House buying

[R650R]

Finally in a position to buy a house.... need the dummies guide please

prob around 300-400k price range.

How much extra cash do I need aside for house insurance, fees and paying the appropriate lawyerjews?

This new BS of 'deadline sale' and price by negotiation annoys me greatly, very few properties have asking prices or even offers above $$$$ etc...
Any tricks to working out a starting point....

Once you see a place you really like anything lese besides LIM reports, valuations and engineers reports etc?????

Cheers

[Akzle]

1) you don't "buy a house" you "tender payment for fee simple title to property"


2)property in christchurch is cheap, so buy something there and wait 16 years for the next property horseshit (assuming every cunt doesn't vote akzle, cos if they did, there ain't going to be any more property bubbles) bubble


3) when you say "around 3-400k" do you mean you have 20% of 3-400k, or you acually have 3-400k? or you mean you could borrow enough to get 20% of 3-400k?

4)dont pay lawyerjews. for anything. ever. that shit just encourages them. if you see a lawyer jew you should spit on them. tarring and feathering optional but recommended. vote akzle.

5)
This new BS of 'deadline sale' and price by negotiation annoys me greatly, very few properties have asking prices or even offers above $$$$ etc...
Any tricks to working out a starting point.... don't overthink shit. don't rush in to shit. dan't ever, let any cunt pressure you into any shit. watch the local market for a while to see what's selling where how much and why.

6)you wont know if you like a place until you've lived there a dozen seasons (some would say 10-15 years) the 10 year floods, winter winds, logging trucks every 7 or 8 years, "the hum", road vibrations, what's upwind, yada, fucking, yada. if it appears to suit you now, do it, if it works out that it doesn't, go somewhere else.

[TheDemonLord]

How much extra cash do I need aside for house insurance,

http://need2know.org.nz/what-you-need-to-do/estimate-your-rebuilding-cost/
http://homebuilding.cordell.co.nz/index.php?c=introduction&profile=38&restart=1

That will give you the rebuild value - which is what your Premium will be based on.


fees

These are paid by the seller, not the buyer from memory.


and paying the appropriate lawyerjews?

For a simple sale - it's about $2-3k- obviously the more Effing around you do, the more it costs.


Once you see a place you really like anything lese besides LIM reports, valuations and engineers reports etc?????

Cheers

Depending on the house/area - a Moisture report (costs extra) or a P inspection (if you think it might have been used)


that's all I can remember.

[Akzle]

you could get a fokken sikk caravan for 3-400k

[James Deuce]

If you're buying anywhere between Canterbury and Masterton you can't get insurance due to an insurance embargo, thanks to that earthquake thing. All you can do is transfer the existing House and Home & Contents insurance that the current owner has and if what we've gone through over the last 6 weeks is anything to go by, 90% of people are massively underinsured to the point where banks won't loan you money. Digging into this process has demonstrated that only AMI and State are actually willing to transfer policies to the new owner.

Youi will dish out new insurance policies, but it costs $4500pa (for $250k of house cover and $100k land value with no site clearance provision) for the premium with a $2500 excess, no glass cover and no burglary damage cover or lock replacement and they can impose a stand down on pay out. Don't insure with Youi. If you ring them for a quote, they won't give you the policy to review until you've paid the first year's premium in full. If you do ring them, make sure you pay a lawyer to follow up with a letter to say that you did not agree to take out insurance. Do not give them bank account details or a debit/credit card number.

If you aren't buying between those points. Awesome. Life is good.

Oh, and there's no such thing as a "good" Real Estate agent. They're all lying cunts with no ethics. If you can luck upon a private sale, get your lawyer to do all the legwork. Check title, check access, check for covenants, etc, etc.

[Akzle]

and neighbours tend to be foken cunts. so try not to have any.

[caspernz]

The joys of buying real estate huh?

Plenty of variables in your post, but hey, here's my five cents.

The price you put on a house can be driven by several factors. Location, neighborhood, proximity to amenities. A real estate agent will usually be able to give you info on what other similar properties in the area sold for, so use that as a guide. But yeah, the whole having to come up with a sensible offer is a pain. Not as bad as going to an auction in Auckland in the last year or two, and finding oneself in a room of foreigners...

LIM is definitely worthwhile.

House inspection outfits will do an inspection which will give you a fair idea of what's up. The P check is one I'd do, especially if there's signs of recent repainting etc.

Mortgage broker is usually a better deal than dealing direct with bank, and even then the bank will usually contribute a wad to legal fees. Last place we bought as private sale, and the banks' contribution to legal fees was at least twice what we actually paid...go figure?!

Insurance is a biggie of course, figure the rebuild value by whatever means that suits you, most insurance companies will have a model to work thru. If in doubt, round up of course.

Rates will be fun to pay as well of course...

The actual moving cost, getting all services connected, the house warming party...it just never ends.

And you thought trucking was like a bottomless pit, owning a house is much the same :(

[jasonu]

Finally in a position to buy a house.... need the dummies guide please

prob around 300-400k price range.

How much extra cash do I need aside for house insurance, fees and paying the appropriate lawyerjews?

This new BS of 'deadline sale' and price by negotiation annoys me greatly, very few properties have asking prices or even offers above $$$$ etc...
Any tricks to working out a starting point....

Once you see a place you really like anything lese besides LIM reports, valuations and engineers reports etc?????

Cheers

I don't think I would rely on KB for professional advice when buying a house.

[Grumph]

Be aware that in some council areas the LIM can be a pack of lies. Omissions are common.
Speak to locals, either neighbours or local businesspeople to get the real lowdown on the area or specific property.

Re price - take any advice on price from an agent with care - it's in their interests to keep prices high.

[Voltaire]

I don't think I would rely on KB for professional advice when buying a house.

How can you say that... $5 and a bag of chips will get you a deathstyle block and then you can spend quality time on KB :niceone:

here is my two pence worth ( no chips)

As mentioned Real Estate Agents are not your friend, they are supposed to act for the seller but give the impression of helping the buyer.
Assisted my Son with a house buy in Rotorua earlier in year.
I found my Solicitor excellent to deal with and I think not much over 2K and the ASB chipped in $2500.00
I got the P test done but the results are open to interpretation as its unregulated.
Also got a builders reports for about $500 and it was quite comprehensive with photos.
Best not to fall in love with a property as you may be temped to pay more than you budgeted for.
As one make money on real estate book once said " the house of your dreams come up about once a fortnight"
I have found that the Missus being really keen and you looking totally disinterested can prompt details out of agents.
Wish I'd followed the book in the early 90's but finance was very hard to get then, unlike now with the world being awash with 'cheap money' ...for a while.
At the end of the day if you pay a bit much its neither here nor there over 10 -20 years and you will get sick of open homes and Real Estate Agents pretty quickly.

+1 on LIM reports, they can be vague and not that accurate, but only around $200.00
When making an offer make sure you put 'subject to builders report, P test, finance etc ", thats where the Solicitor earns their money.
:2thumbsup

[neels]

You'll want to allow around $2k for lawyers costs etc, house insurance for that price range would be around $80-90 a month, you don't necessarily need to pay the whole year up front.

Tell the bank you're not paying a loan application fee, and see what freebies they are throwing in for taking out a mortgage (one I saw the other day was a week in rarotonga), they're pretty keen for business since the reserve bank slowed things down.

Deadline sale pisses me off as well, you can however chuck an offer in prior to deadline date, this can be a good thing where you burn off the competition or a bad thing where you effectively set the starting bid.

If you're in Christchurch then the shiny new RV would be a good starting point, then factor the condition of the house vs an average house of it's age. Homes.co.nz could help as well

You'll need insurance/EQC paperwork for insurance, and probably a building inspection, title check and LIM are standard, and the council long term plans are worth a look to see if anything significant is likely to be happening in the future.

I've done a bit of buying and selling in christchurch in recent years, so pretty familiar with the hoops you need to jump through :wacko:

[jellywrestler]

Finally in a position to buy a house.... need the dummies guide please

prob around 300-400k price range.

How much extra cash do I need aside for house insurance, fees and paying the appropriate lawyerjews?

This new BS of 'deadline sale' and price by negotiation annoys me greatly, very few properties have asking prices or even offers above $$$$ etc...
Any tricks to working out a starting point....

Once you see a place you really like anything lese besides LIM reports, valuations and engineers reports etc?????

Cheers

be careful with buying auction houses early , often they take your offer and set that as reserve then come crawling back if it doesn't sell

[Moi]

Location, location, location...

I can't comment on what is the process now for buying - we bought the current property 30 yrs ago!

However, I will suggest a few things to consider when you start looking: the old real estate adage "Location, location, location" is very important
* where is the property? - are you within easy access, such as walking or cycling distance, of local amenities like a supermarket, other local shops; council provided amenities - library, swimming pool - and public transport?
* how is the house located on the section? - which rooms will get the winter sun and for how long; do you have easy access onto the property; is there enough garden, or too much garden, for what you want and have time to do? just how close are your neighbours?
* what is the layout of the house? is the house "move in and live in"? or will it need urgent work? how many bedrooms do you 'really' need? is the main living area, such as the kitchen/family room, located in a sensible part of the house? does it face northwards for winter sun and does it offer privacy? if there's only one bathroom and the toilet is in there as well, is there a second toilet? what is the heating? do you have outdoor living space? do you prefer a brick house or a wooden house and what age house appeals?

[EJK]

I don't think I would rely on KB for professional advice when buying a house.

Get a busa


Tell the bank you're not paying a loan application fee, and see what freebies they are throwing in for taking out a mortgage (one I saw the other day was a week in rarotonga), they're pretty keen for business since the reserve bank slowed things down.

Yep. Negotiate, negotiate and negotiate. Shop around and do the same. Suck out everything they can offer because in the end you are paying $200-300k for mortgage interest alone so offers like "$1000 cash back" is a bag of chips. You'd be stupid not to negotiate. If they say no, then walk out.

[Autech]

My advice: Stay the fuck away from Auctions. Very costly for a new home buyer as the bank will make you jump through $1000 worth of hoops before you can even turn up to the auction, only to have some investor cunt stick buy it and the house next to it before you even get a chance to bid. CUNTS! Fucking hate them.

With normal sales you can make an offer and put in the clauses: Subject to finance and builders report. That way you at least can have the offer accepted before forking out for the builder and vauluation.

Anyways, as stated above allow about 1k for the builders report and valuation which your bank will want before they loan to your peasant arse.
From there get a good lawyer, I used Ngaire Smith for my house, she doesn't charge too much and saved us from nearly buying a leaky house which the builder did not pick up on. Great lawyer and I'm pretty sure going by her small nose and name she is not a Jew.

[Maha]

For less or around $200K you can own a three bedroom house buy a Lake. Three KBers already own homes there.

http://www.trademe.co.nz/property/residential-property-for-sale/auction-1213549287.htm

[jasonu]

Location, location, location...

I can't comment on what is the process now for buying - we bought the current property 30 yrs ago!

However, I will suggest a few things to consider when you start looking: the old real estate adage "Location, location, location" is very important
* where is the property? - are you within easy access, such as walking or cycling distance, of local amenities like a supermarket, other local shops; council provided amenities - library, swimming pool - and public transport?
* how is the house located on the section? - which rooms will get the winter sun and for how long; do you have easy access onto the property; is there enough garden, or too much garden, for what you want and have time to do? just how close are your neighbours?
* what is the layout of the house? is the house "move in and live in"? or will it need urgent work? how many bedrooms do you 'really' need? is the main living area, such as the kitchen/family room, located in a sensible part of the house? does it face northwards for winter sun and does it offer privacy? if there's only one bathroom and the toilet is in there as well, is there a second toilet? what is the heating? do you have outdoor living space? do you prefer a brick house or a wooden house and what age house appeals?


All good stuff. Add in what my dear old Dad who did quite well out of real estate told me. Try to buy the worst house on the best street instead of the best house on a shitty street and be sure to be on the up hill side of the street.

[Moi]

All good stuff. Add in what my dear old Dad who did quite well out of real estate told me. Try to buy the worst house on the best street instead of the best house on a shitty street and be sure to be on the up hill side of the street.

Very true... plus: buy on the northern side of an east-west street or the western side of a north-south street...

[EJK]

Very true... plus: buy on the northern side of an east-west street or the western side of a north-south street...

Why is that? Genuinely curious.

[Maha]

Why is that? Genuinely curious.

Feng Shui :eek:

[Moi]

Why is that? Genuinely curious.

Northern or western side = allows for you to have the main living area of the house facing the sun for winter and in summer you have a verandah for shade, plus having those areas away from the street front offers privacy.

[Laava]

be careful with buying auction houses early , often they take your offer and set that as reserve then come crawling back if it doesn't sell

We bought a house a few years ago which was going to auction. We offered them $250 k beforehand which they refused and then we ended up paying the same money at the auction.

[Maha]

I thought an Auction would be the shits, but we sold in 2014 at Auction, it was a great experience. We had a go at selling privately, the house was a 300 sqm five bedroom house on two levels 150 up and 150 down...all usable floor area. We targeted the Bretheren but they were not looking to spend the 550,000+ figure we wanted. Auction morning we set our reserve, it was slow to start with but it reached reserve within minutes of the first bid and we settled for 3K over reserve, which allowed us to settle all debt and pay cash for our next home.

I would Auction any day, some say stay away from an Auction but the whole deal was very (while emotional to be honest) easy way to sell. Your house will sell on the day if you're ready to sell and it save months and months of open homes/stupid offers and endless advertising.

[Old Steve]

When making an offer make sure you put 'subject to builders report, P test, finance etc ", thats where the Solicitor earns their money.

Our lawyer always got us to add a condition, "Subject to lawyer's approval", we called it the Clive Gardner clause but it saved our bacon once. See, it doesn't specify that the lawyer has to explain why he disapproves, it's just that he does.

[R650R]

Some good advice here, all contribution appreciatted. Workmate has s aid go to few auctions to get feel for prices locally.
Buying in HB so never mind all the chch dramas.
Can see why its so unaffordable for so many now. Can get a good deal through work, have good deposit but even then though the $$$ add up quickely. No new bike for a long time i think.....
So from everyones 2 cents worth im thinking keeping 10k cash aside would be a good idea for insurance, rates and other things.

[Moi]

If you can locate a few houses that have recently sold in the area you're thinking of buying in, this website could be useful:

http://www.trademe.co.nz/property/insights

[R650R]

Very true... plus: buy on the northern side of an east-west street or the western side of a north-south street...

Currently live on the south side of an east west street, get plemnty of sun..... I do like to wake up in a room that gets morning sunshine though.
And a porch preferably with a verandah is great for mid morning coffees or just being a porch monkey and watching the world go by :)

[Oakie]

I can only provide this useless advice. Buy a long time ago.
Our first house circa 1985 in Oamaru cost us $25,000. The second in Twizel approx 1988 cost us $33500. The third in Christcurch approx 2001 cost us $136000.

Glad I'm not trying to get in to the market now and huge sympathy for those are and finding it out of reach.

[bogan]

How can you say that... $5 and a bag of chips will get you a deathstyle block and then you can spend quality time on KB :niceone:

Yeh, but you'd have to bulldoze the existing (or give it a light tap with a shovel), and put a mordhaus in its place. Lot of work, and health and safety costs would be through the fucking roof...

[mossy1200]

I can only provide this useless advice. Buy a long time ago.
Our first house circa 1985 in Oamaru cost us $25,000. The second in Twizel approx 1988 cost us $33500. The third in Christcurch approx 2001 cost us $136000.

Glad I'm not trying to get in to the market now and huge sympathy for those are and finding it out of reach.

We got lucky and bought in just in time 3 years ago. House has gone up 240k in last 3 years.

I bought a house back in 2001 in Dunedin for 67k and should have bought the ex out back then. Mortgage was 90 a week and it could have returned good rent and capital gain.

[haydes55]

I've recently bought a house in kihikihi. Don't believe everything anyone tells you. My lawyer almost cost me the house a couple of times.

The mortgage broker has been amazing (Lime group if anyone is looking I'd strongly recommend them).

It's not actually expensive to buy a house. I've had kiwisaver since the beginning. I've only contributed $6000. I bought (well loaned the money to buy) a brand new Ute at the start of the year. Then saved about $13,000 to pay a chunk of the loan back but decided to buy a house instead. Literally 4 months savings to buy a house. Our mortgage is $8 more than our rent was. Our insurance has gone up. But not stupidly so.

The valuation could fuck you over too. The valuation came back $8000 less than purchase price, so our 12% deposit dropped below 10% and we had to save the entirety of our next pays to get back over 10%. The valuation was arranged by the bank, they didn't factor into the valuation the work that hadn't been done which was in the purchase agreement (New fence, extending the section 4m back, new heat pump, repairs picked up in the building report). The valuation would be about $30,000 more now compared to June when it was done.

[aprilia_RS250]

This new BS of 'deadline sale' and price by negotiation annoys me greatly, very few properties have asking prices or even offers above $$$$ etc...
Any tricks to working out a starting point....

Once you see a place you really like anything lese besides LIM reports, valuations and engineers reports etc?????

