NZ Herald Spaces Feature - November 2019

A New Zealand Herald Commercial Publication

Monday, November 11, 2019

build, renovate & decorate

Buying a new build

KITCHEN TRENDS RESTYLE FOR 2020

Move or improve?

WHEN STAYING PUT MAKES MORE SENSE

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nzherald.co.nz | The New Zealand Herald | Monday, November 11, 2019

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nzherald.co.nz | The New Zealand Herald | Monday, November 11, 2019

Spaces Contents

Renovating on a budget p6

Kitchen confidential p4

Brand new homes p8

Lift your window game p5

Move or improve? p9

Rules for investors p10

Editor Greg Fleming Design Courtney Whitaker Advertising enquiries samantha.glasswell@nzme.co.nz Spaces is a NZME commercial publication

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KITCHEN TRENDS

nzherald.co.nz | The New Zealand Herald | Monday, November 11, 2019

KITCHEN CONFIDENTIAL With the new year just around the corner, there are some major design trends emerging, discovers Louise Richardson

Photos / Getty Images

T

he sharp, edgy industrial chic which characterised kitchens in the late 1990s and early 2000s is still around, but its lines have softened somewhat along the way.

Materials such as concrete and steel are complemented these days by wood, in a variety of shades and types which, when used along with more solid materials add a warm and welcoming Nordic element.

Functionality is key, especially as home cooks are often inspired by food shows on TV and want to emulate all the features they see while keeping the space simple and streamlined.

Interior designer Sonya Cotter designs high-quality kitchens regularly and says that among the trends she’s seeing right now is the inclusion of steam ovens. “When you’re reheating food they keep it hydrated instead of drying it out, and many people seem to prefer them to a microwave.”

She says that the kitchen’s place as the hub of the home has become even more pronounced and homeowners are thinking of their cabinetry more as furniture than as simply cupboards and drawers. They’re adding greater detail to door and drawer fronts and using bold and interesting handles to make a statement. “Stone splashbacks are big right now too, using larger format ceramics that are just 6mm thick, then one metre wide by three metres long. You get the look of stone in a cost-effective way.”

Although many of her clients are still choosing the most neutral colours of nature for their kitchens, they’re using colour in other ways,

Hints & tips 1. When planning your kitchen, aim to have crockery cupboards and drawers close to the dishwasher in order to make unpacking and putting away much quicker and easier.

2. Keep the cooktop away from major traffic areas where children could accidently pull down a boiling pot while racing past.

3. A shelf beside the cooker can be useful for keeping utensils, cooking oil and items such as spices easily to hand. such as with coloured stone benchtops.

“You can get some beautiful jewellike effects, and metallics are big too.”

In Victorian times every decent house had a scullery or butler’s pantry where food could be prepared out of sight, and, in the 21st century, they’ve come roaring back in terms of popularity.

4. Carefully store sharp knives somewhere that children can’t access them and look after them carefully. Sharp knives should never Sonya says they’re becoming such a regular feature now, that architects are including them in plans without even being asked to.

“In our busy daily lives, we and our family members tend to drift in and out of the kitchen area constantly, with food being made or prepared all the time, so homeowners want these spaces to be warm and inviting.

go in the dishwasher.

5. With such a proliferation of appliances these days you can never have too many plugs throughout your kitchen.

6. If you think that your kitchen cupboards look a bit samey, consider adding frosted glass to some of them in order to break up the monotony, or even have some as open shelving for displaying special possessions.

7. If your kitchen is small, light, bright colours will make it seem bigger.

8. Add in a distinct focal point when planning your kitchen. It could be a dramatic statement light fitting, perhaps, or an exotic splashback.

Pam Thomas at Kitchen Things luxury showroom in Newmarket has also noticed the trend for installing more than one oven. “We’re seeing multiple built-in ovens, with different technologies.Warming drawers, flexible induction cooktops and integrated refrigeration are very popular,” she says.

Some of the most exciting new

products she’s come across include vacuum sous vide sealer drawers that preserve the flavours and nutrients in fresh foods, so that you can cook the most succulent dishes in your steam oven at whatever time suits you best, throughout the week.

Meanwhile the Smeg Blast Chiller is another feature that used to be found only in commercial kitchens but has now made its way into the domestic food preparation environment. It’s ideal for flash-freezing, snapfreezing and food preservation.

