House too small now?

House too small now?

When is the right time to upsize?

Wondering if you need to upsize as your toddlers suddenly become”tweens”?

Or perhaps it is when they start to bring their friends home as teenagers?

It is good knowing where they are and if they feel that they can entertain friends at home surely that is something we all would like as caring parents?

Knowing where our teenagers are they are is important these days.

Today, there are a lot of multigenerational households frequently consisting of grandparents, married couples and children, and often they will include parents and their adult children, ranging from their late teens to early thirties.

But no matter how many occupants in your home,  the question “Should I buy a bigger house?”  has crossed your mind at one time or another.

Making the decision

Reaching a decision on this isn’t always easy, especially in the ever-changing residential real estate environment with multiple market forces at work, like supply and demand factors.

With that in mind, here are a few ways to help you decide if upsizing is the right move for you:

  • Do you have to take showers in shifts, or does a teenager takes too long in the bathroom and it causes an argument?
  • Is your charming little garden now too small for the family and their many pets and hobbies?
  • Does it feel like your home looks like a constant mess with piles of laundry everywhere, sporting equipment, school books , etc?
  • Are you constantly struggling to organise the contents of your house?
  • Do you dread having guests to stay because it is a juggling act finding a spare bed, with lots of negotiating when one of the children has to bunk down on the couch so grandparents can have their beds.
  • Are you longing for an extra lounge, one where you can have some “me time”?
  • Do you need an extra room that the kids can have as their own rumpus room?
  • Is it no longer nice to come home to a cramped and messy home because it is too small for your growing family?

Beginning the search

When upsizing, make sure that you look for a house with designated areas, like a second living room and loads of storage.

If you find a two storey, remember that if you have teenagers, whilst it is nice for them to have their own space, put them upstairs rather than downstairs  – that way you can be reassured that if they sneak out at night as teens through the ages have been known to do, you will wake up.

Location is important too

Bus and train routes need to be considered as well as education facilities. You don’t want to turn into the main unpaid taxi driver till they get their own cars.

Do your budget wisely, taking into account anything that you think you will need to spend moving forward.

Remember your utility bills will be higher than those in your previous home. Maintenance costs may also be elevated.

These are factors to consider when assessing the financial viability of upsizing your home.

If you are unsure about how to go about things then use a Buyers Advocate to help you navigate the way.

 

 

©2022 gentlelifehacks.com|e-propertymatters.com| Author| Kathryn

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When is the right time to sell?

When is the right time to sell?

For many years, it is fair to say that Real Estate agents have been operating in a “sellers market”.

Post “Covid-19”, what will the Real Estate market look like?

There have been many thoughts on this. One thing is for sure though- it will be a different world once we have the virus under control.

A seller’s market or a buyer’s market?

In a “seller’s market” our sellers have been rewarded with many buyers. These buyers compete against each other in a tight market with an “undersupply” of property. This has pushed prices up.

Salespeople who have worked in many markets, know by experience that the changing markets create different opportunities- one could say for a salesperson, it could be a “feast or a famine”.

The market that I began my career in was a “buyers market”.

I enjoyed getting a buyer in my car, after qualifying them, and showing them at least 6 properties on one appointment. I would do this several times a day with several buyers.

Working buyers meant that you would have to know the company housing stock very well, and be able to quote and show the features and benefits of each house.

We would have hundreds of listings on our Company’s books and show buyers a good selection in the same price range of the advertisement that they had responded to.

It was hard work, but very rewarding.

The experience meant that your buyers eventually became your sellers, that is, if you had done your job right, and you had used the time to build a relationship with them, while finding them a home.

Some salespeople prefer doing open homes to single appointments, which are time consuming in a busy market.

Personally, I have always liked the “one on one” appointment approach, as after all, it is a big buying decision for anybody and it should be treated with respect.

Buyer’s markets are more time consuming for a salesperson.

Buyer’s are able to be fussy, so by being able to establish a rapport and understand their buying decision, a salesperson is able to provide better service to both buyer and inevitably to the seller as well, in not wasting anybody’s time.