Cheers

- Think about risks such how many interest rate rises could you afford or be willing to accept. Currently we are in that point of the economic cycle where rates may start going up, question is how quickly.
- Another thing is devaluation. Property in NZ is very expensive and you should think about if the market were to tank would you be ok with that eating into your equity.
- You should calculate if renting is still cheaper than buying (in Auckland it is much much cheaper). If you have an awesome landlord it can work really well.
- Think about the opportunity cost of spending those savings.


When bidding/negotiating the real estate agent will give you a figure the seller has in mind. Without stating the obvious they work for the seller, not you. They are pretty much there to rip you off.
Never get emotional, never tell them how much you love the place. Don't give any hints on what kind of a purchaser you are (first home buyer/upgrading/investor etc). They use this information to sell you in. You tell them you are investor they will give you a market report on how well the area has done, what rents are like etc. If you are an occupier with young kids, they'll tell you how good the amenities are, schools etc. So do your homework. Look at council plans/news to see developments/upgrades etc in that area for the next 10 years. Ask the agent plenty of questions. Why the seller is selling, how long it has been for sale, when do they want to settle, how many serious bids have been tendered, possible to buy pre auction (only do this if you think the property is a steal). Find something wrong with the property. Could be anything. Carpet, curtains, cracked weatherboard etc. Get an estimate of repairs/changes and use this to justify lowering your offer.

Don't be ashamed at making a low ball offer. i.e. they want 300k and you offer them 250k.
When making an offer give them a time limit. I.e. Unconditional offer of $400k, this expires at 12:00 noon today. Take control of the situation. You are the wally with the cash - you hold the power.
If it's an auction don't start bidding, only bid if you have to. If you get stuck in a bidding war increase in small persistent increments. Don't start off with 10k, then 5k, then 1k then $500 etc... People will gauge where your level is. Stick with $1k and always add up on counter bids unless it's above your target price where then you stop.

Anyway this all basic you probably know type stuff. One thing i'd really stress though is not getting emotional about losing out on an opportunity to buy a house - I see this often. I'd rather not overpay for something and keep my hard earned money. Good luck.

[R650R]

I've recently bought a house in kihikihi. Don't believe everything anyone tells you. My lawyer almost cost me the house a couple of times.



cool stuff thanks, any further enlightenment on lawyers mistakes/actions???

[R650R]

-

Anyway this all basic you probably know type stuff. One thing i'd really stress though is not getting emotional about losing out on an opportunity to buy a house - I see this often. I'd rather not overpay for something and keep my hard earned money. Good luck.

Some of it but lots of good new info there thanks

[Maha]

I've recently bought a house in kihikihi.

Went through Kihikihi once, had our wheels stolen and we didn't even stop. :rolleyes:

[haydes55]

cool stuff thanks, any further enlightenment on lawyers mistakes/actions???
The lawyer told me I had to notify the bank that the house showed a positive reading for meth (below the guidelines). Then get the bank to send a letter confirming they will still lend us the money with the reading.

Called the bank, the bank revoked our preapproval the day before unconditional day. The bank said even if we decontaminated the house and got a reading of zero they wouldn't take the risk. They also said we weren't obliged to tell them about the meth result.

We then went to a mortgage broker and within the day he had sorted a new bank and got us the same deal.

The lawyer then wanted a letter from our insurance that said they will cover the house with the meth. Told her we wouldn't do it.

Our lawyer also frequently ignored emails and phone calls regarding settlement dates and extensions etc. Because she didn't contact the vendor to get a date for our house to settle on (title still hasn't been issued for the subdivision of land). So our new bank ended our preapproval, until we could get a settlement date. This was after 2 extensions to the preapproval already.

After a day, our mortgage broker had contacted the vendor and the council, found out an approximate date and extended the preapproval 2 more month even though the low equity funding had since dried up.

On average when we contact the lawyers it takes 2 to 3 days to get a reply, if we get any reply at all.

Our purchase agreement had a clause, if title wasn't issued before 31 November we can opt out of the agreement and move out. The vendors lawyer contacted us directly because they had no response from our lawyer as to whether we wanted to stay or move.

She has been helpful sometimes, but to be completely honest, I don't see any benefit of having a lawyer at all. Get a good mortgage broker and just use a generic purchase agreement. Lawyers just copy and paste a generic one anyway and delete the clauses you don't have off it. A lot of money for no work.

[haydes55]

Went through Kihikihi once, had our wheels stolen and we didn't even stop. :rolleyes:
Coming from the guy in Mangakino haha. Kihikihi isn't too bad. I've found no graffiti around the place. The neighbour are sheep and horses, so they keep the volume down at night. There are a few bogans living out here, so I'm at home.

[Swoop]

Beware of houses built from early - late 90's. Untreated timbers were the flavour of the month and caused the leaky building crisis. Especially bad when hardies shit was on the outside of the walls.




As for selling. A mate got stung badly by his agent insisting on selling by auction. One bid only a few dollars over the reserve and he still had to sell.
He says sale by tender is the best option.
Take offers and see if you like the prices. If you are not happy then there is no obligation to sell AND you then still have the option of holding an auction.

[jasonu]

Beware of houses built from early - late 90's. Untreated timbers were the flavour of the month and caused the leaky building crisis. Especially bad when hardies shit was on the outside of the walls.




As for selling. A mate got stung badly by his agent insisting on selling by auction. One bid only a few dollars over the reserve and he still had to sell.
He says sale by tender is the best option.
Take offers and see if you like the prices. If you are not happy then there is no obligation to sell AND you then still have the option of holding an auction.

How did your mate get 'stung' when it was his job to set the reserve?

[Maha]

As for selling. A mate got stung badly by his agent insisting on selling by auction. One bid only a few dollars over the reserve and he still had to sell.
He says sale by tender is the best option.
Take offers and see if you like the prices. If you are not happy then there is no obligation to sell AND you then still have the option of holding an auction.

The reserve price is set a price of what the vendor is willing to accept. When we hit reserve, our agent came to us and asked what we wanted to do when reserve was reached, he suggested that he could get more so we agreed and he went out and got us another $3K.

[jasonu]

The reserve price is set a price of what the vendor is willing to accept. When we hit reserve, our agent came to us and asked what we wanted to do when reserve was reached, he suggested that he could get more so we agreed and he went out and got us another $3K.

Eh??? What did he think you wanted to do? When the reserve (the minimum amount you are willing to accept) is reached the house is selling innit??? It was an auction wasn't it? The bidders bid the extra $3k, how did your agent 'go out and get it'?

[Maha]

Eh??? What did he think you wanted to do? When the reserve (the minimum amount you are willing to accept) is reached the house is selling innit??? It was an auction wasn't it? The bidders bid the extra $3k, how did your agent 'go out and get it'?

Yes, at the point of reaching reserve, it is selling........not sold. A property at Auction is sold only when the bidding stops and everyone is happy. The auctioneer is there to get as much as he/she can for the vendor, and in our case...he did.

[HenryDorsetCase]

. Don't believe everything anyone tells you. My lawyer almost cost me the house a couple of times.



How? 10 characters

[HenryDorsetCase]

As for selling. A mate got stung badly by his agent insisting on selling by auction. One bid only a few dollars over the reserve and he still had to sell.
He says sale by tender is the best option.
Take offers and see if you like the prices. If you are not happy then there is no obligation to sell AND you then still have the option of holding an auction.

There is no obligation on a vendor at all. And who held a gun to his head and forced your mate to sign a contract? Vendor signs last not first. If he wasnt happy he just walks out the door. And guess what? Vendor sets the reserve too.

Your mate got fucked by himself and is looking for someone to blame.

[HenryDorsetCase]

4)dont pay lawyerjews. for anything. ever. that shit just encourages them. if you see a lawyer jew you should spit on them. tarring and feathering optional but recommended. vote akzle.


indeed. This is likely the best advice in this thread.

[HenryDorsetCase]

She has been helpful sometimes, but to be completely honest, I don't see any benefit of having a lawyer at all. Get a good mortgage broker and just use a generic purchase agreement. Lawyers just copy and paste a generic one anyway and delete the clauses you don't have off it. A lot of money for no work.

Yup. totally.

I decided to expand on this a bit.

What you are paying your lawyer for (in a residential conveyance) are two things:

1. Look at shit you don't understand and provide a professional accountable opinion as to those things.: Titles, LIM reports (and now, earthquake bullshit).

2. Work for your bank to ensure that they get the security you've pitched them. Also to do the actual transfer of the property: we have write access to the land titles database and do the actual transfers and registrations.

Those are the core things as well as ensuring that time limits are adhered to and all that as well as fucking handholding and dealing with your bullshit. Also Kiwsaver and homestart.

There's a reason I dont do this day to day anymore.

[neels]

The lawyer told me I had to notify the bank that the house showed a positive reading for meth (below the guidelines). Then get the bank to send a letter confirming they will still lend us the money with the reading.

Called the bank, the bank revoked our preapproval the day before unconditional day. The bank said even if we decontaminated the house and got a reading of zero they wouldn't take the risk. They also said we weren't obliged to tell them about the meth result.

We then went to a mortgage broker and within the day he had sorted a new bank and got us the same deal.

The lawyer then wanted a letter from our insurance that said they will cover the house with the meth. Told her we wouldn't do it.

Our lawyer also frequently ignored emails and phone calls regarding settlement dates and extensions etc. Because she didn't contact the vendor to get a date for our house to settle on (title still hasn't been issued for the subdivision of land). So our new bank ended our preapproval, until we could get a settlement date. This was after 2 extensions to the preapproval already.

After a day, our mortgage broker had contacted the vendor and the council, found out an approximate date and extended the preapproval 2 more month even though the low equity funding had since dried up.

On average when we contact the lawyers it takes 2 to 3 days to get a reply, if we get any reply at all.

Our purchase agreement had a clause, if title wasn't issued before 31 November we can opt out of the agreement and move out. The vendors lawyer contacted us directly because they had no response from our lawyer as to whether we wanted to stay or move.

She has been helpful sometimes, but to be completely honest, I don't see any benefit of having a lawyer at all. Get a good mortgage broker and just use a generic purchase agreement. Lawyers just copy and paste a generic one anyway and delete the clauses you don't have off it. A lot of money for no work.

Someone needs to get a better lawyer.

The one we used has always been awesome, most times gave us a price up front for his work and unless something really unusual happened that's all he charged us, sadly he has retired now so will have to start again finding another good one.

[HenryDorsetCase]

Someone needs to get a better lawyer.

The one we used has always been awesome, most times gave us a price up front for his work and unless something really unusual happened that's all he charged us, sadly he has retired now so will have to start again finding another good one.

I think that's a fair call.

Having said that, a lawyer is required under the ROPC to provide an up front fee estimate and such. Effectively residential conveyancing is done on a fixed fee basis and the prices are "competitive". Usually the actual work is done by legal executives - OP's "lawyer" may not have been a lawyer at all. I only ever see a residential conveyance file if it is for a friend, and/or there is a problem which is when I dispense my god-like powers (sometimes for good, often for evil). Our lawyers can earn a better return on their time doing other stuff. Having said that, a competent legal executive is absolutely worth their weight in gold to a firm... and are paid and treated accordingly.

[Big Dog]

Our lawyer was worth his weight in gold. His daughter (a recent graduate) did the leg work, getting us to sign stuff etc but when the bank tried to change terms on us post negotiation he put them straight pretty quick. That saved us his fee with one email.
Then when the vendors exited with unpaid rates and water rates one phone call and the vendors who weren't answering our calls suddenly coughed up the $1600, council confirmed receipt within 2 hours. Pretty good return on 5 mins of his time and $75.

Total cost including conveyancing, contract validation, mortgage validation, 2 renegotiations of terms when the vendors couldn't meet their side of conditional etc approx $2600.

Sent from Tapatalk. DYAC

[BMWST?]

Our lawyer was worth his weight in gold. His daughter (a recent graduate) did the leg work, getting us to sign stuff etc but when the bank tried to change terms on us post negotiation he put them straight pretty quick. That saved us his fee with one email.
Then when the vendors exited with unpaid rates and water rates one phone call and the vendors who weren't answering our calls suddenly coughed up the $1600, council confirmed receipt within 2 hours. Pretty good return on 5 mins of his time and $75.

Total cost including conveyancing, contract validation, mortgage validation, 2 renegotiations of terms when the vendors couldn't meet their side of conditional etc approx $2600.

Sent from Tapatalk. DYAC
ditto unpaid rates and body corp fees.Removed light fittings also remedied with $$$$.No messing aroundwith the vendor or agent lawyer to lawyer stuff=instant result

[Swoop]

How did your mate get 'stung' when it was his job to set the reserve?

He was advised by the real estate agents and the auctioneer what the reserve should be and he took that advice. It was rather low and the advice was along the lines of "once others know that it's selling they'll jump into the bidding war" approach.
They didn't. Hammer fell.

[Maha]

He was advised by the real estate agents and the auctioneer what the reserve should be and he took that advice. It was rather low and the advice was along the lines of "once others know that it's selling they'll jump into the bidding war" approach.
They didn't. Hammer fell.

What our agent said to us when listing was...''there could be 6 in the figure'' (estimating 600,000 +) day of the Auction that figure fell below 600 because ''That's what market is telling us''. We realistically thought it was worth mid to high 5's... so that's where we set our reserve on the morning and got what we wanted.

Seems like the Auctioneer/Agent you speak did not have the vendors best interest in mind.

[neels]

Seems like the Auctioneer/Agent you speak did not have the vendors best interest in mind.
They never have the vendors best interest in mind, they have their best interest in mind, their main priority is getting the deposit in the bank so their commission is safe.

[HenryDorsetCase]

They never have the vendors best interest in mind, they have their best interest in mind, their main priority is getting the deposit in the bank so their commission is safe.

absolutely true. I have had some hysterical calls today about that very thing.

Its on a list of things which are not my problem.

[mossy1200]

My lawyer is only $680 including gst fixed price. If you need one in Welly PM me and ill give you his details.

[R650R]

What you are paying your lawyer for (in a residential conveyance) are two things:

1. Look at shit you don't understand and provide a professional accountable opinion as to those things.: Titles, LIM reports (and now, earthquake bullshit).

2. Work for your bank to ensure that they get the security you've pitched them. Also to do the actual transfer of the property: we have write access to the land titles database and do the actual transfers and registrations.


Can the average joe do any of this themselves, surely a lot of it is just generic forms, with dates times and names filled in and filed at the council office or whatever.
Had to deal with lawyers ahile ago with death in the family, seemed to be a lot of expensive generic bullshit forms to be signed and filed at court or wherever. Even though the olds had paid off their mortgage in full they had kept some option open incase they wanted to borrow again easily. Lots of seemingly bullshit forms to sign while a piece of skirt nodded sympathetically and ruffled papers.... the funeral itself was easier to deal with than the vulture fest of forms....

[HenryDorsetCase]

Can the average joe do any of this themselves, surely a lot of it is just generic forms, with dates times and names filled in and filed at the council office or whatever.
Had to deal with lawyers ahile ago with death in the family, seemed to be a lot of expensive generic bullshit forms to be signed and filed at court or wherever. Even though the olds had paid off their mortgage in full they had kept some option open incase they wanted to borrow again easily. Lots of seemingly bullshit forms to sign while a piece of skirt nodded sympathetically and ruffled papers.... the funeral itself was easier to deal with than the vulture fest of forms....

Short answer: sure. I think if you go and ask the Registrar they will give you the forms, or whatever (we're talking Probate still right?). As long as you have the Will and the filing fee (and are the executor....) then go for it. In fact for the court document the form and a lot of the content is mandated in the rules.

Knock yourself out.... after all, numpties do it all day every day, how difficult can it be really?

[Autech]

Can the average joe do any of this themselves, surely a lot of it is just generic forms, with dates times and names filled in and filed at the council office or whatever.
Had to deal with lawyers ahile ago with death in the family, seemed to be a lot of expensive generic bullshit forms to be signed and filed at court or wherever. Even though the olds had paid off their mortgage in full they had kept some option open incase they wanted to borrow again easily. Lots of seemingly bullshit forms to sign while a piece of skirt nodded sympathetically and ruffled papers.... the funeral itself was easier to deal with than the vulture fest of forms....

Our Lawyer saved us from buying a leaky home, went to bat for us after the real estate agents had lied about the EQC money paid n work completed n cost less than buying a leaky house would have cost or the money we got out of them for EQC. So sure, go do it yourself but getting it wrong is more costly.

Consider what you do for a living and whether someone else could do it as well, sure they could give it a crack (they got the same 2 legs, 2 arms n brain as you) but most likely not as well.


Sent from my iPhone using Tapatalk

[R650R]

Going to bank soon to apply, trying to nail them down on interest rate (on pre approval) and they saying they cant give a rate till you show them property you want. Is this normal?
Googling and found out about rate locking and associated fees....

[neels]

Going to bank soon to apply, trying to nail them down on interest rate (on pre approval) and they saying they cant give a rate till you show them property you want. Is this normal?
Googling and found out about rate locking and associated fees....
From memory they can't lock in an interest rate on a pre approval, but can once there is a S&P agreement with a possession date, if you want to change the rate after that it costs you money.

All the current talk is that rates are going to go up, as the current exorbitant profits aren't enough for the banks, so probably a good time to get on with it.