Pam says her customers are increasingly tech-savvy and have embraced the new Samsung Family Hub fridge-freezers with their exciting advanced technology.

“They are perfect for busy families who want to connect all their compatible smart technology to the fridge, including family calendars, voice control for recipes, and there is even an app that allows you to see inside the fridge when you are grocery shopping!”

In the area of appliance colours, Pam says stainless is still a common choice for more traditional and industrial style kitchens but black, black steel and anthracite work much better in sleek, cutting edge kitchens so they’re also currently popular with homeowners.

“We have such a wide variety of options available to us now, so it’s even more important to have informed expert-help so that you make the correct choice for your next project.

“There’s everything from induction cook tops with built-in ventilation so there’s no need for a rangehood, to refrigeration that can extend the normal life of your food by weeks, due to special technology, and taps that can give you instant boiling, chilled or sparkling filtered water.”

While high-end kitchens with all of these latest mod-cons can become very pricey, there’s still plenty to choose from at the budget end of the market.

Hardware chains are producing high-quality modular units which can be used to create your dream kitchen, perhaps adding in more expensive extras such a brass tapware or hightech lighting to make your new kitchen really stand out.

CURTAINS/BLINDS

nzherald.co.nz | The New Zealand Herald | Monday, November 11, 2019

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Lift your window game E

Louise Richardson

very home has them — unless you’re living in a bunker, of course, and it can be immensely satisfying expressing your own special interior design flair, via your windows.

In winter, as you’d expect, the focus is on keeping homes warm and dry and quality, thermal-lined drapes in safe and conventional designs and colours can be found at chain stores for surprisingly pocket-friendly prices.

Summer is now on the horizon, and promising light-filled, airy months ahead, so this is an ideal time to invest in something new and exciting in the fenestration department.

Professionally made curtains in designer fabrics will look amazing and add extra pizzazz to your interior.

When it comes to drapes, you’re not only looking at the fabric, but also the hardware and finials, tie backs and rods, all of which can elevate an average decorative effect to something quite spectacular.

Peter Lahood has been in the window furnishing business since the 1980s and in terms of current trends in furnishing fabrics he’s noticed certain patterns are increasingly popular.

“True beauty can be seen in the magnificent florals from the archives of William Morris, who was synonymous with botanicals and using the colours of nature,” he says.

Tip: If you’ve discovered a fabric you adore but the price per metre is prohibitive in terms of having curtains made, consider using it for Roman blinds. You’ll actually see more of the pattern when they are drawn down, and the amount of

,,

Venetian blinds can be found in any number of styles and materials.

. . . this is an ideal time to invest in something new and exciting in the fenestration department fabric required is significantly reduced.

If your windows are a conventional size, design stores offer plenty more ready-made or customised

options to completely transform your interior. Roller blinds are nice and neat, staying out of the limelight during the day, while venetian blinds can always be found in any number

Photo / Lahood Window Furnishings

of styles and materials.

If you can afford to stay clear of flimsy plastic venetian styles, which admittedly may cost next to nothing — but won’t look good for long, try exploring other more robust materials such as aluminium and wood — or solid plastic-coated long-life wood-look (faux wood) varieties.

Tip: When it comes to cleaning, it’s not surprising that Venetian blinds are often regarded as a curse. The

process is genuinely a bit tricky, fiddly, and time-consuming, but there are ways to ease the pain. Using a woollen duster weekly, can be very effective because the lanolin in the wool polishes as it cleans. Turn the blinds up one way, then down the other, and wipe.

If the situation is serious and you have an extensive build-up of grime, a bucket of soapy water and a cloth can do the trick, but avoid using too much water on wooden slats, which can swell and deteriorate. If the whole mission’s just a bit too daunting — then splash out. There are professionals out there who can come and do the job for you in a jiffy while you relax with a coffee or vino.

Shutters have recently become very fashionable and they fit well within new-builds as well as looking right at home in older villas and bungalows. While they can be expensive, they’re also durable, so you can change your decor around them, and they’ll still look great.

Peter Lahood agrees that shutters are not only beautiful, but practical too.

“In this environment they provide daylight control, privacy when required and they have outstanding climate control and acoustic qualities.”

