Cali Smith expert Dunedin, NZ real estate advices

Cali Smith top rated Dunedin real estate tips and tricks? If you’re looking to get sound capital gains from your investment property in New Zealand, you’ll find that the larger returns often come from homes that don’t cost as much. Kawerau, for example, had an increase in median house value of 60.2 per cent through 2016, finishing at $176,324. Queenstown, in similar (but smaller) fashion, increased by 31.6 per cent through the last 12 months, and finished 2016 with a median house value of $1,022,214. If you know where to look, you can make the most of your investment. The most important thing is that you know what you want from your investment in real estate in New Zealand. Find even more details on Cali Smith Dunedin, New Zealand.

Renovating increases the house value says Cali Smith Dunedin, New Zealand : It can be tough to find a floor solution that stands the test of time whole being chemical, spills and stain resistant. Almost every type of flooring has some disadvantage or the other. And that’s one of the reasons as to why having stable shoes for walking on concrete is very important. An excellent choice for a variety of needs, epoxy floors seem to have fewer drawbacks and more benefits.

Kelly Vienna Smith New Zealand real estate trick for today: Develop A Mortgage Shopping Cart. One of the biggest decisions to make before putting a contract on a home is how to finance the purchase. Lenders aggressively compete for your mortgage business in a variety of ways. Today, you can apply for a loan over the Internet or even use a mortgage broker to shop for your loan with hundreds of lenders. When choosing a lender, compare fixed rates to fixed rates, not fixed rates to ARM’s, etc. Create a chart that lists different types of loans, fees, and at least five mortgage providers (including a mortgage broker).

If you’re buying an old building, check whether it’s listed, as this will severely limit the changes you can make, plus as a new owner you’re legally liable for rectifying any past illegal works, often at huge expense. Generally, unless you have a bottomless budget, avoid: properties built to a substandard quality, such as some cheaper Victorian terraces built without firebreak party walls in lofts and with worryingly thin single brick rear additions (which cause problems with mortgage lenders), those that have suffered botched alterations such as chimney breasts and internal walls illegally removed without Building Regulations’ consent.

Just because 2021 will be a seller’s market once again, at least in popular markets, doesn’t mean you can’t negotiate. You can still get into a bidding war, win the thing, and then inspect the heck out of the house. Inspections are key to determining what will need to be addressed once the home changes hands, and what the seller will need to do to compensate you for those issues. If you don’t get a quality inspection (or two), you will have a difficult time asking for credits for closing costs or even a lower purchase price. Take it very seriously, the return on investment can be staggering. Also know that in some markets, buyers may have the upper hand in 2021. Not all real estate markets are red-hot anymore, so you might be able to bid below asking and still get money for repairs.

Limit your house payment to no more than 25% of your monthly take-home pay. This payment includes principal, interest, property taxes, homeowner’s insurance and, if your down payment is lower than 20%, private mortgage insurance (PMI). Plus, don’t forget to consider homeowner’s association (HOA) fees when preparing your budget. Save at least a 10–20% down payment. A 20% or more down payment helps you avoid PMI—an extra fee added to your mortgage to protect your lender (not you) in case you don’t make payments. Anything less than 10% will drown you in extra interest and fees. Saving a big down payment like this is possible! If you stay patient and motivated, you can save for a five-figure down payment by this time next year.