Thinking of buying your dream reno? Cowan Building Ltd has you covered with some top tips to ensure the house you are purchasing is exactly what you paid for.
It’s a wonderful experience buying your first home. Many owners will get swept away in the excitement, stress and planning of the exciting new project. For some; it will all seems a big rush to sign the dotted line and get underway, particularly if you have big plans for renovations.
However, there are some important steps you need to take before taking the plunge into homeownership.
1. Get Legal
Get some legal advice from a qualified property lawyer. It may cost a little more, but good legal advice is paramount when you are looking at purchasing. Your lawyer can go through all the laws surrounding your new property and if it fits with your future plans. If you are planning to extend or change the home, there may be certain clauses that prevent this, or rules that will mean your ‘dream’ build might turn into your worst nightmare.
It’s also a very good idea to ensure there are no problems with the title, including easements and ‘right of way’. You also want to check that all buildings have the correct code of compliance certificates, and resource consents from your local council.
2. Builders Report
It’s advisable to also seek a professional builder to get an independent builders report and inspection. Many banks will require this if you are intending on taking out a mortgage on the property. However, even for free-holders, it is imperative you double-check the quality of your investment. It’s not uncommon to hear of homeowners purchasing their dream home to only find a few years later structural or weatherproof issues.
3. Do your research
If buying an existing home, check that there have been EQC claims against the building and if your possible new home has ever had to claim to the Weathertight Homes Resolution Service. Also look around your chosen area and look into if the block is prone to flooding or anything else that could affect your insurance or the durability of your home. Ask the basic questions…will the block suit the new renovations I have planned? Will all the neighbours’ consent? Will it be approved by council regulations?
4. Get a LIM
It may cost more, but it is certainly worth taking a good in-depth look into your property and requesting a LIM report. It will outline everything you need to know in regard to zoning and changes to the property that are allowed, and more importantly; that which are not. You can also see what consents have been rejected and if the adjustments on the home meet the new Building Code. You may just discover that the shed you intend to convert into a sleep-out is not actually council approved and needs to be removed, regulated, and started again.
5. Blinkers Off
It’s important to take the blinkers off and have a good look at the home you intend to buy. Many first-timers will be caught up in the excitement, and some of the cracks and problems could be easily overseen. Get some professional advice from a builder and also have a good friend or family member come with you to take a look at the property. Note down any cracks you may see, water damage, mold, puddles, rust, etc. and be realistic.