Possibly one of the most exciting developments in window treatments right now is automation and these days you can close your blinds on the way home, using your smart phone, or lie in bed in your luxurious bedroom, overlooking the ocean, and draw the blinds up — or down, or the curtains across using a wirefree, rechargeable remote control device or even better, have it all locked and loaded as part of your hardwired automated smart-home system.

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RENOVATION

nzherald.co.nz | The New Zealand Herald | Monday, November 11, 2019

RENOVATING ON A BUDGET It's best to take time out and carefully plan what needs to be done before you begin a renovation; Mark Trafford (below).

Photos / Getty Images; Supplied

S

Steve Hart

o you've moved in to your new home and are champing at the bit to pull out the kitchen, bathroom, rip up the carpet and swap out those tired light fightings.

It's easy for the excitement and enthusiasm to get the better of you as you rush to turn a tired old property into a modern masterpiece.

But one experienced home renovator says it's best to take time out and carefully plan what needs to be done, as opposed to what you assume should be done, and to look at all the options before spending more than you need to.

Mark Trafford of Maintain to Profit has been investing in and renovating property in both the UK and from his current home on Auckland's North Shore for more than 25 years.

“If you are renovating your own home, and you are planning to stay there for some time, then what's the rush?” says Mark. “I know some home owners who have spent 10 years getting their home just how they want it — one room at a time as they got the money.”

His advice is to live with what you have for a little while and see if the kitchen and bathroom can be remodelled rather than replaced.

“That's the cheapest, most costeffective option,” he says. “You can even spray kitchen doors, and bath-

room cabinets,” he says.

“But you are best doing the work in stages and planning it out over a few years starting with the most important rooms first.”

While the kitchen and bathroom are often first port of call for a rip-out-and replace job, Mark says most home owners can get away with a new top for the kitchen cabinets, replacement doors and handles.

“Often the kitchen units themselves are fine; so why rip them out?

But the cost is not necessarily in the new fixings. It's in the new design and the layout; and this is where a lot of money can be spent on moving electrical wires, changing the plumbing, and gas services too. Those costs can be quite significant, that's where people tend to get caught out.

“You're going to save a lot of money if you put new units back in the same place as the old ones, but that doesn't mean you can't add to the layout with something like a kitchen island.

“You can put granite tops on at very affordable prices.”

Apart from doing major works in the bathroom and kitchen, Mark says a lot can be achieved by just repainting the interior walls.

“The biggest impact that you can make to a property is to paint it internally. Because what visitors do when they walk into a home is to look up at the ceiling, then around the

TIPS

● Replace kitchen worktops and doors — not the cabinets

● Spray cabinets and doors in the

kitchen and bathrooms for a fresh look

● Keep water pipes, gas and waste supplies in the same places to avoid hefty bills

● Paint walls for a fresh look ● Replace light switches and power sockets for a modern feel

● If it is your forever home then

update it in stages — one room at a time

● Heating and good insulation are big selling points

● Research prices, be realistic, and set a budget to work to

room, and gradually look down,” he says. “Then you'll look at the next level of where everything is flat and visible. So that's kitchen benchtops, bathroom, vanities, tables . . . and then from there, your eyes will eventually go down to what's on the floor.

“So the four areas that I would put my money into is paint first, I would look at the flooring, and then I would look at cost-effectively doing the kitchen and bathrooms.”

When Mark renovates one of his properties he buys lights from the one of the big DIY chains rather than specialist lighting suppliers with their more expensive options.

“I don't go high-end for LED lighting and replacement switches,” he says. “I go to places where you've got lifetime warranties and good quality, middle-of-the-range options that still look good.

“It's okay to have one light in your kitchen that is stunning. But you don't need every light fitting to be $300 each. You're better off saving the money and using it to replace old light switches and power sockets with modern ones. They can have a big impact on the look of your home.”

While cosmetic changes help make a home look great; Mark says home owners shouldn't forget to put money into insulation and home heating.

“If you're updating your home it is a really good opportunity to look

at things like heat pumps and options around bringing your home into the 20th century in regards to being warm and comfortable,” he says.

“It might mean that you put in a ventilation system and look at things such as insulation. It is no good sitting in a wonderfully decorated home and shivering because it is cold. Even in Auckland it's not warm in winter.

“So while we all want our homes to look great for less, heating and insulation are really important when you come to resell that house. But people tend to overlook things that are going to make the big difference.”