[russd7]

From memory they can't lock in an interest rate on a pre approval, but can once there is a S&P agreement with a possession date, if you want to change the rate after that it costs you money.

All the current talk is that rates are going to go up, as the current exorbitant profits aren't enough for the banks, so probably a good time to get on with it.

when we bought our place about 18mnth ago we had pre approval for low equity and interest rate guarantee but we also had to have a house lined up that we wanted to put offer on, all this was done over phone over a period of about two hours (10 min call then wait for call back), turned out we didn't need low equity loan so that gave us more leverage on interest rate.

[BMWST?]

mortgage brokers seem to be able to negotiate better deals than John Q Public.Haave had a mortgage with BNZ>wanted another mortgage>they made us fill out all sorts of forms about spending even tho thye have had all our banking for years. A short conversation with a Mortgage broker had a beeter mortgage rate and approvd within a couple of days

[caspernz]

Going to bank soon to apply, trying to nail them down on interest rate (on pre approval) and they saying they cant give a rate till you show them property you want. Is this normal?
Googling and found out about rate locking and associated fees....

Mortgage broker will beat any rate you can get from your bank. We talked to several banks before we bought last house, mortgage broker could do better by 0.25 to 0.5 % from the same banks. Go figure :shit:

[R650R]

Been to bank today, was better than expected... Get a good deal with specific bank thru employer. Need to get in the game so going fixed rate for now and maybe broker refinance down the track.... Now to visit lawyers.....

[Akzle]

Been to bank today, was better than expected... Get a good deal with specific bank thru employer. Need to get in the game so going fixed rate for now and maybe broker refinance down the track.... Now to visit lawyers.....

wait... you needed a mortgage just to pay your lawyer?? :nya:

but srsly.

don't know if it's still on offer, but for a time you could have X% fixed and Y% floating. depending whether you catch a lull in "the market"

but also srsly. vote akzle then you don't have to pay ony cunt that shit, and lawyers can be hunted for sport.

[R650R]

wait... you needed a mortgage just to pay your lawyer?? :nya:

but srsly.

don't know if it's still on offer, but for a time you could have X% fixed and Y% floating. depending whether you catch a lull in "the market"

but also srsly. vote akzle then you don't have to pay ony cunt that shit, and lawyers can be hunted for sport.

Yeah you can still do that.....

[R650R]

Right, making a couple of checklists now so i dont miss anything.

First will be "Must Ask" questions to real estate agent and owner, already aware of several in relation to disclosure and issues but please contribute.

Second will be a To-Do list of check packets/documents at council, aquire valuer, builder to inspect etc....

Feel free to add, when done will cut n paste up here for future reference for others.

[Grumph]

Talk to the neighbours of any prospective purchase. There's a lot doesn't get on the LIM......

And, if you don't like them as neighbours, walk away.

[HenryDorsetCase]

wait... you needed a mortgage just to pay your lawyer?? :nya:


Shit yeah, hopefully!

[Moi]

What plans does the local council have for the area? - as in: public amenities or possible roading or infrastructure upgrades...

What are the rates for the property? - does it have several rates on the property? E.g. land/council rates, water rates... Are the rates due for review?

How close to schools and what school zones and how are the schools rated by locals?

What public transport is available? You mightn't need it but the next purchaser might.

How close are the local shops and supermarket? Again, you might be too bothered but the next purchaser might.

[R650R]

Checklist for viewing property Mark I

Are there any weathertightness issues?
Has any work been done without official consent?
Are there any problems with the boundary / neighbour access rights to the property
Has it been used as a P lab?
Why is the owner selling?
Are there any changes coming to the area's zoning?
Are there any community issues brewing?
What work has been done on the property? Are any urgent repairs needed?
When it was last re-roofed, re-wired or re-piled. Does the house have an unusual past?
Has the Rateable Value been updated?
What reports / information do you have available? When were these done?
What have similar houses sold for? Can you provide a recent sales report (buyer CMA) please?

What do you need to tell me about this home before going further?
Agents have a duty to disclose any known issues relating to the property that they are aware of. Ask if anyone else has had a building inspection done. Did they still offer? If not, why not?
Have there been any offers accepted on this home that didn’t go ahead?
How can I buy this home if I am interested? What will the process be if I place an offer?
When will the agent be meeting the owner? If it’s priced – when exactly will your offer be put in front of the owner?
How long will they spend calling other buyers to see if anyone else wants to offer?
Where is the owner living, or is the property in a trust and how quickly can I expect them to respond to my offer?
What settlement date are the owners looking for?

Security level?
Drainage?
Garaging?
Neighbours?

[eldog]

Bank will need insurance on the house
if you are thinking about/have a trust then you need to sort it out. Prior to buying if you can.
does it have any on going maintenance issues - garden, trees - leaves in gutter, flooding (I live next to a flood plain, it can get existing watching the water rise)

does it have internal guttering, PITA if it gets blocked, it can flood inside. Changing mine this year.
once a month and more often over autumn/winter I have to clean out the guttering.
if it has rectangular down pipes and trees are close then you want to make sure they don't block up. I have removed mine. Looking for a decent builder at the moment

If it has trees over hanging the house, you can expect visits from vermin in the roof.

the seller of my house said to my face that there were no problems with the house, I only found out about the above (water animals in the roof)

real estate agent took ages to contact seller and we didn't get any feed back, no counter offer, nothing. You can approach the seller (I did) and ask if they were given your offer, (they hadn't).

look for parking and access to house for day to day stuff, like unloading groceries, getting out when it's raining. Parking for the motorbike and boat.

i have a 1970's house, a lot of the glass isn't safety

i lived in a house for a while which had an additional room built on, you couldn't tell it wasn't original, no council consent. You maybe able to see original plans (drainage ones are quite good) to make sure what's original.

remain calm, there is always another house.
if your keen on the house, make several visits if you can and take someone impartial. Each visit you will see different things.
a lot of auctions go to private negotiation

if you go for an auction/house inspection try and go to several, so you can be relaxed when you look at the house you are really after.
dont tell the real estate person your keen,

i know of only 1 real estate agent I would trust with telling anything, unfortunately he doesn't work in the area I want/have to live.

you can always sell a house and get another one.

does it need a new roof, painting, carpet, cert for fireplace.

i got my distribution board replace recently, the electrician found several faults.

check if there is any insulation, does it need renewal?

is it on the right side of the street and get the sun when you want it? In the right rooms.

it is a long term investment

[eldog]

mortgage brokers seem to be able to negotiate better deals than John Q Public.Haave had a mortgage with BNZ>wanted another mortgage>they made us fill out all sorts of forms about spending even tho thye have had all our banking for years. A short conversation with a Mortgage broker had a beeter mortgage rate and approvd within a couple of days

Mortgage brokers don't seem to last, don't expect the same person to be there next time you want to contact them.

i found Kiwibank, quite responsive, but a lot depends on e person you contact.
Ask questions they are there to help.

the good ones will be helpful, those are the ones I use.

[eldog]

Had to deal with lawyers a while ago

can be very frustrating, and appear to be costly.

if you think something's isn't been done properly (lots of lawyer stuff gets given to some underling who doesn't know what you want) question it and go back to lawyer and ask what is happening. Make sure that you understand the process.

i had a underling try and negotiate a rate with the bank, I asked if they had my permission to negotiate, ummm no. sorted that out.

in case you have a trust and a member is getting on (loosing marbles) suggest you contact the lawyer and get the changeover process started straight away. So you can get the members signature while they can still can. My own experience, just made it, before the power of attorney was changed over. Took lawyer to hospital to check members I'd and that he was still capable of recognising me and able to sign forms etc.

but your paying for protection for the bank and for yourself.

finding a good lawyer.....

[R650R]

Well Open home patrol one no joy.

One house slightly outside price range and under offer. Had to stifle laugh as agent told other people oh its a really nice area and some feral trash walking thru the adjacent alleyway were having a swearing domestic....
Next on list open home cancelled and the three flats next door look dodgy.....
Cute cottage on hill with views and decking, dampness issues, nneeds work and poor access bikewise.....
One I've had my eye on for several months... SOLD but apparently previous sales fell thru on same place....
Next poor access and very little sun angle.
Potential holding property needs little work, no proper driveway and really wants a retaining wall on vertical side slope supporting six large trees... whats an approx. cost per metre of doing that?

Oh well find me lawyer Monday and continue search....

[Akzle]

Potential holding property needs little work, no proper driveway and really wants a retaining wall on vertical side slope supporting six large trees... whats an approx. cost per metre of doing that?
....

fucken heaps cunt, but cos i'm such a nice guy i'll do it for the lowly price of "shit that's expensive"

also wrt to body corporates, (and i heard this on the wireless this morning) get the comittee meeting minutes, as the people who are part of the b.c. have a vested interest in not minuting problems at meetings, whereas the comittee is obliged to deal with shit.

[eldog]

Upto me, I would avoid alleyways and shops (previous experience)

mates of mine brought an expensive house, then found out the have to install a $140,000 retaining wall. FFS

dodgy places ..... yeah right.

See if you can get moolah to get the place you really want. It will be hard work but worth it in the end.

took me 6 months to find a good place, even then over a month to convince the real estate (slacker) and seller I wanted it.
They got top dollar then, last month I was offered over double what I paid, as is.

[R650R]

fucken heaps cunt, but cos i'm such a nice guy i'll do it for the lowly price of "shit that's expensive"

also wrt to body corporates, (and i heard this on the wireless this morning) get the comittee meeting minutes, as the people who are part of the b.c. have a vested interest in not minuting problems at meetings, whereas the comittee is obliged to deal with shit.

While the idea of apartment living appeals to me, none here in my price range have suitable garaging options.

[R650R]

Upto me, I would avoid alleyways and shops (previous experience)

mates of mine brought an expensive house, then found out the have to install a $140,000 retaining wall. FFS

dodgy places ..... yeah right.

See if you can get moolah to get the place you really want. It will be hard work but worth it in the end.

took me 6 months to find a good place, even then over a month to convince the real estate (slacker) and seller I wanted it.
They got top dollar then, last month I was offered over double what I paid, as is.

Yeah I'm already on a semi-arterial road. Used to be loud cars and burnouts an issue, that's died off a lot with boyracer act. Now drunken feral teens walking the streets all hours and loitering/stabbing/fighting each other due to the culture change of anti drink driving. I much preffered getting woken up 4 times a year to a serious crash outside than to be woken up at least four nights a week by loud mouth over entitled youths........
The place that needs retaining wall (in my opinion) it might not.... is 1387 M2 section and 1950s stucco house, with a bit of work could be big capital gain but don't have the extra cash......

I've set my finance limit, plus a slight buffer I can push up to if I have to...

[caspernz]

Upto me, I would avoid alleyways and shops (previous experience)

mates of mine brought an expensive house, then found out the have to install a $140,000 retaining wall. FFS

dodgy places ..... yeah right.

See if you can get moolah to get the place you really want. It will be hard work but worth it in the end.

took me 6 months to find a good place, even then over a month to convince the real estate (slacker) and seller I wanted it.
They got top dollar then, last month I was offered over double what I paid, as is.

Lots of good advice in there. Retaining walls are expensive!

In some ways new or near new avoids a lot of problems, if one can afford the initial price of course. In that sense an older house can be like an older car, it can have character yes, but it can also be a money pit.

If I can impart any advice at all, trust your gut, do the background work and most of all, don't rush into anything.

[russd7]

just something to think about, access for emergency services, hate to say it but ya never know when ya may need an ambo up ya drive and people would be amazed how many rural or semi rural properties can't be accessed by a big red truck, gateways to tight or trees overhanging drives etc etc

[Mike.Gayner]

Talk to the neighbours of any prospective purchase. There's a lot doesn't get on the LIM......

And, if you don't like them as neighbours, walk away.

Fuck yes to this. Especially the last point.

Better yet buy somewhere that doesnt have neighbours.

[R650R]

just something to think about, access for emergency services, hate to say it but ya never know when ya may need an ambo up ya drive and people would be amazed how many rural or semi rural properties can't be accessed by a big red truck, gateways to tight or trees overhanging drives etc etc

Last one here the paramedic walked up the driveway slower than a jehovahs witness while the other one backed the meat wagon up. Guess they dont run anymore under OSH and all......
I hear you tho....

[R650R]

In that sense an older house can be like an older car, it can have character yes, but it can also be a money pit.

If I can impart any advice at all, trust your gut, do the background work and most of all, don't rush into anything.

I was wondering that about older homes... do builders pull out the asbestos card to charge you ten times more.... Saw a stucco place too and wondered what insurance companies ar elike with plaster clad/coverings....
Yeah I don't rush anything in my personal life, I invented the roundtuit.......

[R650R]

Fuck yes to this. Especially the last point.

Better yet buy somewhere that doesnt have neighbours.

I think the right neighbours are good to have in terms of security but yeah some of these boxed in places and shared driveways no thanks....
Currently I have only one real neighbour with the others being a terroist training camp (aka school) and a small business whose lazy customers parking outside my place or in driveway is occasionally a pain. People loiter and piss about in their cars before getting out to go there and in the mena time your assesing if they are going there or a potential burglar scoping you out.....

[caspernz]

I was wondering that about older homes... do builders pull out the asbestos card to charge you ten times more.... Saw a stucco place too and wondered what insurance companies ar elike with plaster clad/coverings....
Yeah I don't rush anything in my personal life, I invented the roundtuit.......

Older homes, not necessarily the asbestos trick. Think more like does the plumbing need work, electrical wiring, how close to needing replacement is the roof, wooden joinery can be fun...that type of stuff. If you don't have any experience in this, use a building inspection company. Well worth the money, like an AA check on a car you want to buy.

Stucco, aka monolithic cladding is not an issue in itself provided it was done properly. Building inspection outfit again...

Best of luck with your house hunt, it'll be nice once you find the right one :niceone:

[eldog]

I invented the roundtuit.......

I haven't found one yet. still looking....


I think the right neighbours are good to have in terms of security but yeah some of these boxed in places and shared driveways no thanks....
Currently I have only one real neighbour with the others being a terroist training camp (aka school) and a small business whose lazy customers parking outside my place or in driveway is occasionally a pain. People loiter and piss about in their cars before getting out to go there and in the mena time your assesing if they are going there or a potential burglar scoping you out.....

wait till you live next to a gang HQ, even the visitors raid the place

Avoid plaster buildings, if at all possible.

[R650R]

wait till you live next to a gang HQ, even the visitors raid the place



While the not the HQ thing twice I've lived next to patched members of major well known gang, not through my own intentions but that's the rental market for you.
The first one you never knew they were there really apart from other neighbours giving us a heads up when we first moved into flat.
Second time the guy was one of the better neighbours we've had, would actually give a heads up when he was having a noisy party so you'd rent a movie and not bother going to bed to early. Occasionally you'd get few of the others hanging around outside looking menacing keeping up appearances etc but zero real trouble. Had kids of his own and a job so think that helped.
The good thing was it was a full on gang house as far as the local drunken teens were concerned, so they stopped loitering and making so much noise in our street, a vast improvement in living standard in a roundabout way lol....

[eldog]

While the not the HQ thing twice I've lived next to patched members of major well known gang, not through my own intentions but that's the rental market for you.
The first one you never knew they were there really apart from other neighbours giving us a heads up when we first moved into flat.
Second time the guy was one of the better neighbours we've had, would actually give a heads up when he was having a noisy party so you'd rent a movie and not bother going to bed to early. Occasionally you'd get few of the others hanging around outside looking menacing keeping up appearances etc but zero real trouble. Had kids of his own and a job so think that helped.
The good thing was it was a full on gang house as far as the local drunken teens were concerned, so they stopped loitering and making so much noise in our street, a vast improvement in living standard in a roundabout way lol....

It was pretty good living there. Plenty of motorbikes. Chases.
Plenty of security from both sides of fence. Including blue mob.

Only trouble was PD workers trying to break in and prospects trying their hand at stealing my car. Etc
Even though he was over 6'5 ft tall I had no problem telling him to GO back to his pad.

Fun times. Watching.

They don't tend to shit in their own backyard. Actually reasonable in small numbers when their not trying to impress someone.

[R650R]

We'll I've put an offer in a grossly inadequate hovel of a cave.... waiting now.... lessons learned so far.

1) Real estate agenst are genrally absolutely useless sources of info, they rival politicians in being able to speak yet saying nothing at the same time........
2) photos will generally look five times better than the actual property............

[Laava]

Going to be interesting to see if the current market crash they are reportedly having in WA will head east and then to us?

[Voltaire]

Going to be interesting to see if the current market crash they are reportedly having in WA will head east and then to us?

Isn't that down to the areas reliance on minerals and China having built all the things they want at the moment?

I think its more likely that the Twit (ter) running the US will cause the next market downturn.

The NZX seems to be riding the coat tails of the Dow at the moment, clearly the markets like a good sabre rattle as a

distraction to excessive debt and the growing chasm between the haves and the have nots.

[Laava]

Isn't that down to the areas reliance on minerals and China having built all the things they want at the moment?

I think its more likely that the Twit (ter) running the US will cause the next market downturn.

The NZX seems to be riding the coat tails of the Dow at the moment, clearly the markets like a good sabre rattle as a

distraction to excessive debt and the growing chasm between the haves and the have nots.

