After recently purchasing my first house (pirate pink with a pirate flag of course), I learnt a thing or two along the way.
People always say buying a house takes time, what they do dispute is how long that timeframe should be. The key thing for me was knowing the market well enough to know that when I found my pink pirate home, it was an on the spot 5 minute decision. So here are a few tips and tricks to take on board:
1. Do your research - QV reports, study recent sales in the area, search search search online listings so you start to get an idea of what say a 3 bedroom 1 bathroom house is worth versus one with extras such as a second bathroom.
2. Get Real Estate Agents to work for you. There are hundreds of potential properties on the market, but if you work full time searching for a house full time isn't an option. Fortunately for Real Estate Agents this is what they do. I work in media, so creating a brief is something I do on a daily basis. Using this process with Real Estate agents works a treat - they then do the searching for you and call you before properties even make it to market.
3. As with all marketing word of mouth is by far one of the strongest forms of referral and reliable information. The same applies to house buying so talk it up and ask for advice from friends, family and anyone else who knows their stuff.
4. It will always cost more than you think it will. Always. I fancy myself as a Pirate Budgeting Queen, but there were at least a few thousand dollars worth of unforseen costs within this process such as your portion of the rates, additional lawyers fees if you want to use part of your Kiwisaver as a deposit, double insurance payments in your first month - the list continues.
But as with true love, you know when the right property comes along. Listen to your instincts, do the research and the sums, and make sure you think at least partly with your head, not solely with your heart.
As for me, I am truly in love with the new Pink Pirate base and am flying the jolly roger proudly for our new neighbours to see.