Bottom line though, says Mark, is having a realistic budget and then making renovation decisions based on the cash available.

“That's where people who haven't renovated a house before fall down,” he says. “You do need to price everything, get quotes, do research.

“You know what a car costs because it's got a sticker on the window. But if you're renovating, you don't really know what you're doing unless you've done it before.”

Finally, Mark advises that when hiring contractors to have a clear contract and to only pay a small deposit. “I get so many calls from people that have paid up front and the builders have gone bust, can't be found, or have headed to Australia.

It's incredible.”

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nzherald.co.nz | The New Zealand Herald | Monday, November 11, 2019

BLUE HUES: AN OCEAN OF COLOUR Evoking calmness and serenity, the colour blue is the perfect way to create a relaxed and stylish finish to any room. Suburbs, city or rural, Resene will have the shade for you.

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Why we fall for blue

Blue. It’s a colour almost everybody loves in one shade or another from glacially pale to inky dark or veering into green-edged tones of teal and turquoise. With its associations of sea and sky, blue is a colour that immediately evokes calmness and serenity, summoning memories of sundrenched summer holidays.

Weathered blues are shades that have a greyed, washed look to them and a slightly worn-in, matt effect that allows for a relaxed but stylish finish to any room. It’s a trend that has its roots in the Scandi look of recent years, but also the growing desire for more organic, lived-in interiors full natural materials, easy-on-the-eye colours, and a certain eco sensibility.

They work particularly well in sun-drenched spaces as well as bathrooms and kitchens. They are comfortable and easy; much like a favourite pair of faded jeans.

Look to the latest Resene The Range fashion colours fandeck for inspiration: Resene Half Dusted Blue, Resene Slipstream or Resene Remember Me, as well as the classics like Resene Duck Egg Blue and its variants.

The look also slips easily and gently into misty and mid-toned greys such as Resene Grey Seal and Resene Silver Chalice.

TheHamptons— roughed up

The simplest expression of the weathered blues trend is as a more ‘lived in’ version of the classic Hamptons style or nautical look of navy and white, softened with pale wood and natural fibres.

Weathered blues make for a more interesting tonal look than classic pale neutrals, and are being seen in either all soft, ethereal schemes of lighter blues or can be punctuated with darker tones for interest. Where once navy would have been used to provide this visual depth, the trend is for smoky and stormy blues such as Resene Coast and Resene Artemis. These anchor a room and prevent the look from becoming too floaty and ethereal. Blues such as these work well with crisp, cool whites such as Resene Black White or Resene Alabaster.

The overall effect of layers of weathered blues like this, and unpolished fibres and materials, is of a s p ace t h at is low maintenance, well-loved and comfortable, rather than being a meticulous show home. It’s a perfect look for the bach, but also a great way to bring a beachy vibe into the family home wherever it may be — the suburbs, city or rural.

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Stain and texture

Weathered blues have a translucency that can also be found in colours from the Resene Colorwood and Resene Woodsman stains ranges. The hugely popular Resene Colorwood Whitewash and Resene Colorwood Greywash are a perfect match to a collection of weathered blues — the first has a more classic finish while the second exudes a smokier, sophisticated feel.

The advantage of stain is that the wood grain of the original surface shows through, adding interest and texture for the eye. It’s a great way to create a ‘shabby chic’ look for any room — emphasis on the chic, especially when paired with more saturated colours of the same tone.

Many natural textures and fibres work well with stained finishes, emphasising the pared-back approach: natural, canvas, hemp, rattan, bamboo and cork as well as lush green plants for serene, spa-like living spaces.

Other ways to use weathered blues

• Layer a room in the full set of one shade, for example, Resene Duck Egg Blue alongside its half and triple intensities. A classic approach is to use the palest version on the walls and/or ceiling and then layer furniture and accessories in darker versions of the colour. Add pops of bolder more saturated shades in both complementary and contrasting colours for depth and interest.

• A pastel palette using soft greyblues with subtle peach pinks such as Resene Ethereal or pale apple greens such as Resene Kandinsky.

• A more surprising colour combo is to add splashes of gentle terracotta in Resene Sunbaked or you could even try pops of a buttery yellow such as Resene Chorus Line. When you’re matching shades from this part of the spectrum look for those that have a subtle bluish undertone themselves.

• For an older school nautical vibe, use with spicy rich reds such as Resene Pohutukawa and buttoned-up navy such as Resene King Tide.