Probably all of the above but as we all know, things are not always entirely predictable or foreseen...

[Mike.Gayner]

Going to be interesting to see if the current market crash they are reportedly having in WA will head east and then to us?

Hard to see how WA is anything like NZ. WA had a massive, astronomical housing boom driven by a desperate shortage of housing during the mining boom. The area had virtually nothing else going for it, so when the mining boom ended it was pretty obvious what was going to happen. None of those factors are at play in NZ.

I'm not saying we won't have a market crash. I'm just saying WA isn't a great example.

[Asher]

I'm currently looking at buying too for similar money.
One house that I'm looking at making an offer on tested positive for meth and they had to strip and clean the inside of the house. The report is in the LIM and it looks like they did a good job of cleaning the house and replacing alot of things but I'm not sure how it will affect the resale value.
What are people's views on buying a clean and renovated meth house?

[jasonu]

What are people's views on buying a clean and renovated meth house?

It will be like buying a vehicle that has had a hard prang and been repaired. The resale price will be less than comparable houses that have not been used as a lab and the buyers will be fewer. Don't pay too much for it and you'll be right.

[jim.cox]

What are people's views on buying a clean and renovated meth house?

Approach with caution

Depends on whether it was used as a Cookhouse, or just for smoking the shit. There are some pretty nasty chemicals involved in the former

The $7 chinese test kits aren't worth a pile poo and there are some unscrupulous types out there using them to drive down prices - make an offer subject to testing - get a shell company to do a couple of quick tests - hey pronto, surpise surprise there is now a problem. There is at least one owner of a testing company running this scam in Chch

[Akzle]

meth use is fucking irrelevant.

cooking is arse.

but fucked if their tests will tell you the difference. someone is making a fucken boatload of money off that shit.

[Asher]

The highest reading was in the main bedroom at 37μg/cm2, the recommended level is 0.5.
I don't know what sort of readings they would get in a cook house vs just smoked house but I feel like it's just someone smoking it in bed on a Sunday morning before a big day of cutting people's hands off.

[R650R]

I'm currently looking at buying too for similar money.
One house that I'm looking at making an offer on tested positive for meth and they had to strip and clean the inside of the house. The report is in the LIM and it looks like they did a good job of cleaning the house and replacing alot of things but I'm not sure how it will affect the resale value.
What are people's views on buying a clean and renovated meth house?

From my understanding and research it seems it only makes it onto the LIM if its been a lab and at a level that is unsafe to inhabit. May vary from council to council. but the only way they are going to know (at the council) is either via the police or the owner having to make so much renovation to clean that its at consent required level, eg if they replaced structural gib (more likely in newer homes).
Basically 40% of all rentals are contaminated so if its been rented chances are ist contaminated. Also testing results vary widely, most of lower level tests are agregatted, y put all the samples in one pot and give you a kinda average reading.
Anything that has had decent decontamination cleaning will have had detailed post clean testing. Your not going to pay 5-10k plus and and not have it checked again to see they did the clean properly.
Yeah there is prob some hit on value but only if your buyers are doing their due diligence properly, still many speculators paying silly money and not checking places over...

[HEsch]

Late to the party but have recently purchased first property so have jumped through all the hoops. Feel free to ask if you want any other info.

FWIW, I had 20% equity in cash (which I did not need gifts, loans, HS grant or KS funds to reach), and a realistic budget (ie I could have gone higher, but didn't). I made a list of must haves, nice to haves and definitely don't wants. I was flexible with most of those things but wanted to steer away from certain suburbs.
I did extensive research and picked the brains of various friends, flatmates and family members in my search process. Kicked myself for not buying 3-5 years ago when the same property would have been 50% of the cost, but that's hindsight, such a wonderful thing that it is.

My lawyer quoted about $1500 + disbursements + GST for their fee (LIM, etc were extra) and I think came in at about 1600-1700 all up. I had the standard 10-day building report, 15-day LIM and "solicitor's clause" which is a sort of get-out-of-jail card, they can pull the plug for you without a reason. My solicitor suggested a variation to the agent's standard meth clause, to ensure it wasn't accepted by default if the reading was within safe levels (ie, she wanted me to be able to pull out if there was a reading that was higher than nothing but still under the accepted safe level).
Building report and meth test were 500-750. I didn't have to get a valuation. Bank didn't charge me the loan app fee, I just never signed that piece of paper; due to the low-ish value of the loan they only offered me $750 towards lawyer's fees but it wasn't worth upping my loan just to get another few hundred out of them.
I applied for HomeStart grant (got it) and to withdraw Kiwisaver (total fund, except 1000) because I can't touch that again for many many years (I consider the house a retirement savings plan, of sorts). The KS application took one working day to be processed and accepted - I guess not that many people put offers in around Christmas/New years. It helps if you actually read the docs, as the Housing NZ lady told me, and actually supply all of the things they ask for (apparently very common to leave out most of the requested information).

I found a good agent by chance. He did a lot of leg work for me, though I was an easy buyer to deal with (knew what I wanted, was flexible, had a pre-approved loan, etc). I found it good to work with him as he gave me feedback on houses from speaking to the listing agents, or could tell me when a house had an offer in and it wasn't even worth looking at (I had limited time to look due to working in a different city to where I was buying). He also steered me away from certain addresses that I didn't realise fell into certain "problem" areas in town. We steered away from auctions because I wasn't in a hurry to buy and hadn't been looking long... Two weeks searching, one day open homing & put in an offer two days after that on the second house I viewed, which was accepted.

I paid a little more than asking but realistically it was a good buy compared to other houses on the market. I was in a "multi offer" situation which works a little like an auction... The seller has multiple offers put on the table and picks one, or none. They may not negotiate with any of the offers, and you don't know what the others are, so you put your best offer in at the start and cross your fingers.

One thing I found hugely helpful to understand was how to structure my loan. Get some good advice about this that suits your finances/specific situation.
1) Mum suggested to aim to pay back interest and principal, rather than just interest, to actively reduce the amount of the loan over time.
2) I am seriously dedicated to saving, and have an irregular second income stream (ie I can't rely on it but sometimes it's a nice 'extra', on top of my salary) so decided to have a portion on a Floating rate. DO NOT DO THIS IF YOU WILL NOT PAY IT BACK EARLY - you just spend more on the interest than if you 'fix' it. It is a great option if you will have extra cash that you can put towards the loan, because you don't get penalised for early/additional repayments.
3) You can always re-fix the floating portion if your situation changes ie you realise you won't be paying it back early.
4) Whenever I manage to throw extra at the floating portion, I keep my fortnightly repayments the same, to help pay it off even faster.
5) The rest I split between a one-year term and a four-year term. This helps buffer changes that may occur in interest rates ie not everything is due for re-financing at the same time, some parts might go up and others won't for a while, etc.
6) Always talk to your bank before making extra repayments on a fixed term loan - they will advise if any extra fees will apply, or if it is better to instead pay that amount back when refinancing. I discussed options for extra repayments with my bank before choosing how much I would put in each part, ie I can increase my regular repayment amount by up to $500/time but it has to be a permanent change not a one-off thing.
7) always work out what repayments would be if the interest rates double and make sure you can service that amount of repayment, not just the current amount. In the current lending market, we are not likely to see decreases in interest rates.
8) not sure how relevant this is in the NZ market, all the info I found was from the AU or US, but consider fortnightly repayments instead of monthly. There are 26 fortnights in a year, but only 12 months (12 x 2 is 24, not 26... So you essentially make two extra payments each year on a fortnightly schedule, meaning you pay your loan off faster overall). The faster you can (reasonably) pay your loan back, the less you will spend in interest. Even $1 extra per payment will shave months off the tail end of a 30-year loan. Interest is calculated daily so the fortnightly payments also save you (cents) each month.

Good luck!

[R650R]

The highest reading was in the main bedroom at 37μg/cm2, the recommended level is 0.5.
I don't know what sort of readings they would get in a cook house vs just smoked house but I feel like it's just someone smoking it in bed on a Sunday morning before a big day of cutting people's hands off.

If its bad there will be a noticeable smell, check out some of the test sites for info. A very bad place youll prob get a headache just standing inside viewing the place.....

[Swoop]

Even $1 extra per payment will shave months off the tail end of a 30-year loan. Interest is calculated daily so the fortnightly payments also save you (cents) each month.

You sound like a well structured and dedicated saver.
IF a person is a saver and not a "spend it now!!" person, look at an Orbit loan (ASB name for it, other banks will have similar).
This is essentially a huge cheque account overdraft. The advantage is that every last cent goes into it, so technically reducing the amount still owing. This makes the amount that is used to calculate your fortnightly repayment less = faster to pay off.
I swapped over from a reducing loan to this and it made a massive difference in getting the mortgage paid off. The bank wasn't keen on helping to move onto the Orbit, since they make less money from you...

[R650R]

Going to full on mancave/workshop the shed from the start. Dble garage clean slate design....
So painted/sealed workshop floors vs straight concrete, pros and cons?????

Also one thing I thought of changing in my current set up was to only have workbench space down entire one side of the garage and rest as free traffic zone and working areas.... opinions?

[russd7]

Going to full on mancave/workshop the shed from the start. Dble garage clean slate design....
So painted/sealed workshop floors vs straight concrete, pros and cons?????

Also one thing I thought of changing in my current set up was to only have workbench space down entire one side of the garage and rest as free traffic zone and working areas.... opinions?

definitely a thumbs up for painted or sealed floor workshop, we did that at work and it makes a huge difference in keeping it clean, as for workbench down all of one side, you lose a lot of wall space if you do that, my workbench in my garage is only about 1.8m and i built shelves for storing stuff that couldn't be hung on walls, shadow board for the tools, sloped shelf for my two main socket sets (1/4" drive and 1/2" drive) and big grinder and skilsaw, all else is on shadow board, so much easier

[Autech]

I'm currently looking at buying too for similar money.
One house that I'm looking at making an offer on tested positive for meth and they had to strip and clean the inside of the house. The report is in the LIM and it looks like they did a good job of cleaning the house and replacing alot of things but I'm not sure how it will affect the resale value.
What are people's views on buying a clean and renovated meth house?

Where are you looking to buy and what price range mate?


Sent from my iPhone using Tapatalk

[HEsch]

You sound like a well structured and dedicated saver.

Yep that's me to a T - decide what I want and work to get there.
I got flatmates, who pay 2/3 of my mortgage for the privilege (???) of living with me, which means I can throw more at the mortgage. At the same time, I don't want to get sucked into only thinking about paying off the mortgage as quickly as I can, so I've balanced it with other savings/spending on 'fun' stuff. EG bought my first bike two months after the house ;)

[QUOTE=Swoop;1131044566]IF a person is a saver and not a "spend it now!!" person, look at an Orbit loan (ASB name for it, other banks will have similar).
This is essentially a huge cheque account overdraft. The advantage is that every last cent goes into it, so technically reducing the amount still owing. This makes the amount that is used to calculate your fortnightly repayment less = faster to pay off.
I swapped over from a reducing loan to this and it made a massive difference in getting the mortgage paid off. The bank wasn't keen on helping to move onto the Orbit, since they make less money from you...

With the low interest rates on savings, this is looking more and more attractive. I think it's usually structured so that you don't get any interest on the "offset" portion (essentially your 'savings') but also don't incur interest on an equal amount of your loan. I didn't look into it enough to decide whether it was a good idea for me, or not - ie can I only have a portion as an offset/Orbit type loan, or does it need to be the total loan? Because I think it is at the floating/variable rate, which is always higher, and subject to change much sooner than a fixed term loan.
Definitely need to check it out...

[Asher]

Where are you looking to buy and what price range mate?


Sent from my iPhone using Tapatalk

I'm looking for a renovated character house for less than 400k. Not too bothered about location but preferably something central.
Most of the places I have looked at are in Woolston, Marehau, Spreydon and Sydnam but the decomtaminated meth house is in Richmond.
I'm hoping to put an offer on it by the end of the week.

My situation is slightly different than others here, my girlfriend and I are pooling our kiwisaver together but that combined with the kiwisaver grant is less than 20% deposit so we are getting the loan guaranteed by HNZ. Hopefully we will hear back from them this week but I was going to talk to our mortgage broker today about how to best structure an offer without having our finances completely sorted.

[jasonu]

. May vary from council to council. .

Well that's fucking stupid. In a country as small as NZ one would think there could be a clear and concise level at which the house is either inhabitable or not.

[Moi]

Well that's fucking stupid. In a country as small as NZ one would think there could be a clear and concise level at which the house is either inhabitable or not.

I think the expression you want is Laissez-faire

[jasonu]

I think the expression you want is Laissez-faire

Naaa mate I think 'fucking stupid' sums it up.

[Moi]

Naaa mate I think 'fucking stupid' sums it up.

That as well!

[Zedder]

Well that's fucking stupid. In a country as small as NZ one would think there could be a clear and concise level at which the house is either inhabitable or not.

As I understand it, there isn't because the research was done around sites where meth was manufactured only and the information taken from that has been used out of context.

However, I see NZ has a single guideline from the Ministry of Health, unlike the USA, where it varies from state to state.

[R650R]

As I understand it, there isn't because the research was done around sites where meth was manufactured only and the information taken from that has been used out of context.

However, I see NZ has a single guideline from the Ministry of Health, unlike the USA, where it varies from state to state.

Its a bit ambiguous too as :The revised October 2016 MoH recommendations now define post decontamination levels based on whether meth contamination is due to the use of methamphetamine or due to the manufacture of methamphetamine: Where manufacture has occurred, the revised post decontamination recommendation remains at 0.5μg/100 cm2 (individual sample); Where use alone has occurred, the revised post decontamination recommendations are; 2.0 μg/100 cm2 uncarpeted properties (individual sample); 1.5 μg/100 cm2 carpeted properties (individual sample).
This is kinda crazy for several reasons as typically the wall surfaces are sampled, so pull out the carpet and you can claim higher safe level limit, when the walls will have had the same levels exposed no matter what....
Also the lower level of 0.5 only applies IF evidence of lab. So if property not raided by cops and the tenants and their gear are all gone before you test a house then you can say its 'safe' to new occupants....
Agent i spoke to says you can really smell strong smell when ti has been lab tho.

Anyway its all getting updated soon, I wouldnt want to be a landlord as I feel its going to get expensive, around 40% of tenanted properties are exposed to some degree... shows how big the problem is.

[Zedder]

Its a bit ambiguous too as :The revised October 2016 MoH recommendations now define post decontamination levels based on whether meth contamination is due to the use of methamphetamine or due to the manufacture of methamphetamine: Where manufacture has occurred, the revised post decontamination recommendation remains at 0.5μg/100 cm2 (individual sample); Where use alone has occurred, the revised post decontamination recommendations are; 2.0 μg/100 cm2 uncarpeted properties (individual sample); 1.5 μg/100 cm2 carpeted properties (individual sample).
This is kinda crazy for several reasons as typically the wall surfaces are sampled, so pull out the carpet and you can claim higher safe level limit, when the walls will have had the same levels exposed no matter what....
Also the lower level of 0.5 only applies IF evidence of lab. So if property not raided by cops and the tenants and their gear are all gone before you test a house then you can say its 'safe' to new occupants....
Agent i spoke to says you can really smell strong smell when ti has been lab tho.

Anyway its all getting updated soon, I wouldnt want to be a landlord as I feel its going to get expensive, around 40% of tenanted properties are exposed to some degree... shows how big the problem is.

It's about the carpet because of babies and toddlers who spend a lot of time on the floor. The pending NZ Standard will supercede the MoH recommendations and is meant to take care of any loose ends. Yes, it does appear to be a big problem.

[R650R]

It's about the carpet because of babies and toddlers who spend a lot of time on the floor. The pending NZ Standard will supercede the MoH recommendations and is meant to take care of any loose ends. Yes, it does appear to be a big problem.

Yeah I meant to add that. Getting a place tested at the moment, done a lot of research, will write up a summary of useful info in couple months.
One thing to know tho, the common prepurchase meth test is an average type thing. A 'tester' swabs multiple places and the samples all go into one pot or beaker/testtube as the case may be. Your final reading is an average which either tells you that there is no contamination (at the sampled 10cm/x10cm sites) or that there is some. The next stage of actually establishing location and how bad in an accurate way is about 10 times more expensive.
And that's assuming that the current owner hasmnt just wallpapered or painted over the contamination (which will eventually seep through).

[Asher]

The house we are looking at had another open home on sunday so we swung past to arrange a time to make an offer and noticed alot of fresh borer holes by the front entrance in the weather board. Had a look around the house again there was a huge amount along one entire side of the house. Probably hadn't noticed it before as borer are coming out of the wood now and the last 2 times I looked over the place was at night.
So I told the agent that unless the owner would accept a really low offer (40k below asking) we will be walking away.


330803

[Grumph]

Bit of borer shouldn't put you off. Our place is over 125 years old and yes, shock horror, has some borer.
The affected walls didn't do any worse than the good ones in the quakes, in some ways actually better...

They're not like termites, I'd never write off a potential purchase cos of borer - and you can treat for it anyway.

As a side issue, I hear that borer doesn't like P contaminated timber....

