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Focus key to buying before recovery in full swing

 

Upgrading your property, or plunging into the market for the first time, requires some strategic thinking at the moment.

Shelving your property ambitions right now, and putting them to the back of your mind, will not help you capitalise on the current opportunities.

While New Zealand is technically in a recession (we’ve had consecutive quarters of negative growth, albeit 0.7% and 0.1%), we believe this is the wrong time to shrink into your shell.

Why? This recession is pandemic-made, powered by rising prices due to many factors, including supply chain and employment issues that put many goods and services in short supply. 

That created inflation, and the Reserve Bank of NZ responded as all central banks do, ramping rates and cooling the economy to crush inflation.

During this process, we’ve seen real estate prices taper down, resulting in many owners deciding not to sell and reducing the number of homes for sale.

We’ve also witnessed strong employment numbers in New Zealand. If workers are confident about their job situation, they’re equally optimistic about their ability to buy property.

These factors are likely to lead us to a full-scale market recovery. And when it arrives, watch out. Sentiment can change overnight, and prices will likely increase before most buyers can react.

These suggestions will help you respond quickly when you find the next home of your dreams. 

Determine your budget

Nothing is more important. Consider factors such as your income, savings, monthly expenses and the interest rate on a suitable loan.

Keep saving

Having a downpayment or collateral doesn’t mean you should stop trying to save. The more cash you have, the less debt you’ll carry or the more you can afford to borrow.

Loan deals

Continue to monitor the best loan deals. The most suitable are not always the cheapest. Most importantly, get pre-approval before starting your home-hunt. Don’t find the perfect home and then rush a pre-approved loan. That’s when costly mistakes are made.

The wishlist

Make your property search efficient by listing your must-have and nice-to-have features. This way, you’ll rule out properties that don’t meet your criteria.

Keep researching

Talk to agents about the market and monitor price trends. Ideally, you want to beat the rebound.

Let’s discuss your home selling strategy.

By choosing us, you’ll benefit from our expertise and commitment, ensuring you feel confident and valued throughout the entire process.

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Jo Mcgeachin

Ben was extremely easy to talk to and very informative about how things would progress. He listened to us and advised us about the right way to go. We are very happy with his pleasant and professional manner.

Jason Pepping

Ben is a very personable agent. He has excellent communication and was usually available to answer any questions we had, regardless of the hour!

Yasas Gamage

Ben, Peter and Jade. You guys are the most awesome Real Estate Agents we have ever met. We went to hundreds of open homes and met many agents throughout our search for a home, yet we would come back to you straight away for our next house. Thank you!

Carla Shields

Ben and the team did an amazing job selling our house. They know the market so well and gave us the best advice throughout the whole process. We have used them before and so glad we choose to use them again. Highly recommended.

Jaan Turia

Ben worked exceptionally hard on our behalf to get the sale over the line. Ours was not straightforward by any means, and Ben navigated through the many twists and turns to ensure a very satisfactory outcome for us. We highly recommend Ben. 🙂

Alex Hewton – Malins

This is the second time we have sold with Ben and both times the result has been outstanding. On a personal level we click and its clear he actually cares about both the sellers and the buyers he is working with. The result we achieved and the sheer quantity of offers received in a dead market shows what an outstanding salesman and marketer Ben (and is his team) is.

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