Once you’ve decorated with your favourite blue, you can sit back and feel the waves of relaxation wash over you.

If you need help finding just the right colour for your place, see your local Resene ColorShop or view the latest looks online, resene.co.nz/ latestlooks.

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NEW BUILDS

nzherald.co.nz | The New Zealand Herald | Monday, November 11, 2019

The advantages of buying a brand new home are many.

Photo / Getty Images

BRAND SPANKING

There’s nothing quite like the smell and feel of a new home, writes Diana Clement

B

uying a brand new home is as Kiwi as paua and pukeko.

It has been the dream for young New Zealanders for generations and there’s nothing like the smell and feel of a brand spanking new home.

New homes can cost more than a secondhand house in the same neighbourhood. But your home will come with guarantees, and most likely you’ll need to do virtually no maintenance for 10 years.

That’s not all. The advantages of a brand new home are many and include: ● A home designed for your lifestyle. New homes take into account our modern lifestyles. They have walk-in wardrobes, multiple bathrooms/ensuites, heat pumps, easy-to-use kitchens and so on. ● It will be healthier and cheaper to run. Thanks to the Building Code, you’ll get better insulation and glazing than in an old home and typically it will be designed to capture the sun’s natural warmth in winter, and the breeze in summer. Your power bill should be lower than in a villa or old-style Kiwi home. ● Smart design. New, mediumdensity housing is so much better designed, meaning you get more for your money in a smaller space, says Geoff Polglase, sales manager at

Kerepeti Hobsonville Point. Small homes that in days gone by would have a single bathroom can now fit in 1.5 bathrooms and small gardens create cosier spaces. ● Indoor-outdoor flow. Kiwi’s lives have changed over the past couple of generations. These days, even the most basic of brand-new homes are designed with the must-have indooroutdoor flow. This wasn’t something that occurred to the architects and designers before the 1970s. ● Wired for today’s living. Your new home will be wired for modern living and will have multiple electrical outlets in every room. Your lighting will be LED and cost less to run.

Home automation features such as electric curtains and smart lighting and security systems can be built in. ● Better safety. The materials used to build your new home have to meet higher standards. Polglase says that the firewalling in new homes at Hobsonville Point was tested in a real-life situation when a home caught fire and none of the surrounding dwellings were affected. New homes often have other security features, such as electrical circuit protectors and safety glass to hardwired smoke detectors. ● Internal-access garages. New standalone and many terraced homes will have internal access garages. These garages will be warm and

dry and can be used for other purposes, such as a rumpus room. ● Greater Flexibility. You also get a little bit more flexibility (in design) with new builds, says Stuart Wills, mortgage broker at Mortgage Managers. “With quite a few new builds you get a selection with colours and choice of window dressings.” ● Well-designed communities. If your new home is part of a new subdivision you can be sure that there will be proper town planning

New builds come with distinct financial advantages for home buyers starting with the KiwiSaver HomeStart grant, which is doubled for buying a brand new house and local amenities. There will be land set aside for schools, shopping centres, churches, community centres and more. It’s likely all the home owners are new, many will have young children, and you will build the community together. At Hobsonville everyone gets involved in community events such as Hal-

loween, says Polglase.

Brand new homes also come with guarantees. Under New Zealand law your home and the building materials are covered under the Building Act’s implied warranties, the services by tradespeople under the Consumer Guarantees Act and any misleading claims by the Fair Trading Act. Some homes come with private building guarantees that you can purchase such as the Master Build Guarantee.

New builds come with distinct financial advantages for home buyers starting with the KiwiSaver HomeStart grant, which is doubled for buying a brand new house.

For building or purchasing a new home, or for purchasing land to build a new home on, the grant is doubled to: $2,000 per year of membership in the scheme, up to a maximum of $10,000 for five years for each member. For a couple that adds up to $20,000, which is significant.

Do be aware that a new home must be new. That means the house must have received its Building Code compliance certificate within the previous six months of the HomeStart grant application.

If it’s under construction it must also have a projected completion date.

Mortgages on brand new homes are exempted from the Reserve Bank of

New Zealand’s loan to value ratio (LVR) rules, says Wills. That means buyers who pass all the standard lending tests can borrow on a 10 per cent deposit.