[Asher]

Agreed but I don't know how bad it is behind the weather board, and we are paying the money for places that have had this sort of thing fixed already.

[Zedder]

Yeah I meant to add that. Getting a place tested at the moment, done a lot of research, will write up a summary of useful info in couple months.
One thing to know tho, the common prepurchase meth test is an average type thing. A 'tester' swabs multiple places and the samples all go into one pot or beaker/testtube as the case may be. Your final reading is an average which either tells you that there is no contamination (at the sampled 10cm/x10cm sites) or that there is some. The next stage of actually establishing location and how bad in an accurate way is about 10 times more expensive.
And that's assuming that the current owner hasmnt just wallpapered or painted over the contamination (which will eventually seep through).


What you've described is composite sampling as opposed to grab sampling which is one sample per test. Grab samples are advantageous in that you get either a positive or negative result for a particular area but a number of single grab samples are expensive, hence the use of composite sampling.

It'll be interesting to see some results.

[R650R]

Old lead roofing nails....

Builders report recommends replacing blah bl;ah blah as they rust from the inside out and start the roof rusting away from around nail holes....
At current place have replaced the old loose roof nail over years. Is this a real issue or a case of if its not broke dont fix it just leave it and give roof good paint.
Roof in good condiction apart from minor amounts of rust on some flashings.

[RDJ]

Old lead roofing nails.... Builders report recommends replacing blah bl;ah blah as they rust from the inside out and start the roof rusting away from around nail holes.... Is this a real issue or a case of if its not broke dont fix it just leave it and give roof good paint.

The plural of anecdote is not always data, but:

My two bike sheds are actually turn-of-the-century stables. Corrugated iron roofing fitted with the lead nails which has done exactly as described to you, = rusted and rotted away where it's been nailed to the beams, with the nails as Rust Focus Central. And a few times a year I pick up the lead nail heads which have come adrift and fallen down onto the parking area.

Reroofing them sheds is a plan for this year; the buckets are filling up too quickly with rain :-)

[HenryDorsetCase]

Well that's fucking stupid. In a country as small as NZ one would think there could be a clear and concise level at which the house is either inhabitable or not.

we have 56 different bodies who are involved with supplying town water, monitoring its quality, and prosecuting any breaches. so why be surprised if every council sets its own priorities.

Personally I dont think we need local government at all. I am a fascist (in the classical sense) though.

[HenryDorsetCase]

http://www.stuff.co.nz/business/money/92458674/colleen-warin-dismayed-by-publicity-disappointed-with-judgment-on-unpaid-loans-to-parents


faaaaaaaaark. Hope the lawyers made a lot of money.

[jasonu]

http://www.stuff.co.nz/business/money/92458674/colleen-warin-dismayed-by-publicity-disappointed-with-judgment-on-unpaid-loans-to-parents


faaaaaaaaark. Hope the lawyers made a lot of money.

What a miserable cunt.
When considering the parents age, Nigel is the one really getting the shaft.

[R650R]

We'll I've put an offer in a grossly inadequate hovel of a cave.... waiting now.... lessons learned so far.

1) Real estate agenst are genrally absolutely useless sources of info, they rival politicians in being able to speak yet saying nothing at the same time........
2) photos will generally look five times better than the actual property............

Updated, now gone unconditional.....

Point 1, add to that, record the MoFo real estate agent and their vague description of things.
Put any important questions and issues in writing, get slightly slower response but more accurate as its in writing. Also CC into the conversation your lawyer and the Manager of reale sate too gets results.

Builders report paid for itself, discovered a slow exisiting shower leak between mixer and wall common to that type. Agent and vendor effected a $300 repair on their part.
Also handy having the builder report as everthing documented in one place with photos and with them doing it all the time they look at things you might forget about yourself. Could have had abuilde rmate look at it but feel money well spent anyway. Used these guys as the only place that had example downloads of their reports to see what they show you.

http://www.thehabit.co.nz/our-reports

Also dont muck about getting everything sorted during conditions period. I have good broker firend so assumed insurance wouldnt be an issue for me. A few technical issue meant some major stress and things going right down to the wire at the end of my 10 day period.

Dont spend too much before you get the place. Even though i set out a budget to start with lots of extra little bits add up and very fast, cashflow becomes an issue quickley.
Another month till settlement /possesion so an update then....

[R650R]

Well woohoo took possession Friday, got a very good locksmith to pick keys up from rela estate while I was at work and met him at house changing locks.

All very good except for tenant after doing very good job cleaning inside of house and property came back and dumped their couch and some rubbish on grass verge outside at 6am on possession day.
Kicked up a stink with agent and my lawyer jew and their all kinda washing their hands of it and I guess its not the actual vendor at fault and it is technically public land on the verge....

Dragged it into corne rof driveway out of respect to my very good new neighbours and disposed of rubbish. But you'd think rela estate would have ahnady man or someone to take care of issues like this, cant be the first time.

Bank lived up to their promise of $1700 cash towards lawyerjew fees even tho strabgely it wasn't documented apart from if I switch banks withen three years I may have to return it.

Good thing about a crappy tenant having been in their is neighbours welcoming me a normal person with open arms. Have four possibly five very good neighbours.

Being a corner section ive measure my fencing needs at a whopping 48m!!! plus 6 m gate for double width driveway.....

Busy times ahead.....

[haydes55]

Congrats.

You started looking at houses in December, 8 months after I put an offer on the house I'm buying. And you've taken possession (assuming settled as well?). I'm still not paying rent/mortgage, living in the house for 11 1/2 months without settling yet.

Funny thing is, since I've had this offer accepted, both of my brothers and my parents have all bought a house each and settled. None of them were even looking at houses when I put the offer in on this house.

[Asher]

If anyone is interest in my progress:

We went unconditional on a 6 year old town house on Friday. The conditional process wasn't too hard, the broker and the bank made it pretty easy to sort the insurance and finance through Housing NZ.
The hard parts was getting the kiwisaver put in time for the deposit and getting hold of the solicitor who would never answer their phone.

It's worth reiterating that you shouldn't fuck around once the offer is accepted. Our kiwisaver came through on the 10th day and the vendor had received an offer $10k higher than ours after ours was accepted so it would have been unlikely that we would have been able to extend the conditional period.

Settlement is in 6 weeks which can't come soon enough

[R650R]

Congrats.

You started looking at houses in December, 8 months after I put an offer on the house I'm buying. And you've taken possession (assuming settled as well?). I'm still not paying rent/mortgage, living in the house for 11 1/2 months without settling yet.

Funny thing is, since I've had this offer accepted, both of my brothers and my parents have all bought a house each and settled. None of them were even looking at houses when I put the offer in on this house.

Cheers. Yeah I've seen houses that I was looking at several months ago freshly on the market popping up on homes co nz as sold withen about 2 months. Some remarkably above expected prices.
Modern low maintainance townhouses in good street and 2 bedromm houses and units seem to sell very fast. And if its family friendly whoosh its sold.....

[R650R]

If anyone is interest in my progress:

We went unconditional on a 6 year old town house on Friday. The conditional process wasn't too hard, the broker and the bank made it pretty easy to sort the insurance and finance through Housing NZ.
The hard parts was getting the kiwisaver put in time for the deposit and getting hold of the solicitor who would never answer their phone.

It's worth reiterating that you shouldn't fuck around once the offer is accepted. Our kiwisaver came through on the 10th day and the vendor had received an offer $10k higher than ours after ours was accepted so it would have been unlikely that we would have been able to extend the conditional period.

Settlement is in 6 weeks which can't come soon enough

Congrats... yeah plus one on that conditional period, its the moment you wield the most power. During that time the agent will return your calls very fast and get stuff done. I made mistake of assuming insurance would be easy having a broker friend but some technical issues saw that going down to the wire.

[R650R]

So an update, after getting fobbed off by agent the owner of real estate company has come to the party, instantly paying my invoice for window latches soon as I emailed him copy and even extra stuff on there that I bought so $50 up on the deal. He is also have the feral trashes couch taken away tomorrow.
Taking all of the ferals mail straight to NZ post return to sender does not live here marked.....
Now in process of clean and refurbish before moving in.....

[neels]

During that time the agent will return your calls very fast and get stuff done.
Best thing you can do, make the agent do the running around while sorting the conditions, and leave the lawyers out of it until it's actually time to confirm.


Taking all of the ferals mail straight to NZ post return to sender does not live here marked.....
Now in process of clean and refurbish before moving in.....
I'm still getting mail for the people before the people before the people we bought our house from, all of it gets marked return to sender, no forwarding address and dropped in the nearest post box. I'm sure those letters from WINZ and suchlike aren't important.

I've always found when you move in the house is a lot filthier than it looks when you walk through, best time to clean is before you spread your stuff around the place, then again I might just be a fussy prick after being in the forces.

Hopefully I'll find some time to ring the insurance company tomorrow, and see how the land lies in churchur these days for buying a house, good thing is if it doesn't happen I waste some people's time and walk away giving zero fucks.

[EJK]

Hey all it's my turn to ask questions now.

What are your opinions on RV and neg prices? Seems quite of sum of houses in Christchurch are currently being sold under RV figures (2016).

I know RV doesn't necessarily represent market value but is it an optimistic figure?

[neels]

Hey all it's my turn to ask questions now.

What are your opinions on RV and neg prices? Seems quite of sum of houses in Christchurch are currently being sold under RV figures (2016).

Thoughts?

Yep, I think the 2016 RV's were influenced by the peak of after earthquake house buying frenzy, things have settled a bit now and I've seen quite a few for sale and sold 5-10% less than current RV. I suspect there could be a few people that were desperate and paid over the odds who could end up taking a bit of a hit if they sell now.

As always offer stupid low, but not so low to be insulting, and see if you end up somewhere acceptable. homes.co.nz is a good start to see how much the last buyer paid for the place....

[HEsch]

In my neck of the woods, houses are generally going for 20-25% more then CV (current valuation as per Council). I don't have anything to compare to RV. Hamilton has gone flat (0.3?% increase since Dec), Auckland is apparently "dropping" (I think more people are buying smaller places, apartments, etc, which means the total value appears to be lower compared to number of sales).

Check what you can about the property's last sale value and the values of sales in the area. Those prices tend to show you more about the value (but then that's what any valuer does - looks at what's selling in the area and finds similar things to the one you're looking at). There's a lot of magic 8 balling with valuations.
I also looked at houses above and below my price point (I wanted to spend 450, so I looked at anything from 300 to about 600) just to get a feel for the condition, age, etc, of the properties, and their listed and sale prices. I felt it gave me the confidence to say the one I bought was priced accurately and I paid a fair price for it (a tiny smidge above asking).

[neels]

And there ya go....

https://www.stuff.co.nz/business/94418443/christchurch-leads-cooling-house-market-trend

[HenryDorsetCase]

In my neck of the woods, houses are generally going for 20-25% more then CV (current valuation as per Council). I don't have anything to compare to RV. Hamilton has gone flat (0.3?% increase since Dec), Auckland is apparently "dropping" (I think more people are buying smaller places, apartments, etc, which means the total value appears to be lower compared to number of sales).

Check what you can about the property's last sale value and the values of sales in the area. Those prices tend to show you more about the value (but then that's what any valuer does - looks at what's selling in the area and finds similar things to the one you're looking at). There's a lot of magic 8 balling with valuations.
I also looked at houses above and below my price point (I wanted to spend 450, so I looked at anything from 300 to about 600) just to get a feel for the condition, age, etc, of the properties, and their listed and sale prices. I felt it gave me the confidence to say the one I bought was priced accurately and I paid a fair price for it (a tiny smidge above asking).

Capital Value and Rating Value are effectively synonyms. Neither are a substitute for MV or Market Value.

Your strategy for buying is a good one.

[Akzle]

anyone else remember that time that everyone got fucked over except for the banks and the jews that own them?


mmm. fremarketeconomoney. cos... ehh, well...

[R650R]

RV, Cv all lots of same names as what used to be known as Gv government valuation. Back in the day the GV used to be fairly close to what somethign was worth. In todays market places often sell for well over or sometimes under both known as market value.
When i went to bank their online valuer service priced about same as homes.co site number....
When I decided on what i was buying in this inflated market i looked a lot at section size and location, thats always worth something, especially if say your house burns down and your insurance has expired etc,,, just imagine that in an expensive modern townhouse on small section.....
At the moment two bedroom places, low maintainace and safe location seems to be selling high and fast...
Also if somewhere has a shitty house but the section size and layout lends it self to subdividing then its worth more than you think....

My biggest advice is buy what you can afford. I could have borrowed slightly more but jesus all the odds and ends afterwards add up fast...
Map out your cashflow before offer and at least two months after as a forecast.


Todays mission, put heatpump back together after cleaning filters and get new universal remote to talk to it....... lots of swearing seemed to help.
Scrubbed up all the bigger bits with suagr soap and shes looking like new.

[eldog]

anyone else remember that time that everyone got fucked over except for the banks?


mmm. fremarketeconomoney. cos... ehh, well...


Yes, all too well.

this cycle is repeating itself, again.

its a matter of spotting the sudden panicking change of fortune and making sure your able to withstand the storm or lack of work/defaulters etc.

all to well I remember it.......

[eldog]

Best thing you can do, make the agent do the running around while sorting the conditions, and leave the lawyers out of it until it's actually time to confirm.


I'm still getting mail for the people before the people before the people we bought our house from, all of it gets marked return to sender, no forwarding address and dropped in the nearest post box. I'm sure those letters from WINZ and suchlike aren't important.

I've always found when you move in the house is a lot filthier than it looks when you walk through, best time to clean is before you spread your stuff around the place.

The agent was in it for her own good, didn't present offers to vendor, in the end I got advice from another real estate agent, on whose advice I contacted the vendor, who didn't realise I had put in multiple offers.

Real estate had the check to say in a neighbour hood ad drop that I was happy with her work. Subsequently has moved 2 real estate agencies......

For more than 8 years got mail for previous owners, no matter what wrote on letters for return to sender.

my parents continually get parking fines, speeding tickets etc etc for someone who lives in another town with the same road name. No matter what they do, the authorities won't change the address, even though it's so easy to check....... took me 2 minutes.

[HEsch]

My biggest advice is buy what you can afford. I could have borrowed slightly more but jesus all the odds and ends afterwards add up fast...
Map out your cashflow before offer and at least two months after as a forecast.

This.

Based on savings, the bank would have lent me an insane amount of money. I declined, settling for a "reasonable" amount of debt (which still seems insane, but is manageable).
Some smart cookie suggested I make sure I could service my mortgage if the rates doubled (ie 10% rather than 5%). Another one suggested that, while a lower interest rate does help, a slightly higher interest rate but paid off more quickly is more likely to save you money than slow repayment with a low interest rate (make compound interest work for you, not against you).

I also did the sums and managed to get away with structuring a 20-yr mortgage instead of a 30-yr one, at the same repayment as my pre-approval (which is done using the variable interest rate ie the highest one).

[Moi]

...Some smart cookie suggested I make sure I could service my mortgage if the rates doubled (ie 10% rather than 5%).

For those of us buying in the early to mid-1980s mortgage rates did a little more than double... try 22%.

However, in all fairness, the mortgage was only $55 000.00...

At the time the real estate agent said that worrying about rateable value or rentable value or unimproved value or whatever "value" the local council was using to set rates was a waste of time... the most important value was the one that both seller and buyer agreed upon and were both happy with.

[eldog]

For those of us buying in the early to mid-1980s mortgage rates did a little more than double... try 22%.

However, in all fairness, the mortgage was only $55 000.00...

At the time the real estate agent said that worrying about rateable value or rentable value or unimproved value or whatever "value" the local council was using to set rates was a waste of time... the most important value was the one that both seller and buyer agreed upon and were both happy with.

some had higher than 22%, some went to the wall, some went over the edge.
Some sacrifaced everything.....

i hope that this at least runs for another 3-5 years
its all cycles, just much quicker ramps up and down with the internet panic attacks.
look at the price of milk how it has changed over the years.

[eldog]

This.

Based on savings, the bank would have lent me an insane amount of money. I declined, settling for a "reasonable" amount of debt (which still seems insane, but is manageable).
Some smart cookie suggested I make sure I could service my mortgage if the rates doubled (ie 10% rather than 5%). Another one suggested that, while a lower interest rate does help, a slightly higher interest rate but paid off more quickly is more likely to save you money than slow repayment with a low interest rate (make compound interest work for you, not against you).

I also did the sums and managed to get away with structuring a 20-yr mortgage instead of a 30-yr one, at the same repayment as my pre-approval (which is done using the variable interest rate ie the highest one).

Keep the smart cookie on....

allow to pay at double current rate.

if you can pay off at a faster rate, then do so earlier the better. At least that's what I am doing. Sacrifice some things now for faster and less $ overall paid

pays to ask bank questions, you may get a better deal. You can always go back along the way and restructure, you just need to ask, the asset isn't going away. Bank fell over themselves when I put a plan in front of them.

if things turn to bad custard you can always sell asset and move on.

[Akzle]

look at the price of milk how it has changed over the years.

5.3 jewgolds for a pound of butter. and counting. what. the. actual. fuck.

