Bank of mum & dad

Keen to buy your first house? Go ask your father!

Although New Zealand’s banks are, for the most part, Australian owned, when it comes to bankrolling new home buyers one of the largest lenders really is a ‘mom and pop’ operation. Unfortunately, however, not all parents have the wherewithal to give their offspring a foot up on the property ladder.

“The overwhelming majority of parents [surveyed] either offered to or were happy to help get their children on the property ladder. There is recognition that a first home purchase isn’t as straightforward as it was 20 years ago, which is why many parents are so willing to help,” Gemma Rasmussen, from Consumer NZ asserts.

“The role of ‘the Bank of Mum and Dad’ is more pivotal in the first home buying process but it also means that we’re seeing a greater social divide of who gets to buy a first home and who does not.”

Although Consumer NZ’s research (conducted in 2022) was undertaken before major falls in property prices, rising interest rates and financial pressures from inflation could still ensure this trend continues for some time yet.

In addition, as many parents need to dip into their retirement savings, a poorer, aging population and/or a younger generation unable to support their retirement through ‘bricks and mortar’ could prove costly across the board in future.

“Our research found that more than half of New Zealanders who don’t own property consider themselves to be locked out. The most common issue cited is that the deposit goalpost keeps shifting,” Ms Rasmussen added.

“We’ve reached a point where it’s no longer enough to do all the right things to buy your first home – to get a job with a good income, save furiously and cut back on the nice-to-haves.”

OPEN HOMES Your home, their castle?

There’s no place like home! However, when taking our houses to market, it can be so easy to attempt to sell our houses rather than present homes for others to make their own. So, to help present our homes in the best possible light, we’ve prepared a few handy tips. • PERSONALLY SPEAKING: We should avoid stark, blank canvases (which may seem sterile and uninviting) but it is important homes aren’t too ‘up close and personal’ either. Those most likely to buy will be people like you, who might connect with a few family photos on the walls but, unless they are a little too much like you, a wall festooned with photos of Elvis could see them ‘leave the building’ rather quickly. • A CASE FOR SPACE: We all ‘come with baggage’, so ridding rooms of everything that isn’t nailed down will make it harder for people to imagine themselves living there. That said, too many possessions out in the open can make buyers feel claustrophobic and give the impression that the property lacks storage. The right balance of just enough in the right places should be the goal. • CAN YOU FIX IT? Anything that should work should be in working order. Little things, such as a dripping tap, can make all the difference if they add up alongside other concerns buyers have with regards to a property. We may not be able to change the fact that the children next door are rowdy, but we should be able to change a washer. • MAINTAIN! A little elbow grease goes a long way, greasy kitchen surfaces not so much! While dusting, vacuuming and other general cleaning tasks may be as routine as trimming hedges or mowing lawns, buyers tend to be aspirational, expecting higher than usual standards. Professional cleaners or gardeners may not be needed before every open home, but they can (at least) bring our properties up to a showroom condition, indoors or out, which we may then easily maintain. • GREAT RENOVATIONS: Major renovations can pay off or become a money pit. Some buyers may be looking for fixer-uppers or even to knock the block off by completely redeveloping the site. So, before embarking on any reno’, do your homework and prepare a budget as this will improve the chances of getting more back than you put in. At the very least, it should improve the likelihood of a quicker sale. • GET REAL: Local real estate professionals know how to sell local houses – pretty straight forward when you think about it! With an understanding of what buyers tend to look for in their specific region, right down to any given street, good agents will connect all the dots, offering more detailed guidance. • SET THE STAGE: So, armed with the tips above, we have every aspect covered? No, of course we don’t! General guides are handy, but because both the devil and angels can reside in the details, engaging a professional house stager will, most often, prove a savvy investment rather than an extra cost. More than providing furniture (including the heavy lifting), stagers will deliver those finishing touches, from filling homes with the scent of fresh baking to reminding us that funeral flowers might give the wrong impression.