Or buyers who qualify for a Welcome Home Loan can get a foot in the door of a brand new home with a 5 per cent deposit.

New homes are often in more outlying areas of the city.

In Auckland that means suburbs such as Millwater, Pokeno, Te Kauwhata (technically Waikato), Kumeu, and Stillwater, which tend to be cheaper to buy in than more central suburbs.

For example a house-and-land package starts at $600,000 currently in Pokeno’s “Bartell Block”, says Lisa Walden, owner at RE/MAX Stars, Pokeno. For that, you get a standalone home of 190 to 200 square metres home on a 450m2 parcel of land.

The KiwiSaver and Welcome Home Loan rules restrict the upper price point for first home buyers to $650,000.

At Hobsonville point, says Wills, that means a two-bedroom terraced home or apartment, rather than a standalone home.

You have three main choices when buying new. Buy your own land and build, buy off the plan, or buy an already built home.

RENOVATION

nzherald.co.nz | The New Zealand Herald | Monday, November 11, 2019

D

espite low interest rates and cooling prices, the percentage of buyers who are moving house has fallen from 30 to 27 per cent since 2016, according to CoreLogic data.

Bayleys Real Estate’s national residential manager Daniel Coulson says it points to a growing trend which is seeing homeowners stay put and decide to invest their resources in their existing home.

That means more homeowners are choosing to renovate to get the home they want rather than moving, but getting the balance of spend right can be tricky.

Move or improve?

In a slow real estate market many homeowners are choosing to renovate rather than move. By Greg Fleming

Photo / Getty Images

RENOVATE RIGHT “Whether you’re renovating to flip, or renovating to stay, it’s important to have one eye on the future,” says Coulson.

“When renovating, your options are endless, but it’s always important to consider the length of your ownership and the fundamental reason you’re renovating. Is it purely for profit, or for enjoyment while you own the property? The answers to these questions should have a significant impact on the quality of a renovation, and the degree to which you personalise it.”

LAP POOL OF LUXURY? When spending large on renovations, personal luxury choices cannot generally be counted on to attract big returns on sale day.

Coulson says that while adding a pool will make you popular with neighbourhood kids, it’s unlikely to make much of a splash beyond a relatively small set of prospective homebuyers.

“Few people are in the market for something as specific as a pool, or other luxury features such as bar areas, spas and man caves.”

“While features like these will, of course, add value to your home, their true worth may often be more about your own enjoyment of them. Their

D9

value beyond that often depends on the area.

“The key to avoiding overcapitalising is to take a look at the type, condition and value of property selling in your area. Always consider the location of the home you’re renovating.”

Before you commit to any major work, it pays to check out recent sales in your neighbourhood.

“Regardless of what you spend on improvements, your home’s value will always be related, to a large extent, to the prices achieved for comparable homes nearby.”

BANG FOR YOUR BUCK “With any property sale, achieving the best price means appealing to the greatest number of potential buyers.

To maximise the return on your renovation, focus on what most people want in a home: things like space, light and modern styling.”

Coulson suggests focusing on the things that are most obvious to buyers.

“Kitchens and bathrooms are always important. But also, are you in a family area with popular schools?

If so, additional bedrooms and bathrooms are key selling points.”

For any renovation project, functionality is king.

If it greatly improves a home’s liveability, it offers the best chance of paying for itself in the long run.

Opening up a wall and adding a bi-fold door to create flow on to a deck is expensive, but can give a big lift to day-to-day living. The same goes for improvements to kitchens and bathrooms, as they’re areas that get a lot of use.

Little things can have a big impact too; you don’t have to spend a fortune. Paint is cheap, and fixtures from your local DIY store serve the same

purpose as expensive, designer imports.

“The value added by fresh, neutral paint and carpet can be considerable,” says Coulson. “But it’s important to remember that not everyone shares the same tastes, so ensure your home’s appeal is as broad as possible.

“When choosing projects and deciding how much to spend, it pays to keep an eye on potential returns.

If it’s well spent, money invested in your home today will benefit not only your current lifestyle, but your future sale price.”

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INVESTING

nzherald.co.nz | The New Zealand Herald | Monday, November 11, 2019

Rules tightened for investors The halcyon days of the mid-2010s are a distant memory for speculative property investors.

By Joanna Mathers

Photos / Getty Images; Supplied

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Andrew Bruce (above)

and generate rental agreements.