[eldog]

5.3 jewgolds for a pound of butter. and counting. what. the. actual. fuck.

Ya don't need it or marg.

only have it for cooking or when having crumpet :spanking:

[pete376403]

Ya don't need it or marg.

only have it for cooking or when having crumpet

Or re-enacting "Last Tango in Paris" (or, as you said, having a crumpet)


http://www.dailymotion.com/video/x55kcrl

[sidecar bob]

5.3 jewgolds for a pound of butter. and counting. what. the. actual. fuck.

It is possible to make your own if you think there are savings to be had doing it that way.
To me it would be a bit like walking to work, the $2 of petrol it costs me to get there is more economical than arriving an hour later.

[Akzle]

Ya don't need it or marg.

only have it for cooking or when having crumpet :spanking:

what the fuck else would i use it for? i don't eat bread...
and margarine is five kinds of homogenised cancer-causing arse.

[Akzle]

It is possible to make your own if you think there are savings to be had doing it that way..

no shit. but what the fuck am i going to do with a gallon of skim milk??

[sidecar bob]

no shit. but what the fuck am i going to do with a gallon of skim milk??

Dry it & smoke it?

[HEsch]

Keep the smart cookie on....

allow to pay at double current rate.

if you can pay off at a faster rate, then do so earlier the better. At least that's what I am doing. Sacrifice some things now for faster and less $ overall paid

pays to ask bank questions, you may get a better deal. You can always go back along the way and restructure, you just need to ask, the asset isn't going away. Bank fell over themselves when I put a plan in front of them.

if things turn to bad custard you can always sell asset and move on.

Yeeep, not so attached to it that I would keep it and sink. Paying it off as fast as I can, while still having a tiny bit of play money to enjoy. Work unexpectedly came to the party last week and upped my salary after year-end review, which I was not expecting based on only having been there for 6 months... I like these guys and am glad I decided to work for them.

[Akzle]

Dry it & smoke it?

im not sure you comprehend how milk solids work

[Maha]

im not sure you comprehend how milk solids work

Care to demonstrate how you would milk a solid?

[EJK]

Ok, how about plaster house. Is the "Plaster house leaks" rumour still valid? It's plaster over 50mm AAC panel.

What are your thoughts?

[Akzle]

Ok, how about plaster house. Is the "Plaster house leaks" rumour still valid? It's plaster over 50mm AAC panel.

What are your thoughts?

shit.

they're shit.

it was the lack of eaves that fucken shat it for those plans. oh. and internal gutters.

but nah. fuck chilli bin houses.

[neels]

Ok, how about plaster house. Is the "Plaster house leaks" rumour still valid? It's plaster over 50mm AAC panel.

What are your thoughts?
Biggest question is when was it built?

If it has eaves, and the windows aren't slotted in from the outside and sealed with silicone, then it might be ok and a building report with moisture testing will usually find any issues. As far as the framing issues are concerned, most of them were sorted by adding battens to create an air gap to the cladding unlike the 90's poly or hardies direct on to framing, much like was always done with brick houses.

For reference purposes, I lived in the first house (normal house with eaves and plaster over poly) and there were no issues, the second one is for sale stupid cheap and I wouldn't touch it with a barge pole.

[EJK]

Just thought I'd further contribute to this thread if anybody is interested.

Just a little background about my situation: I'm a first home buyer. Scraping every cent off KiwiSaver I can and sucking every dollar out of Home Start Grant then breaking my piggy bank to gather 10% deposit.

So the vendor accepted my offer last week and have gone conditional.

So far I've been running around calling here and there sorting out lawyer, building inspection, LIM report etc. Been busy. Driving me nuts.

I just want to say tho, sorting insurance was the easiest. I went with Amicus brokers and literally (I mean literally) I got pre-approval granted in 5 minutes. Because the house was a new build they didn't had to go through EQC documents, Geotech reports or other paperwork. The broker just said "that's good enough I have authority to grant it on the spot. I'll send the confirmation/ certificate of currency now". Couldn't have been easier. Ordering a sandwich from Subway was more complicated in comparison.

Pre-purchase building inspection is being done through Property Check. They were very prompt and is scheduled to be done today.

Also I'm getting my mortgage through Simon from Loan Market. He is awesome. Again, very prompt and he knows what he's doing. Highly recommended.

I'm doing my lawyer stuff through Cameron and Co. The guy who works there is a real good friend of mine. Been working day and night sorting all paperwork behind the scene. Texts me every updates like NZ Courier tracking. Never missed my calls.

Fingers crossed.

[Asher]

Good luck. Is that the place near me?

[EJK]

Good luck. Is that the place near me?

Thanks! Yeah. If Usain Bolt can run through walls, he could get to your house in 10 seconds.

[Asher]

Will have to point the bike exhausts at your open windows when warming them up.

[Laava]

Ok, how about plaster house. Is the "Plaster house leaks" rumour still valid? It's plaster over 50mm AAC panel.

What are your thoughts?

The panels are a good substrate for plaster as they are a very similar product and it will be installed on a cavity system which gives the panels better integrity as they don't have to flex every which way with the timber framing. They will be probably either 50 or 70 mm thick. So long as the windows are installed correctly you should be sweet, no doubt your builders report will go into all this in great depth. Is it double glazed and when is the housewarming?

[EJK]

The panels are a good substrate for plaster as they are a very similar product and it will be installed on a cavity system which gives the panels better integrity as they don't have to flex every which way with the timber framing. They will be probably either 50 or 70 mm thick. So long as the windows are installed correctly you should be sweet, no doubt your builders report will go into all this in great depth. Is it double glazed and when is the housewarming?

Yeah it's built to latest building standards so I'm not too fussy. Yes it's double glazed and depends on when the next CC Challenge to the Bluff is.

[HenryDorsetCase]

Ok, how about plaster house. Is the "Plaster house leaks" rumour still valid? It's plaster over 50mm AAC panel.

What are your thoughts?

a lot will depend on how old it is and who applied it and whether there is a cavity.

Also there was a lot of fake AAC panel bought into christchurch after the earthquakes: it was labelled hebel but wasnt hebel.

[HenryDorsetCase]

Biggest question is when was it built?

If it has eaves, and the windows aren't slotted in from the outside and sealed with silicone, then it might be ok and a building report with moisture testing will usually find any issues. As far as the framing issues are concerned, most of them were sorted by adding battens to create an air gap to the cladding unlike the 90's poly or hardies direct on to framing, much like was always done with brick houses.

For reference purposes, I lived in the first house (normal house with eaves and plaster over poly) and there were no issues, the second one is for sale stupid cheap and I wouldn't touch it with a barge pole.

I had a guy buy a house with a valuation of 1.2M his year for under $700k because it was the classic "leaky" home like your no 2. He and his builder are going to re-clad it (with a cavity and using Hebel AAC) and create some eaves and probably replace the window joinery. He reckons total will be under $200k, and once that is done (with proper plans, documentation, a decent builder and code compliance) he will be able to get $1.5 for it.

When he was looking at it, they very carefully moisture tested every exterior wall in multiple locations high and low, for obvious reasons. No problem so they are pretty confident the structre is sound... even if it isnt, all the cladding will be off, so no drama to fix.

[Laava]

I had a guy buy a house with a valuation of 1.2M his year for under $700k because it was the classic "leaky" home like your no 2. He and his builder are going to re-clad it (with a cavity and using Hebel AAC) and create some eaves and probably replace the window joinery. He reckons total will be under $200k, and once that is done (with proper plans, documentation, a decent builder and code compliance) he will be able to get $1.5 for it.

When he was looking at it, they very carefully moisture tested every exterior wall in multiple locations high and low, for obvious reasons. No problem so they are pretty confident the structre is sound... even if it isnt, all the cladding will be off, so no drama to fix.

Yep, costs and quotes swing wildly in every direction, these purchases are great for those who can be realistic about making them good and a nightmare for others...

[Ocean1]

Yep, costs and quotes swing wildly in every direction, these purchases are great for those who can be realistic about making them good and a nightmare for others...

I wondered about the competence of the architects involved in some of those chili bins. A friend owned a company making handrails and stuff, and he was asked to make handrails to fit on top of 600mm high parapets around an internal balcony. The parapet was 100% faced and capped with styrene/plaster. He came to me to design and make spacers to penetrate the styrene and mount directly onto the underlying treewood.

I declined. I convinced him to decline the job too. But I mean, what the fuck? How did the architect imagine that was going to be accomplished? It's not as if you were ever going to get away with no handrail.

I eventually got dragged into a meeting with the architect, the builder and the owner. In spite of my outrageous quote for just that meeting. That was my first encounter with an architect with absolutely zero engineering insight. Before that I'd assumed they were all basically civil engineers with artistic pretensions. :laugh:

[Laava]

. Before that I'd assumed they were all basically civil engineers with artistic pretensions. :laugh:

Close, they are artists with engineering aspirations. It is always conceptual, some of them have the nouse to actually design, for instance a house, and draw the plans etc. but most employ a draughtsman and or engineer to make their concepts happen. This is how they are trained, I don't think engineering comes into it.
And yes the chilly bin thing has been one of the worst things to happen to building initially. Now they have it under control but it is still pretty awful. The AAC thing is completely different and is essentially the same as a brick veneer.

[ellipsis]

...architects...I've built architecturally designed homes and run across arrogant wanks who wont entertain the thought that a mere prick with a hammer could see something that they have not designed correctly and will get very shirty or even aggro...I've worked with some who are more than happy to run through designs before they commit to them, knowing that the prick with the hammer has thirty or more years experience than them...it's a bit of a human thing...some humans are cunts and others are not...I was called a 'braindead colonial', by one English architect and after consulting with the site overseer, was told to carry on, after all it was a spec house owned by the architect...I carried on knowing that what I was doing was wasting time and very wrong...when I had set out the floors and hung them where I had said they were wrong we called the architect to view the point of concern...it still took him five minutes to 'discover' that the floors were running through the bottom of the windows by a mere 350mm...my silence and deadpan expression probably came across as the demeanour of a 'braindead colonial', but it was masking great joy that this cunt was squirming...he tried for five minutes to will it right by staring at the plan and muttering that I must have done it wrong...just one of many architectural problems built into plans by wankers who may have never been on a jobsite without their 'Gucci', shoes on...some are great ...

[Swoop]

... the structre is sound... even if it isnt, all the cladding will be off, so no drama to fix.

Yes, with the cladding off it makes things "simpler". Not sure about "no drama" though.
If you discover shit happening in the framework, it gets exponentially bigger in a short space of time.





Agree with other's comments re architects...
Pretentious wankstains who have an subconscious desire to build monuments to themselves.

[HenryDorsetCase]

Yes, with the cladding off it makes things "simpler". Not sure about "no drama" though.
If you discover shit happening in the framework, it gets exponentially bigger in a short space of time.





Agree with other's comments re architects...
Pretentious wankstains who have an subconscious desire to build monuments to themselves.

Yeah. the difference here is the guy bought it to live in, so he is being super careful.

[Ocean1]

Close, they are artists with engineering aspirations.


...just one of many architectural problems built into plans by wankers who may have never been on a jobsite without their 'Gucci', shoes on...


Agree with other's comments re architects...
Pretentious wankstains who have an subconscious desire to build monuments to themselves.

Don't bother with any tact or actual diplomacy here, guys. :laugh:

Aye, I wasn't going to comment further but I was genuinely surprised to discover that architects were in fact people who drew pretty pictures, nothing more, purveyors of fashion.

[sidecar bob]

I live in a fairly "architectural" home.
It's fuckin lovely to live in, but some of the retardation is palpable.
Occasionally I want electrocute the electrician & drown the plumber.
You would have to live in it for a few months for most of it to dawn on you.

[HenryDorsetCase]

Don't bother with any tact or actual diplomacy here, guys. :laugh:

Aye, I wasn't going to comment further but I was genuinely surprised to discover that architects were in fact people who drew pretty pictures, nothing more, purveyors of fashion.

some are geniuses. Frank Lloyd Wright, John Neutra, Gehry, Eero Saarinen.

Having said that, their buildings are works of art and very difficult to live in. Also very maintenance intensive.

But, just as an example, you can thank Frank Lloyd Wright for, among other things (like Fallingwater) open plan living.

[HenryDorsetCase]

This is my favourite house, by any architect, anywhere in the world: John Neutra's "Oyler House"

https://www.google.co.nz/search?q=John+Neutra+oyler+house&tbm=isch&tbo=u&source=univ&sa=X&ved=0ahUKEwik15WE07rVAhXGHJQKHR5HB18QsAQILQ&biw=1280&bih=616

[Moi]

some are geniuses. Frank Lloyd Wright...

Oak Park, Chicago...

[HenryDorsetCase]

Oak Park, Chicago...

I really like the Hollyhock house (and a very innovative use of cast concrete) and the usonian houses - social housing kind of. Plus of course the Johnson building and some of those big commercial jobs.

We saw a movie a month or so back about Eero Saarinen and they spent a lot of time on the TWA terminal... which I think has been restored and is now a hotel. As a fan of the original THUNDERBIRDS, this really speaks to me:

https://www.google.co.nz/search?q=saarinen%27s+1962+twa+terminal&tbm=isch&imgil=RksU7NKOkSwQBM%253A%253BOt7oS8XPYxt1QM%253Bh ttp%25253A%25252F%25252Fwww.ifitshipitshere.com%25 252Fmax-touhey-photos-of-saarinens-1962-twa-terminal%25252F&source=iu&pf=m&fir=RksU7NKOkSwQBM%253A%252COt7oS8XPYxt1QM%252C_&usg=__7pqnKNs8xqrJ6eThIkknGVtFbVE%3D&biw=1280&bih=616&ved=0ahUKEwjpxsyr57rVAhXFjJQKHRd-Dz8QyjcIPw&ei=YfSCWamSGMWZ0gSX_L34Aw#imgrc=RksU7NKOkSwQBM:

[Moi]

I really like the Hollyhock house (and a very innovative use of cast concrete) and the usonian houses - social housing kind of. Plus of course the Johnson building and some of those big commercial jobs.

We saw a movie a month or so back about Eero Saarinen and they spent a lot of time on the TWA terminal... which I think has been restored and is now a hotel. As a fan of the original THUNDERBIRDS, this really speaks to me:

Charles Rennie Mackintosh...


Frank Lloyd Wright, like Mackintosh, designed the complete look...

[Laava]

Hundertwasser, and Gaudi

[Grumph]

To drag it back to reality...TALK TO THE NEIGHBOURS.

Our neighbours are currently out of their house - probably for a couple of months. Flooded.
They were told by the agent - yes that corner floods but the house has never been flooded. LIES
The LIM says - section subject to flooding. No record of previous evacuations.

They never asked us or AFAIK any other locals before buying.
After purchase, they flat disbelieved us....
They don't now.

[HenryDorsetCase]

Charles Rennie Mackintosh...


Frank Lloyd Wright, like Mackintosh, designed the complete look...

True - those chairs and built in furniture he did. The difference (for me anyway) is that what I really like is the Modernist (mid century modern, Bauhaus to the 1970's kind of: basically everyone's definitions differ, and I am only an enthusiast, not professionally trained) Mackintosh was earlier and sort of grew out of that Arts and Crafts movement. Which is cool and all, and I appreciate the history, but it doesn't speak to me in the same way, and I couldnt imagine myself living in one of his houses.

I could move into the Oyler house tomorrow: bonus I would be sharing it with Kelly Lynch!

[HenryDorsetCase]

To drag it back to reality...TALK TO THE NEIGHBOURS.



agree with this. Plus if the neighbours are dicks it will soon become apparent. Of course it doesnt stop the nice neighbours leaving and selling to dicks.

[neels]

Of course it doesnt stop the nice neighbours leaving and selling to dicks.
I suspect that's our neighbors view of what happened when we bought our current house.....

[Swoop]

... I was genuinely surprised to discover that architects were in fact people who drew pretty pictures, nothing more, purveyors of fashion.
I'd be ecstatic if they would draw informative pictures containing small details like "sizes" and "detail view"...
Most of them make lovely looking pictures, but having the same levels of use as a cartoon. Some days you'd get better information from a Footrot Flats drawing...




But, just as an example, you can thank Frank Lloyd Wright for, among other things (like Fallingwater) open plan living.

Recently read a book on his life. An interesting character to be sure.
His Taliesin West is a superb creation.

[HEsch]

Minor but semi-significant milestone - yesterday marked 6 months since I got the keys to my house.
Scheming about the next investment already...

[EJK]

Property Check came back with building inspection report. Amazing work. They check top to bottom and was well worth $650 for the information.

The house I'm looking at is a brand new build, only finished April this year. So I assumed everything would be "perfect" and thought of skipping building inspection. But no. Building inspector went really picky and picked up little shortcuts taken here and there and "tradie's Friday afternoon" works.

The report not only covered what's wrong but future problems and suggested ways to reduce risks and estimated maintenance cost considerations. Outstanding.

It's amazing. No wonder they are professionals.

[HenryDorsetCase]

Property Check came back with building inspection report. Amazing work. They check top to bottom and was well worth $650 for the information.

The house I'm looking at is a brand new build, only finished April this year. So I assumed everything would be "perfect" and thought of skipping building inspection. But no. Building inspector went really picky and picked up little shortcuts taken here and there and "tradie's Friday afternoon" works.