If you are able to qualify your buyer and understand their likes and dislikes, you will be able to provide a better service to them and give better feedback to the seller.

This is very important so that the seller can “meet the market that they are selling in”  which often reduces their time on the market, and the risk of selling for less after many months of disappointment.

Buyers who spend a huge amount of money are being asked to spend very little time inspecting a property at an open home with dozens of others, giving them very little time to make an informed decision.

The seller’s market

Sadly, buyers do miss out in a seller’s market as the supply and demand factor becomes very relevant. Properties will turn over quickly to those who are fortunate enough to be cashed up.

Those who need to sell before buying often miss out unless they take bridging finance which can be expensive.

Now in a buyer’s market, things become very different. Buyers will be the ones who will be nurtured by salespeople.

Post Covid

For now though, it could be a matter of months before the real effect on the market will be felt after Covid-19 in many countries.

We know that prices have increased dramatically in some countries since 2020, which economists could not predict. Could prices fall as fast?

recent report estimates approximately 60 per cent of home loans will need to be refinanced in the next year and for many borrowers, that will mean their interest rates doubling, according to Core logic

Governments will need to come to terms with the fact that many businesses will fail having been in lock down for extended times.

Or it could cause the FOMO affect again– “Fear of missing out” and buyers could be bidding against each other with limited supply, driving the prices up further.

Many people with home loans will have secured a repayment holiday, and that effect will not show through for a few months. It will be a “wait and see” for most I suspect.

But perhaps moving forward “viewing by appointment” and not mass inspections through open homes might become the new norm. It would not be a bad thing would it?

Buyers would be treated with respect and sellers would benefit from the feedback of the true value of their property in the market that they are buying and selling in.

 

©2022 gentlelifehacks.com|e-propertymatters.com| Author| Kathryn

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10 warning signs to look out for when buying a house

10 warning signs to look out for when buying a house

Renovating is not always easy.

Even the the tasks that look like they could be simple can turn out to me a mission to finish!

Have you ever found a few cracked tiles in the kitchen and thought about replacing them?

It is okay if you have spare matching tiles, but what do you do if those tiles that were available back in the 1980’s are no longer available?

These are often the things that we don’t think of when we are high on the thrill of having bought our first new home.

That original “eighties” home that everybody seemed to want, judging by the numbers attending the open house, now seems to be a great big money pit waiting to be topped up!

Save money you think and do the labour yourself?

Grinding away the existing “well cemented in” tiles and replacing them with newer ones is not as easy at is looks.

10 things to look out for when buying a home

There are a few things to check other than the council records and building permits before deciding on a home. It is customary these days to also pay for a professional building inspection, but there are things that you can look out for as well.

1. Check for broken floor tiles

Take a photo of the floor tile and show it to your tile supplier. If it is still in stock, then no problem; you can replace the broken ones easily. But if it is no longer available then get a quote to replace the floor tiles.

2. Check for water leaks in bathrooms

In homes built with a wooden floor truss system, the sub floor is most likely made of plywood, which is subjected to moisture. If the sub floor is rotting it will feel soft or spongy in places, causing things like the toilet to feel unstable when you sit down on it.

3. Check the water pressure

You might think that if the kitchen and bathroom sinks are all working and have running water, that the plumbing is probably good, right? Think again!

You should test them and make sure that the toilets flush without gurgling, as if they do, then you could have septic tank issues. Taps should emit hot and cold water freely.

Check for water pressure and dripping taps. A lack of water pressure can be a sign of more serious plumbing issues lingering beneath the surface, which could lead to expensive repairs.

4. Check for mould or dampness on walls and floors

Any sort of musty smell could also indicate a long-term leak that needs attention. Warped floors, water damaged walls and ceilings and plumbing repairs can be a renovation nightmare.

5. Crooked or warped walls

When drywall absorbs water, it begins to swell and become soft. Over time, the damaged area starts to crumble, especially around the baseboards. Run your hands across the walls in each of the rooms, feeling for uneven or a crooked surface when you look at it.

