Frequently Asked Questions

Yes, homes can depreciate in value over time. Several factors can contribute to this depreciation, including:

1. Economic Conditions: Economic downturns or recessions can lead to a decrease in property values.

2. Location Changes: Changes in the neighborhood, such as increased crime rates or declining infrastructure, can negatively impact property values.

3. Physical Deterioration: Lack of maintenance or damage to the property can result in a decrease in value.

4. Market Trends: Shifts in buyer preferences or market demand can affect the value of a property.

5. Zoning Changes: Changes in zoning regulations or nearby developments can impact property values positively or negatively.

It’s essential to monitor these factors and take proactive steps to maintain and potentially increase the value of your home.

To start selling your property, contact us to schedule a consultation. Our expert agents will guide you through the valuation, listing, and selling process to ensure a smooth transaction.

A broker is a licensed professional who acts as an intermediary between buyers and sellers in real estate transactions. Brokers are typically more experienced and have undergone additional training compared to real estate agents. They can represent either buyers or sellers and help negotiate deals, handle paperwork, and ensure that transactions comply with relevant laws and regulations. In some cases, brokers may also manage a team of agents and oversee multiple transactions simultaneously.

Yes, you can pay your own taxes and insurance directly if you prefer. This arrangement is common for homeowners who have paid off their mortgage or for those who have chosen not to escrow their taxes and insurance with their mortgage payments. By paying these expenses directly, you have more control over when and how they are paid, but it’s essential to ensure that you budget for these expenses and pay them on time to avoid any penalties or consequences.

In New Zealand, the duration of the loan process can vary depending on several factors, including the type of loan, the lender’s processes, and individual circumstances. On average, the loan process for purchasing a home typically takes between 4 to 6 weeks from the time the mortgage application is submitted to the closing date. However, it’s essential to note that some loans, such as government-backed loans like KiwiSaver HomeStart grants or Welcome Home Loans, may have slightly longer processing times due to additional requirements. Additionally, factors such as the complexity of the transaction, the responsiveness of the parties involved, and any unforeseen issues that arise during the process can also impact the timeline. Working closely with your lender and providing all requested documentation promptly can help expedite the loan process.

To determine the market price of a property, you can use several methods:

1. Comparable Sales (Comparative Market Analysis, or CMA): Look at recent sales of similar properties (comparables) in the same area to see what similar homes have sold for. This method helps gauge the current market value of your property based on recent transactions.

2. Online Property Valuation Tools: Many websites offer online tools that provide estimates of property values based on various factors such as location, size, and recent sales data. While these estimates can give you a rough idea, they may not always be accurate.

3. Hire a Real Estate Agent: Real estate agents have access to comprehensive databases of recent sales and market trends. They can conduct a Comparative Market Analysis (CMA) specific to your property and provide a more accurate assessment of its market value based on local market conditions.

4. Appraisal: Consider hiring a professional appraiser to assess the value of the property. Appraisers are licensed professionals who evaluate properties based on various factors such as location, condition, and comparable sales data.

5. Attend Open Houses and Auctions: Attend open houses and property auctions in your area to get a sense of what similar properties are selling for and the level of demand in the market.

By using a combination of these methods, you can gain a better understanding of the market price of a property and make informed decisions when buying or selling.