The report not only covered what's wrong but future problems and suggested ways to reduce risks and estimated maintenance cost considerations. Outstanding.

It's amazing. No wonder they are professionals.

touch them up for a price reduction? by the way do you get a MB or CB guarantee? They can be somewhat worthwhile.

[EJK]

touch them up for a price reduction? by the way do you get a MB or CB guarantee? They can be somewhat worthwhile.

Will see what I can do. Funny thing is Christchurch council has provided code of compliance to the property which the inspector thinks it's not fire compliant. Does that mean it's not as bad as it seems? Was the inspector just very picky? Dunno.

What's a MB/ CB gurantee?

[ellipsis]

[B] picked up little shortcuts taken here and there and "tradie's Friday afternoon" works.





...the Gib, bracing 'system', is laughable, risible to be more honest...usually the inspector signing off would be terribly anal about the bracing schedule and wouldn't let anything other than what the specs say, go... sounds like the inspector was having a 'Friday moment', himself...

[jim.cox]

Will see what I can do. Funny thing is Christchurch council has provided code of compliance to the property which the inspector thinks it's not fire compliant. Does that mean it's not as bad as it seems?


It means the council certificate ( like most council documents ) isn't worth the paper its printed on. They are merely an arse-covering exercise for the building section

[EJK]

What would you guys do if you were me?

1. Who cares it's compliant. Just buy it.
2. Nego price down.
3. Ask the vendor to fix it.
4. Walk away.

Is the fire wall construction above mentioned like minor issues on bikes which you can live by? e.g. Awkwardly positioned handlebar mirror which shows your elbow a lot more than behind.

I know there are worse houses in NZ.

Am I thinking too much? Or is it something I should definitely be cautious of?

[Swoop]

"tradie's Friday afternoon" works.
Eh? Friday PM means being at the pub, so there is no chance of any work being done!



What's a MB/ CB gurantee?
Masterbuilders / Certified Builder's Guarantee.


If it's signed off as "compliant" (disgusting word that is over-used everywhere) that's a good start. Use the report for price haggling though.

[HenryDorsetCase]

It means the council certificate ( like most council documents ) isn't worth the paper its printed on. They are merely an arse-covering exercise for the building section

except if you end up in litigation with them. Then its great evidence and usually what hangs them :)

[HenryDorsetCase]

What would you guys do if you were me?

1. Who cares it's compliant. Just buy it.
2. Nego price down.
3. Ask the vendor to fix it.
4. Walk away.

Is the fire wall construction above mentioned like minor issues on bikes which you can live by? e.g. Awkwardly positioned handlebar mirror which shows your elbow a lot more than behind.

I know there are worse houses in NZ.

Am I thinking too much? Or is it something I should definitely be cautious of?

2 first then 1 then 3. As long as it has insurance who cares.

is the firewall the wall between the house and the garage (which is what it looks like) or is it an intertenancy wall between you and the meth lab in the next door flat? One is not great but not bad, one is very bad indeed.

[EJK]

2 first then 1 then 3. As long as it has insurance who cares.

is the firewall the wall between the house and the garage (which is what it looks like) or is it an intertenancy wall between you and the meth lab in the next door flat? One is not great but not bad, one is very bad indeed.

The house inspector said the area in question is in the roof space at the top of the wall between the two dwellings. So, near roof?

[jim.cox]

Firstly I would not be buying a joined unit - far too many potential problems - look at what has happened with such units in the case of the Chch quake and the leaky buildings fiasco - then think about maintenance issues like roofing and gutters and assume the mongrel mob next door aren't going to do any.

But if you must...

If its really is the firewall between you and the meth lab next door then 1 is not an option - it needs to be sorted properly

Find who signed off the certificate

Then take your evidence and discuss the matter with their boss

[sidecar bob]

What would you guys do if you were me?

1. Who cares it's compliant. Just buy it.
2. Nego price down.
3. Ask the vendor to fix it.
4. Walk away.

Is the fire wall construction above mentioned like minor issues on bikes which you can live by? e.g. Awkwardly positioned handlebar mirror which shows your elbow a lot more than behind.

I know there are worse houses in NZ.

Am I thinking too much? Or is it something I should definitely be cautious of?

There are enough good properties for sale that you don't need to buy a shitter.
I looked at several hundred before I bought my second to last investment one.
The decision to buy it was made within 7 minutes of stepping on to the property because it was the one.
Don't get tunnel vision, there will be others & you will consider yourself fortunate to have walked away from potential cans of worms.

[HenryDorsetCase]

The house inspector said the area in question is in the roof space at the top of the wall between the two dwellings. So, near roof?

Soooo if it is a multi unit dwelling then each unit is a fire cell. Fire cells must by definition contain a fire within them for a stipulated time. If the fire wall is faulty (by not extending up to (or indeed through) the roofline, then you have a real issue. In the context of your sale and purchase that is or may be a deal breaker. How many units joined up are there ? what are the OTHER unit firewalls like? Who was the fire engineer that signed it off? (council property file) How did it get code compliance? Assuming that really is an inter tenancy fire wall.

Potentially this is really imfuckingportant.

[EJK]

Soooo if it is a multi unit dwelling then each unit is a fire cell. Fire cells must by definition contain a fire within them for a stipulated time. If the fire wall is faulty (by not extending up to (or indeed through) the roofline, then you have a real issue. In the context of your sale and purchase that is or may be a deal breaker. How many units joined up are there ? what are the OTHER unit firewalls like? Who was the fire engineer that signed it off? (council property file) How did it get code compliance? Assuming that really is an inter tenancy fire wall.

Potentially this is really imfuckingportant.

Yes you have it right. It's a 2 level 6 units block. The report does not say about joints/ fitting issues. God knows what other unit's firewalls are like. The compliance was ticked off for the whole block (A to E) so I assume the firewall inspector guy from the council swung by during building process and ticked the boxes as he glimpsed. Again, issue identified was "not fully plastered". That alone doesn't really put me off tbh. Everything else including foundation, guttering, drainage, window sills, humidity checks, weatherproofing, roof etc passed with flying colors.

I'll get back to my lawyer and if it can be patched up under builder's warranty and re-nego price if I have to.

Unfortunately within my price range (both affordability and bank's pre-approval) I'm somewhat limited to "good to have" options.

Hey, at least it's better than Akzle's meth soaked caravan, right?

[Laava]

You could buy a bucket of pre mixed plaster, climb up in there with a trowel and slap that shit on the joins, job done, would take fuck all time and money. Climb back down, sit on the sofa, slap the missus on the arse, and she will bring you a beer. Welcome to D.I.Y. The job, not the missus!

[BMWST?]

depending on the actual gib system being used a joint that is "not fully plastered" may not actually compromise the fire wall.Some gib fire systems are two layers of gib.If its in the top layer and the joint is badly plattered rather than mot plastered at all then it may make no difference to the performance.In a roof space no one will see it so if it looks a bit rude .....so what

[Ocean1]

'Scuse me for stomping on your thread R650R......


And yes the chilly bin thing has been one of the worst things to happen to building initially. Now they have it under control but it is still pretty awful.

What's the received wisdom re this, then?

http://www.trademe.co.nz/Browse/Listing.aspx?id=1259833989

Blurb describes cladding as "several systems". One of which is confirmed as polystyrene. Presumably all the white stuff to start with.

Hasn't sold after a fair while on the market, which is a pretty good indication that it's overpriced. Apparently doesn't leak, but I'm pickin' it's value is more or less RV minus the cost of replacing all the foam?

[Laava]

'Scuse me for stomping on your thread R650R......



What's the received wisdom re this, then?

http://www.trademe.co.nz/Browse/Listing.aspx?id=1259833989

Blurb describes cladding as "several systems". One of which is confirmed as polystyrene. Presumably all the white stuff to start with.

Hasn't sold after a fair while on the market, which is a pretty good indication that it's overpriced. Apparently doesn't leak, but I'm pickin' it's value is more or less RV minus the cost of replacing all the foam?
Yep, that comes under the buyer beware label then. Didn't see the same blurb as you tho? Anyway in the room where there is a hideous curved step down, there looks to be a nasty stain on the carpet. Wonder what that is about?

[Ocean1]

Yep, that comes under the buyer beware label then. Didn't see the same blurb as you tho? Anyway in the room where there is a hideous curved step down, there looks to be a nasty stain on the carpet. Wonder what that is about?

Think it's just dirt/wear. It's been rented for at least six months and there's apparently a bit of scary deferred maintenance of some sort that's put prospective buyers off.

And yeah, there's more blurb on other sites.

PS: they're adamant it's never had a leak. I'm not aware if there's an inspection/report supporting that but the existence or otherwise of such would be a good indication...

PPS: what would you replace the foam with? Anything else that thick, (to suite the window/door reveal depth) is going to be heavier than the framing can handle innit? Or do you use 30mm battens and marine ply?

[Laava]

PPS: what would you replace the foam with? Anything else that thick, (to suite the window/door reveal depth) is going to be heavier than the framing can handle innit? Or do you use 30mm battens and marine ply?

I am a big fan of Shadowclad, but you need to buy the unprimed stuff and paint it with a stiff brush so you can really scrub in the undercoat and at first topcoat. Done properly it is very durable and modern looking. And yes, on a cavity. There are a number of composite aluminium cladding systems avail now, none of which I have used...I quite like Hebel for a monolithic finish, but it needs to be planned for rather than used as a reclad in general terms. I would love to get involved with a straw bale or rammed earth wall house but I think there is a good reason they are not mainstream. Mainly cos of how long it takes...

[Ocean1]

I am a big fan of Shadowclad, but you need to buy the unprimed stuff and paint it with a stiff brush so you can really scrub in the undercoat and at first topcoat. Done properly it is very durable and modern looking. And yes, on a cavity. There are a number of composite aluminium cladding systems avail now, none of which I have used...I quite like Hebel for a monolithic finish, but it needs to be planned for rather than used as a reclad in general terms. I would love to get involved with a straw bale or rammed earth wall house but I think there is a good reason they are not mainstream. Mainly cos of how long it takes...

There's one up the road. Short straw cafe: https: //www.facebook.com/ShortStrawCafe/ Toasty warm in winter.

Would worry me the same as styrene, though, if the waterproof skin is punctured you're in trouble, and you won't know about until it's fairly big trouble.

I used some bamboo fibre/recycled plastic decking for a low retaining wall a few years ago, is there a cladding equivalent? Any good?

[Laava]

There's one up the road. Short straw cafe: https: //www.facebook.com/ShortStrawCafe/ Toasty warm in winter.

Would worry me the same as styrene, though, if the waterproof skin is punctured you're in trouble, and you won't know about until it's fairly big trouble.

I used some bamboo fibre/recycled plastic decking for a low retaining wall a few years ago, is there a cladding equivalent? Any good?
Yep, a y monolithic has only the paint as a water barrier, so the substrate needs to be substantial. The only straw bale house I have seen in whangarei has a big wrap around verandah right the way round. It is a beautiful product done properly.
Not aware of any composite plastic wall claddings, plastic is liable to be very thermally sensitive. I had a house with Palliside weatherboards and when the sun hit it you could hear it creaking as it expanded.

[Ocean1]

Yep, a y monolithic has only the paint as a water barrier, so the substrate needs to be substantial. The only straw bale house I have seen in whangarei has a big wrap around verandah right the way round. It is a beautiful product done properly.
Not aware of any composite plastic wall claddings, plastic is liable to be very thermally sensitive. I had a house with Palliside weatherboards and when the sun hit it you could hear it creaking as it expanded.

Aye, you absolutely can't beat having a roof substantially bigger than the house for peace of mind.

I see Thermosash's blurb re ACP panels mentions fire rated versions: http://www.thermosash.co.nz/m_ACM.aspx

Presumably the very stuff that wasn't applied to all them tenements in Blighty.

[BMWST?]

Think it's just dirt/wear. It's been rented for at least six months and there's apparently a bit of scary deferred maintenance of some sort that's put prospective buyers off.

And yeah, there's more blurb on other sites.

PS: they're adamant it's never had a leak. I'm not aware if there's an inspection/report supporting that but the existence or otherwise of such would be a good indication...

PPS: what would you replace the foam with? Anything else that thick, (to suite the window/door reveal depth) is going to be heavier than the framing can handle innit? Or do you use 30mm battens and marine ply?

i would replace the foam with lightweight panels ,of which hebel is one.You can get non intrusuve moisture meters.They would show up any variations in moisture levels in the framing.We have had a bit of rain lately,probably a good time to do some moisture checks

[neels]

What's the received wisdom re this, then?

http://www.trademe.co.nz/Browse/Listing.aspx?id=1259833989

Blurb describes cladding as "several systems". One of which is confirmed as polystyrene. Presumably all the white stuff to start with.

Hasn't sold after a fair while on the market, which is a pretty good indication that it's overpriced. Apparently doesn't leak, but I'm pickin' it's value is more or less RV minus the cost of replacing all the foam?
My relatively worthless opinion, from looking at the pictures....

Looks like a house that grew, and judging by the joinery and fittings sits squarely in the worst era of the 90's, with lots of funky rooflines and balconies added in to create potential for leakage.

The poly could be replaced with hebel if the overhangs could be made to work from the upstairs cladding, windows are set into the walls so less issues than the hardies/plaster exteriors with windows plugged in from the outside that leaked like a sieve.

Best option would be a very thorough building inspection from someone who is familiar with the style of building, if it checks out you'll get a bargain because of the people who won't go past the pictures and assume it's a leaky house, much like the house I live in now that I picked up stupid cheap.

Short answer is that you need to spend some money to find out, and be willing to walk away if it's a nightmare, a lot of people aren't in a position to do that.

[Ocean1]

Thanks guys. It was all built to the original plans, I don't dislike it, it's fucking huge but with some minor tweaks it might work OK for my purposes.

I don't like the styrene, even if it's perfect and remains so that's most of the reason it hasn't sold, nobody will go near it, I don't want that problem if I ever came to sell it.

Will have a look later in the week, if it can be re-clad effectively and the price reflects the need to do so it may be a starter. Although I don't like the deck over the lower story, hate that shit.

[neels]

Thanks guys. It was all built to the original plans, I don't dislike it, it's fucking huge but with some minor tweaks it might work OK for my purposes.

I don't like the styrene, even if it's perfect and remains so that's most of the reason it hasn't sold, nobody will go near it, I don't want that problem if I ever came to sell it.
If there are no leakage issues that just means you are the guy who spends $10k to reclad to get rid of it when you need to sell, to keep the buyers happy. How many years would you get living in a house that everyone else was too scared to buy, and if you sell you assume anyone remembers by then, people are already forgetting earthquake issues and liquefaction in Christchurch and building/buying houses on TC3 land where there was 2 feet of silt to clear after 4 different earthquakes.


Although I don't like the deck over the lower story, hate that shit.
Have one of those myself, always a question mark and needs looking at, having said that if there was an issue I think it would have shown itself in the living room ceiling by now. There are many flat roof systems in the world, some are good and some are shit, once again a competent building inspector will know the difference.

How big is the garage? If the wellington people in my company weren't such knobs I'd look at moving and that would be right in my price range, and a glass or two looking over the sea of an evening would suit me perfectly. Where does transmission gully fit into the picture?

[Ocean1]

If there are no leakage issues that just means you are the guy who spends $10k to reclad to get rid of it when you need to sell, to keep the buyers happy.

Exactly. But $10k? I had a much higher cost in mind. Any other semi-qualified rough guesses?


Have one of those myself, always a question mark and needs looking at, having said that if there was an issue I think it would have shown itself in the living room ceiling by now. There are many flat roof systems in the world, some are good and some are shit, once again a competent building inspector will know the difference.

Aye, I've fibreglassed one such new deck in the past for a mate, large fillets, lots of csm and vinylester resin, but at least I managed to talk him into making the gutters external. But there's plenty of decks like that I didn't do, and can't know how carefully made they were. :laugh:


How big is the garage? If the wellington people in my company weren't such knobs I'd look at moving and that would be right in my price range, and a glass or two looking over the sea of an evening would suit me perfectly. Where does transmission gully fit into the picture?

Dunno, the garage door is only a single car width, but the blurb claims there's 4 car spaces.

Transmission gully passes a couple of K to the east, off to the right in that pic looking over the inlet. Would be a slight + for me because heading north up the coast has become ridiculous.

[jasonu]

What would you guys do if you were me?

1. Who cares it's compliant. Just buy it.
2. Nego price down.
3. Ask the vendor to fix it.
4. Walk away.

Is the fire wall construction above mentioned like minor issues on bikes which you can live by? e.g. Awkwardly positioned handlebar mirror which shows your elbow a lot more than behind.

I know there are worse houses in NZ.

Am I thinking too much? Or is it something I should definitely be cautious of?

If you really want it, jew them on the price or tell them to have it fixed by a proper tradesman and supply you the receipts.

[Big Dog]

Soooo if it is a multi unit dwelling then each unit is a fire cell. Fire cells must by definition contain a fire within them for a stipulated time. If the fire wall is faulty (by not extending up to (or indeed through) the roofline, then you have a real issue. In the context of your sale and purchase that is or may be a deal breaker. How many units joined up are there ? what are the OTHER unit firewalls like? Who was the fire engineer that signed it off? (council property file) How did it get code compliance? Assuming that really is an inter tenancy fire wall.