6. Check any quaint vintage installation

If you find cracked waste stacks, old brass plumbing, dux quest, or remnants of knob-and-tube electrical, then get it checked out.

If you find ceiling stains from prior water saturation, oil stains from leaking tanks, asbestos pipe-wrap and mortar dust around the perimeter, this is quite common in old homes, and should be checked out.

7. Check for Asbestos or lead paint

Sometimes hazardous elements aren’t so easy to spot. These days removing asbestos in an old building can be expensive. If you are considering a home built before 1978, the presence of lead paint is also an important health issue to consider.

8. Check doors and windows for opening and shutting

As structures shift and settle over time, insulation, caulking and other protective materials slowly lose their protective powers. A house full of warped windows comes with a fairly expensive replacement cost. If a door won’t close then there could be other issues.

9. Are there any suspicious burning smells?

An electrical burning odour could indicate overheated or frayed electrical wiring. Other odours like a gunpowder-like aroma could be from a fried circuit board or motor fan.

Pungent smells from the air conditioning vents generally signal the air conditioner wire insulation is not functioning correctly. It would be prudent to get a qualified electrician to inspect before purchasing the property.

10. Check the outdoor perimeter for roots that have broken through the ground

If the home is situated near large trees, then check for roots that are pushing up any structures.

Sometimes roots can damage storm water or drainage pipes which is an expensive exercise to replace.

©2021 e-propertymatters.com|women-in-realestate.com|gentlelifehacks.com| Author| Kathryn

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The Bad Landlord

The Bad Landlord

What price should we put on good health?

Am I right in thinking that if you are renting a property, and paying good money each week for the privilege one would expect to live in a healthy home?

Landlords have been put on notice after the landlords of a damp, mould ridden home were penalised and fined over $38 000 recently.

Rheumatic heart disease has now been linked to unhealthy damp and mouldy conditions found in some rental properties.

In fact, a recent case found that a child’s diagnosis was linked to the almost uninhabitable living conditions of dampness and mould in their rented home.

The poor child was diagnosed with Rheumatic heart disease and now faces monthly painful antibiotic injections for many years, and the fear of major heart surgery and even early death.

What the law says

There are laws put in place to ensure that rental properties meet healthy living standards.

So there is no excuse for not meeting the requirements, especially if you have been renting the property out in these times of under supply of rental properties.

Most landlords do very nicely when rentals are in short supply, and tenants have no choice but to stay and continue to pay for substandard accomodation.

Read more here

The NZ Healthy Homes Standard

In New Zealand,  from 1 July 2021 private landlords must ensure that their rental properties comply with the Healthy Home Standards within 90 days of any new tenancy.

Risks associated with cold, damp and mouldy homes

  • Asthma
  • Rheumatic fever
  • Pneumonia
  • Chronic respiratory conditions
  • Bronchiectasis
  • Cardiovascular disease
  • Allergies and fungal infections

If you are renting in New Zealand, The healthy homes standards  introduce specific and minimum standards for heating, insulation, ventilation, moisture and drainage, and draught stopping in rental properties.

Read more here

When I was a landlord, I know that I always slept well at night knowing that I was not contributing to any tenant’s ill health. I took pride in keeping the rental property in a condition that was good to live in.

By doing so, it also protected my financial interests, as it was after all an investment.

So it is a good thing that Landlords who unwittingly become slum landlords get taken to task and fined.

It could just be the wake call they need to start doing the right thing by their tenants.

 

©2021 gentlelifehacks.com|e-propertymatters.com| women-in-realestate.com | Author| Kathryn

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Crazy world house prices

Crazy world house prices

Buying a home is not for the faint hearted in today’s market

During the Covid-19 pandemic there has been much said about the shocking increase in property prices around the world.