HIGHMARK HOMES FRANKLIN Making the grade

For more than 50 years, the team at Highmark Homes has been making its mark across the region.

Whether you’re looking to build a home of your own or an investment property, it pays to invest in the talents of such experts as Chris Lowe and Jason Roper from Highmark Homes Franklin.

“When building with us, you are in the hands of a genuinely caring team dedicated to achieving our customers’ goals,” Chris says. “To us, you and your new home are our priority. We are hands-on, which allows us to be more accessible and attentive to your needs.”

By providing a full ‘design and build’ service, working from established plans or delivering home and land packages, the Highmark Homes Franklin team covers all bases with each home constructed to the most exacting standards.

“We have an amazing range of new home plans to select from, and if you’d like to make even the smallest of changes to suit your lifestyle, tastes or section, we’ll happily work with you to customise any plan.”

While no two building projects are ever the same, Chris, Jason and their team have completed a vast range of homes over the years, winning numerous Master Builder awards.

“With every home we really do build on our experience,” Chris and Jason affirm. “We’ve worked on building sites for more than 20 years so we are well ‘at home’ with the wide range of challenges new builds can present. From the outset the knowledge we’ve gained enables us to ensure our customers are in great hands.”

Because a new build is a huge investment, it can be easy to be swayed by price.

“Don’t let yourselves be trapped by ‘sales talk’ and into believing the lowest price is the best price,” Chris warns. “In these tricky times, building has become very challenging. For this reason, we offer a fixed price build contract and will not pass on any price increases once you have signed your Master Build Contract. Our extensive build addendum will outline all build inclusions while being clear and easy to understand.”

In addition, Highmark Homes provides a 10-year Master Builders’ guarantee on all new builds.

“As owner and director, I take pride in being the builder of all of our new homes,” Jason adds. “You’ll be working with veteran builders from the outset of the project right up

SHOWHOME: 99 Escotts Road, Tuakau OPEN 12-3pm Sat-Sun or by appointment

until we hand you your keys. With an ‘open door policy’, we’re on site and easy to contact from our first meeting to discuss your new home build. And, because there is no greater proof of quality than satisfied customers, we’ll be pleased to put you in touch with some very happy homeowners on request to discover why they made the right move by choosing us.”

Hi.. from tHE Highmark HomEs Franklin Team

Choosing Highmark Homes Franklin for your build partner is the right decision. Chris and Jason are experienced, local builders, who pride themselves on building high quality and very competitively priced new homes.

Our point of difference... Come and meet Chris and Jason

Chris Lowe and Jason Roper are the owners / directors of Highmark Homes Franklin. Jason Roper will be your builder of your new home and Chris Lowe will look after all of the communication and project management. Sharing their building knowledge and expertise throughout your build journey.

As owners of Highmark Homes Franklin we will provide:

• FIXED PRICED build contract – we will not pass on any price increases through the build • On site section visit for review and best location of your home • Extensive build addendum detailing our build inclusions • Our promise to build on time, on budget and to our "high" quality

start with a plan – FINish with a home NEED A PLAN FOR YOUR LAND?

Can one of these house plans from Highmark Homes inspire your next home? Our house plans are designed and can be altered to maximise your site, no matter the size, shape or challenges it may throw our way.

• • • • • • • • Or choose your own design Our Architectural team will help sketch and design

SHOWHOME: 99 Escotts Rd, Tuakau

WHAT OUR CLIENTS SAY ABOUT BUILDING WITH HIGHMARK HOMES FRANKLIN...

“We’re building with the Highmark Homes Franklin Team and they have been brilliant every step of the way and the result will be truly life changing for us.” “Anyone looking at building and considering Highmark Homes, do it!! You won’t regret it!”

GREAT HIGHMARK HOMES FRANCHISE OPPORTUNITY

– IN THE THRIVING WAIKATO

Are you a builder? Are you ready to grow your own building company by joining a nationwide brand? Licensee opportunities are now available with Highmark Homes – and we’re looking for the right people to join us. Call Ryan Hunt Ph 021 388 626