As New Zealand enters the spring season, it also signals a shift in the real estate market. To keep brokers and their home-buyer clients ready, AA Insurance has revealed a set of top tips to consider before inking any property deal – ideal for brokers to pass to their clients - especially in an environment following devastating storms.
“Whether you’re entering the property market for the first time, or looking for a change this springtime, house hunters need to make sure they do all their due diligence on a property before the deal is done. The flooding and cyclones have affected properties across the country, so we’ve compiled a handy list of things to consider when you’re on the open home circuit this spring,” AA Insurance head of home claims Tom Bartlett said.
Below are 10 important tips that brokers should keep in mind while advising their clients about to purchase a new property:
“Not all damage is noticed when you’re viewing a property, and many buyers don’t notice prior damage during the initial ‘honeymoon’ phase of open homes. Remember to pay close attention to the details and don’t skip the building report,” Bartlett said. “If you are buying a house with renovations, check whether council consent was needed and granted, and any relevant codes of compliance issued. This means the quality of the work and materials are up to standard.”
Besides these tips, ICNZ chief Tim Grafton also recently issued a “buyer beware” warning for those willing to purchase properties without a code of compliance certificate as desperation starts to sink in for some flood-damaged property owners.
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