Potentially this is really imfuckingportant.Especially true when selling the property on at some point in the future.

[Ocean1]

Will have a look later in the week, if it can be re-clad effectively and the price reflects the need to do so it may be a starter.

Well there was no sign of it leaking atm, but it smells, and it's sure as fuck leaked before now. There's water staining all over the exposed Douglas fir framing under the clearlight in the garage, munted paneling under the internal gutter beyond that, the flooring in the mid-level had been replaced with ply at some stage, (except where the original weetbix was difficult to access) and there was evidence the flashing around the main living area skylights has been "repaired" in several areas. Also, the flashing to the styrene wasn't kosher, visible gaps and bits of some associated sheetmetal work had been removed and was lurking nearby. The soffit is some sort of T&G, originally polyurethaned, (:facepalm:) with the more easily reached bits since painted dull white over what was obviously zero preperation.

I took the son, who's job entails housing corp rentals repairs. Like me he wasn't worried about the big ticket issues if the price was right, even re-cladding some of it, but as he said there's just too many small problems that you'd be continually worried that you hadn't quite sorted.

Is it just me or is there a deal less maintenance being done for the average house across the board? I mean the only places you used to see in actual dire need of paint was semi abandoned villages out in the sticks, now almost every suburban street you walk down has examples Kiwis I grew up with would be ashamed of.

[ellipsis]

Is it just me or is there a deal less maintenance being done for the average house across the board? I mean the only places you used to see in actual dire need of paint was semi abandoned villages out in the sticks, now almost every suburban street you walk down has examples Kiwis I grew up with would be ashamed of.


...I think it's just dumb cunts who believe the spiel on the glossy pamphlets...the bits that say things like, 'new technology, 25 years guarantee, low maintenance'...and just pure lazy cunts who don't think past the point of where their next latte or holiday comes from...I refuse to even consider getting off the ladder onto a roof these days if I see the gutters full of organic matter that used to be leaves or full of moss...fuck 'em for being dumb and lazy...

[HenryDorsetCase]

...I think it's just dumb cunts who believe the spiel on the glossy pamphlets...the bits that say things like, 'new technology, 25 years guarantee, low maintenance'...and just pure lazy cunts who don't think past the point of where their next latte or holiday comes from...I refuse to even consider getting off the ladder onto a roof these days if I see the gutters full of organic matter that used to be leaves or full of moss...fuck 'em for being dumb and lazy...

really interesting point - a lot of the people I work with would not have the first clue about anything remotely approaching DIY. I'm the Erv Kanemoto of DIY - standing on a big heap of broken shit.

[EJK]

So uh yeah, as of today I've gone unconditional. Yeah it's not a fancy million dollar house on good land with architectural designed chateau but it ticks so many of my boxes and most importantly I can realistically afford it. I could borrow more but then I'd be having cuppa noodles for next 20 years. Plus it's brand new. I'll be the first one to print my ass on the toilet seat. Bank and my lawyer are going crazy with paperwork now and I settle in 10 working days.

Thanks everybody for info and help. Catch me out on an event or a bike ride and I'll buy you a drink (no joke) :sunny:

Thanks to Housing NZ so that a single broke-ass bloke like me can set foot into house ownership.

[HEsch]

Congrats! It's mind boggling (debt, commitment, yadayada) but equally exciting.

[EJK]

Congrats! It's mind boggling (debt, commitment, yadayada) but equally exciting.

Thanks! I know right... It's just the beginning :wacko:

[ellipsis]

...my son ,23, just bought a house...an old piece of broken shit that everyone else wanting a house badly, left off their list, for many reasons I would say...a bit of rot, couldn't check the piles, socio area, amongst other things I'd say also...it should be up to scratch in a year with a bit of his and my input...

...it seems that if it's old and fucked it's too much work/hassle/money... but I reckon that new and fucked is much more work/hassle/money...fuck fletchers, concrete products, bits of bent metal worth 20 cents being bagged up, given some bullshit certificate from a bunch of techno wanks owned by the arseholes making and selling the crap at $12.50 per bag and rorting the councils to make sure 100 bags are screwed onto every new house...

...I went into a builders merchant some while back and told the young chap behind the trade desk I needed some 25mm galv flat head 'clouts'...he looked at me with a strange look and asked me what they were...'a small galvanised nail with a flat head 25mm long', I explained...'Oh, you mean a product nail', he replied...'yeah, ok', I may have said or something a little more negative...

[jim.cox]

and I settle in 10 working days.

Thanks everybody for info and help. Catch me out on an event or a bike ride and I'll buy you a drink (no joke) :sunny:


So when's the house warming party?

[Ocean1]

So uh yeah, as of today I've gone unconditional.

Congrats, man.

Now make sure you've got "remove gutters and paint facias" on your calendar for August 2027, or ellipsis will be around to give you shit, you lazy bastard.

[Ocean1]

really interesting point - a lot of the people I work with would not have the first clue about anything remotely approaching DIY. I'm the Erv Kanemoto of DIY - standing on a big heap of broken shit.

On the other, other hand: I visited a place the other day with what had obviously been quite lovely matai flooring, which someone had utterly destroyed with a floor sander. Fucking divots and roller marks everywhere, and to add insult to injury he'd used a high gloss urethane finish. I couldn't live with that level of butchery, and I don't think there's a great deal you could do to fix it outside of carpeting it.

[ellipsis]

On the other, other hand: I visited a place the other day with what had obviously been quite lovely matai flooring, which someone had utterly destroyed with a floor sander. Fucking divots and roller marks everywhere, and to add insult to injury he'd used a high gloss urethane finish. I couldn't live with that level of butchery, and I don't think there's a great deal you could do to fix it outside of carpeting it.

...have you been in my kitchen?...when?...

[EJK]

Congrats, man.

Now make sure you've got "remove gutters and paint facias" on your calendar for August 2027, or ellipsis will be around to give you shit, you lazy bastard.

Haha thanks. There are people who has knowledge and skills to do all the maintenance on their bikes, and rest who pays the shop to do it. I'm more of the latter. Oh yeah, I used to own a BMW so that says enough.

[HEsch]

Thanks! I know right... It's just the beginning :wacko:

Just you wait until you have to start doing things... I needed a plumber to sort out slightly shoddy drains/pipes and utterly shite hot water pressure (how the previous owners put up with it, I don't know). Next up is insulation (underfloor only, Lockwoods have solid walls and no ceiling cavity), and some severe (ground-level) tree work.
Then I suppose I better get onto painting the outside, waterblasting the decks and steps, clearing out the gutters, and re-doing the bathroom/toilet/laundry.

[Honest Andy]

Just you wait until you have to start doing things... I needed a plumber to sort out slightly shoddy drains/pipes and utterly shite hot water pressure (how the previous owners put up with it, I don't know). Next up is insulation (underfloor only, Lockwoods have solid walls and no ceiling cavity), and some severe (ground-level) tree work.
Then I suppose I better get onto painting the outside, waterblasting the decks and steps, clearing out the gutters, and re-doing the bathroom/toilet/laundry.

Yeah all of that, but remember that all the work you do on your own place is just for you. You can get a lot of satisfaction out of that :niceone:

[EJK]

Quick question: Why do sellers hold onto listing property until election? How does election influence property sales?

[HEsch]

Depending on whether the govt. changes (or not), and the proposed policies/changes they may bring in, the market conditions may change. EG a capital gains tax being brought in would make a large dent in a seller's potential profit. (not that this explains why they would hold on until after the election...). Or changes to lending restrictions on, say, first home buyers or investors, or changes to tax rates - may influence the amounts people can reasonably save and borrow.

[neels]

Quick question: Why do sellers hold onto listing property until election? How does election influence property sales?
The usual human reaction of fear they may make the wrong decision and lose.

Depends if you're just selling, or selling and buying, change of government or coalition makeup can affect both ends of the transaction, potentially a problem if you're not doing both at exactly the same time. If you consider what's been discussed lately that may or may not happen, and could sting you if you're holding the baby at the wrong time;

Loan/income ratio limits
Further changes to LVR rules
Asset taxes
Property transaction taxes
Overseas investment rules
Property investment disincentives
Capital gains taxes
School zoning changes
..........

[Ocean1]

Haha thanks. There are people who has knowledge and skills to do all the maintenance on their bikes, and rest who pays the shop to do it. I'm more of the latter. Oh yeah, I used to own a BMW so that says enough.

You're excused from maintaining a BMW, nowadays the technology is beyond most amateurs.

You're not excused from painting your house. There's almost no skill required, certainly none you can't acquire from youchoob and the local hardware shop. It's just hard work. So unless you want to hand in Ye Olde Kiwi Manhood card break out the turps and get fucking painting.

You lazy bastard.

[Swoop]

Quick question: Why do sellers hold onto listing property until election? How does election influence property sales?
Basic fear.

Uncertainty of the red peril getting in and taxing the crap out of everyone, which is their normal default setting.



... break out the turps and get fucking painting.
Fuck that shit. Enamacryl is your bestest friend ever!

[HenryDorsetCase]

On the other, other hand: I visited a place the other day with what had obviously been quite lovely matai flooring, which someone had utterly destroyed with a floor sander. Fucking divots and roller marks everywhere, and to add insult to injury he'd used a high gloss urethane finish. I couldn't live with that level of butchery, and I don't think there's a great deal you could do to fix it outside of carpeting it.

Theres a real knack to using a floor sander, one I found out very quickly I didnt have. I did have a go, realised I was fucking my nice Rimu floor, and got someone in to do it properly. Then we decided to take out the fireplace and the wall so after I'd done that (that was fun, if dirty) and repaired the floor I got them back to do that entire end of the house. Satin finish yo!

If its down to the tongue its probably fucked but they are 1/4 inch down so theres a bit of material to play with.

[HenryDorsetCase]

Basic fear.

Uncertainty of the red peril getting in and taxing the crap out of everyone, which is their normal default setting.



Fuck that shit. Enamacryl is your bestest friend ever!

Uh, except it was the Nazis that introduced this UTTER fucker that is a capital gains tax by stealth (its called "Residential Land Witholding Tax").

Guess what? it doesnt fucking work. I am on the verge of an OIA request to find out the admin costs vs the revenue collected.

[Ocean1]

Theres a real knack to using a floor sander, one I found out very quickly I didnt have. I did have a go, realised I was fucking my nice Rimu floor, and got someone in to do it properly. Then we decided to take out the fireplace and the wall so after I'd done that (that was fun, if dirty) and repaired the floor I got them back to do that entire end of the house. Satin finish yo!

If its down to the tongue its probably fucked but they are 1/4 inch down so theres a bit of material to play with.

There is certainly a skill involved. I don't have it either. But I recognise the required tenets: at every decision point, (often mere seconds apart) there's an easy way to proceed and a difficult way. Take the difficult way.

And I say this from the perspective of one with a tolerably esoteric but reasonably advanced set of skills, amateurs ALWAYS take ill advised shortcuts.

[Ocean1]

Uh, except it was the Nazis that introduced this UTTER fucker that is a capital gains tax by stealth (its called "Residential Land Witholding Tax").

Guess what? it doesnt fucking work. I am on the verge of an OIA request to find out the admin costs vs the revenue collected.

Nice idea, but have you noticed how much damage the lack of such detail did to Labour's water tax proposal?

When it comes to someone else's money, (as in not in my pocket) there seems to be a complete disconnect between how it was created, (and by whom) and whether they deserve to keep it.

Basically, the left see only a disparity in outcomes and seek to balance that, and the right see only the process of creating wealth itself and seek to maintain the behavior that causes it.

Ancillary query: which types of money flows or pools do the government have an ethical right to access, (tax) and for what purpose?

[R650R]

Just you wait until you have to start doing things... I needed a plumber to sort out slightly shoddy drains/pipes and utterly shite hot water pressure (how the previous owners put up with it, I don't know). Next up is insulation (underfloor only, Lockwoods have solid walls and no ceiling cavity), and some severe (ground-level) tree work.
Then I suppose I better get onto painting the outside, waterblasting the decks and steps, clearing out the gutters, and re-doing the bathroom/toilet/laundry.

Yep all the little things add up. Got a sparky mate helping me redo some stuff. Some previous feral cretin installed the heatpump on same circuit as bedroom power points and the gas hot water califont. Luckily I found this out while having a high current fan heater and heat pump at same time while painting on cold day and not whilst having a shower.

Speaking of floor sanding I passed on that too. Ripped up some huckerry lino in laundry that had been water damaged at some stage. Floor ok but not perfectly flat. Its going to be mostly covered by washinbg machine and dirty laundry anyway so just patched over with some vinyl offcuts from a family members place. Came out good first time I ever done it. Measure twice cut once, about 6/10 on difficulty level....

[HenryDorsetCase]

Ancillary query: which types of money flows or pools do the government have an ethical right to access, (tax) and for what purpose?

Well. theres a can o'worms (TM)

The Nazis would say "everyone but the farmers"

Labour would say "everyone"

But "ethical" rights to access? That's the point of a democracy innit? I read a very interesting piece over the weekend about why we should be taxing every profit everywhere. Including the sale of the family home (which even the Nazis havent touched with their stupid capital gains tax by stealth).

[Ocean1]

Well. theres a can o'worms (TM)

The Nazis would say "everyone but the farmers"

Labour would say "everyone"

But "ethical" rights to access? That's the point of a democracy innit? I read a very interesting piece over the weekend about why we should be taxing every profit everywhere. Including the sale of the family home (which even the Nazis havent touched with their stupid capital gains tax by stealth).

Point or otherwise the effect of our particular democracy is to tax by consensus. Nothing about that infers ethical behaviour. It's simply an exercise in which group gets to steal which other group's income in order to give it to which other group. In fact the ethics aren't all that difficult to establish via the catch-all: is the tax willingly paid?

The answer is almost always: "depends on what you're spending it on". Which is why it's interesting to see public focus almost exclusively on the personalities involved, rather than the policy.

I, along with most Nazis have no problem with taxing profit, it's vaguely aligned with the cost of supplying the tools that make it possible. And, (bonus point, but irrelevant) roughly matches the ability to pay it. Neither of which make it ethical, but it's rather a lot less larcenous than the "see money: tax money" approach offered elsewhere.

I don't have a problem with Labour's "everyone", either. Even at a level endured by most Scandinavial economies. As long as the benefits are shared across the board as those countries mostly manage them, none of this working for someone else's family bullshit. Getting taxed to buggery AND not being eligible for cheap access to the very services those taxes pay for is what I believe is called "double dipping".

I'm not up on the stealthy CG thing, who are they suggesting is going to calculate what represents "profit" wrt moneys resulting from sale of homes? 'Cause answers along the lines of : "this special govt entity right here" will result in absolute pandemonium.

[Ocean1]

Speaking of which: https://www.stuff.co.nz/national/politics/95973348/gareth-morgan-compares-jacinda-ardern-as-lipstick-on-a-pig

:laugh:

[James Deuce]

Speaking of which: https://www.stuff.co.nz/national/politics/95973348/gareth-morgan-compares-jacinda-ardern-as-lipstick-on-a-pig

:laugh:
He's right. JacindaLabour is still the same bunch of people wanting to sell sovereignty for a "free" trade deal that benefits only one party which isn't NZ. They've also deployed a confusing mishmash of policy that just means that the remnants of the middle class will be consigned to the renting working class in fairly short order.

[Voltaire]

Gareth is jealous as for eye appeal he needs more than lipstick.:laugh:

Aren't elections now fought in TV sound bites and internet gossip?

[EJK]

Aren't elections now fought in TV sound bites and internet gossip?

A fat German dude tried that a few years ago. Didn't quite work out.

[Ocean1]

He's right. JacindaLabour is still the same bunch of people wanting to sell sovereignty for a "free" trade deal that benefits only one party which isn't NZ. They've also deployed a confusing mishmash of policy that just means that the remnants of the middle class will be consigned to the renting working class in fairly short order.

I think he was mis-quoted, too, don't think it was aimed personally at Jacinda.

Not that there's any shortage of targets, even if you agree with all of Labour's policies: the ex head of the International Socialist Youth Movement, someone who has never held a job outside of parliament, (let alone one requiring the sort of production actual customers willingly pay for), simply hasn't got the experience and real world knowledge to be anywhere near parliament.

I don't actually dislike her, (outside of the tendency to call literally everyone "comrade"), but from a policy perspective she doesn't actually represent any improvement over Angrew, or the previous month's version, it's just the same old union agendas, not even lightly rehashed.

[bogan]

I think he was mis-quoted, too, don't think it was aimed personally at Jacinda.

So he wants to murder all cats and bring back animal testing for cosmetics? :laugh:

I completely agree with his point though, there doesn't seem to have been any real change apart from her (thus labour itself) becoming the media darling.

[James Deuce]

So he wants to murder all cats and bring back animal testing for cosmetics? :laugh:

I completely agree with his point though, there doesn't seem to have been any real change apart from her (thus labour itself) becoming the media darling.

No, he wants to use politicians for cosmetics testing.