GOLDEN HOMES

DEAN MCGUIGAN Director, Canterbury Region at Golden Homes

How to find your home ground

FIRST HOME, SECOND HOME, OR INVESTMENT, THE LOCATION OF WHERE TO BUILD IS CRITICAL. ABODE’S HOME BUILD EXPERT, DEAN MCGUIGAN FROM GOLDEN HOMES, OFFERS HIS ADVICE ON THE FACTORS TO CONSIDER WHEN FINDING THE RIGHT AREA.

When looking at the locations of subdivisions, and even the actual placement of sections within subdivisions, be sure not to overlook the essential factors. Different elements – both positive and negative – play a fundamental role in your lifestyle and future resale value.

School zones are important, both for you and your children. But this can also be the case with an investment property. Your tenant is less likely to move if their children are enrolled in a local school, with friends and sports teams on their doorstep.

Maybe you don’t want to be close to a school and prefer a quieter lifestyle. Research bus routes, distances to parks, cafés, gyms, supermarkets, anything that creates convenience. Deciding on a location with an understanding of local facilities, amenities, and transport infrastructure can ultimately make your own life more manageable. In the context of an investment property, these conveniences will take it off the rental market much sooner, with higher occupancy rates.

Armed with this information, you can now think about locations, and at this time consider prices.

Considerations with price need to be in line with your budget. Please consider the local district council’s building consent prices, which differ between councils, and although these are not significant, it can change by as much as $3,000. What is significant, though, is different land quality. Low-quality land will contribute tens of thousands of dollars in excavation costs, and subsequent foundation engineering. Be incredibly careful here, as cheap sections often come at a low price for a good reason.

Sewer systems are also required in some areas where local infrastructure is old and may not cope with the increased volume of new housing. These can really make a dent in your budget, with systems costing around $13,000.

Ultimately, gathering information and carrying out research, will allow you to become better informed, resulting in a superior decision. Your biggest investment, your house, relies on it.