Take Brisbane, Australia for instance- the median house price in September 21 has hit a record of $702,455 and Sydney house prices have equated to approximately 30.4% of annual growth – the highest on record reaching $1,499,126

Read more here

In New Zealand, the average national house price hit $937 000 (according to Core Logic -a property analytics data company) and the Real Estate Institute of NZ shows there has been a 15.4 % increase in house prices to Sept 2021 ($795 000 compared with $689 000 in Sept 2020)

Read more statistics here

Distressed buyers

Many buyers seeking to get into the property market are naturally distressed at the high prices.

Properties that were advertised only a few years ago for $350 000 are now getting double that. Read more here

While some homeowners are rubbing their hands in delight with the increase in their home values, it certainly pays to be cautious, because if you sell your home for the profit, and decide to rent while you look around, you might be sadly worse off.

Prices rise and fall as per the supply and demand factors of the market.

Ultimately if you buy and sell in the same market, you gain on one but pay on the other so it evens out.

FOMO (The fear of missing out refers to the feeling or perception that others are having more fun, living better lives, or experiencing better things than you are)

While it would be wise to not buy in a hurry or with FOMO as a driving force, many of us are ignoring this due to lots more factors that drive the housing market.

Employment opportunities within countries that are suffering labour shortages due to rolling lockdowns and border closures also play a role in the housing market.

Low interest rates while they have helped many get into the property market, might yet prove to be a double edged sword when those interest rates start to rise.

The people who have over extended themselves are then forced to sell.

Property prices then come down as homes flood the market.

Let’s hope that this does not happen, because logically, you would think the housing market cannot continue rising at the rate that it has during the pandemic.

“You cannot logic your way through emotion” and people need a roof over their heads, so it might get to be a really expensive roof in years to come!

©2021 e-propertymatters.com|women-in-realestate.com|gentlelifehacks.com|Author|Kathryn

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Tips for a healthier home

Tips for a healthier home

Keeping your home healthy is an ongoing process

Sometimes we ignore the smaller issues that then become the bigger issues that cause us pain when we get sick or have to pay for extensive remedial work to alleviate further issues.

Climate Change is a very real problem even though there are many out there who think it will go away by ignoring it.

Floods, earthquakes, firestorms – they are happening more frequently around the world, and since the onset of the Covid-19 pandemic started we certainly don’t need anymore challenging events.

10 tips to keep a home environment healthy

  1. Keep your home dry and reduce the chances of any health related issues
  2. Insulation in the walls, ceiling and floor space is important – there are many schemes where Government will help. Read more here
  3. Windows – insulate through double layer curtains, or double glaze (if you can afford) There are many products that reduce heat loss through glazing these days Read more here
  4. Make sure you have good moisture extraction in kitchens and bathrooms. A simple test to see if an extraction fan has a good suction is to hold an A4 piece of paper to it and if it can hold it easily then it seems okay. Keep pot lids on to reduce moisture evaporating into the air while cooking.
  5. Vent your clothes  drier to the outside. A dryer can evaporate anywhere from 2.5 litres of moisture into the air per load.
  6. Let the sun shine in by trimming back trees and vegetation close to your windows, and clean out your gutters so water is not trapped by excess leaves and debris.
  7. Ventilate your home for at least 30 minutes each day. It takes less energy to heat up cold dry air than to heat up warm damp air.
  8. Install a Ground Vapour Barrier. If you have more than 50 % of exposed soil underneath your house, you can install a ground vapour barrier. For every 1m2 of exposed soil, 400ml of moisture is evaporated in a 24 hr period. 100m2 of exposed soil can evaporate 40L of moisture per day into the air. Read more here 
  9. Monitor the air quality in your home. A Hygrometer measures the moisture content in the air relative to its absolute maximum capacity at a given temperature. Read more here  
  10. Make sure no water is pooled at your foundation and collecting in your crawl space- It can lead to structural and health issues if left neglected.  A good storm water system is required for that extra run off and pooling. Examples here

“Nothing is impossible- the word itself says “I’m possible!”

©2021 e-propertymatters.com|women-in-realestate.com|gentlelifehacks.com|Author|KC

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Mokopuna

A drawing by Maddie ( age 11)

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