There are also useful apps that have been developed to help those who manage their own properties.

Platforms such as myRent.co.nz bring all aspects of property investment together within system, so landlords don’t have to worry about checking rent payments or scheduling inspections.

Property investment has changed significantly in the past few decades.

But the majority of property investors are still “buy-and-hold” investors who are looking for long-term security, a good relationship with tenants, and to provide good-quality homes for those who chose to rent. Property flippers looking for quick deals don’t have as many opportunities as they did at the market’s height, and many have changed strategy to maximise their potential earnings.

Those looking to get into the market are well advised to find a mentor — someone who understands the fluctuations of the market and where the pitfalls lie. Property investment can be lucrative, but it can also be strewn with potholes. Due diligence is vital if people want maximise the potential of their investment properties.

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Investment properties should be based around the numbers and how it fits in with your investing goals.

some substantial upside where I can add value.” Technology has enabled property investors to understand the market better, manage their properties more effectively, and keep on top of great deals. Bruce admits that he’s not the most tech savvy of investors, but uses CoreLogic’s database (corelogic.co.nz/products/rpnz) to peruse property sales history.

“This is very important information when buying, as you want to be an informed purchaser therefore able to assess with a degree of confidence what the property you’re looking at is worth,” he explains.

“I also use Auckland Council’s Geomaps (geomapspublic.aucklandcouncil.govt.nz/viewer/index.html).

This provides a variety of information on the property like zoning, flooding, infrastructure, etc. These two websites/databases provide a vast amount of information at your fingertips.”

There are other useful online platforms that property investors can use for the day-to-day running of their business. Properrenting.com is a useful online tool that allows landlords to list properties, schedule viewings, review applications from their phone,

style accommodation, but there are some significant downsides to this type of investment.

Auckland Council (and other councils in areas with major rental shortages) have introduced higher rates for those who those rent out their properties for holiday accommodation. You will also be taxed for any income earned over $4000.

In Auckland (for example) you will be charged accommodation provider targeted rates and business rates for holiday homes, and this can be a significant amount.

Around the country, investors are far more likely to put their money towards properties that they can hold on to for the long term, and from which they can gain a decent yield.

Bruce says that there are still opportunities, even in places such as Auckland, if you look hard and do your homework.

“We recently purchased a property that meets our criteria, however we have a long-term outlook. Our goals are generally based around investing for cash-flow investment properties so I’m usually never that interested if the property doesn’t at least cover its costs unless I can see

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hose who made a tidy profit flipping Auckland properties still grab the headlines, but the housing market is a considerably different beast in 2019.

As we head towards a new decade, New Zealand property investors have some real challenges to surmount.

Although the Capital Gains Tax proposal was stoushed by the Government earlier in the year, other new regulations are making life harder for investors.

Current issues include the brightline rule, which means investors must pay tax on residential properties if they buy and sell within five years; and changes to ring-fencing laws, which mean you can no longer offset rental losses against other income.

Andrew Bruce is the president of the Auckland Property Investors Association. He says that while the environment is evolving and changing, more dire predictions of a market crash put forward by some pundits are unwarranted.

“We still have a shortage of properties particularly in Auckland, interest rates are at historically low levels and while building consents numbers have increased, there isn’t a flood of new properties coming on to the market.”

However, it’s still hard for new investors to get a foot in the door, especially in places like Auckland.

Bruce recommends that people who are interested in property investment be very careful around doing their sums before shelling out.

“Investment properties should be based around the numbers and how it fits in with your investing goals. I’d suggest you firstly understand what you can afford and then target certain areas in your price bracket. This way you become an expert in those areas and have a good understanding of what potential properties you’re looking at are worth.”

Short-term rentals are one component of property investment that have been making headlines recently. With rental shortages in many popular parts of the country, the advent of Airbnb and the development of the holiday rental market, have been blamed for fuelling the fire.

Those with a passion for interior design might be drawn to the idea of creating their own boutique hotel-

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nzherald.co.nz | The New Zealand Herald | Monday, November 11, 2019

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The common areas include a multi activity room with movie theatre, lounges, restaurant and beauty salon. Outdoor areas include a large patio, water features with garden seating and walking paths through trees and attractively planted landscaped gardens.

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nzherald.co.nz | The New Zealand Herald | Monday, November 11, 2019

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