We’ve been watching the housing market for the last couple of years and we’ve been seriously looking for houses for about 6 or so months. Between the changes on loans imposed by the Reserve Bank, the crazy Auckland house market and the general state of the economy there has certainly been a lot of ups and downs in this process.
We were originally looking at older houses that needed a lot of DIY love – we liked this idea as we would be able to inject our personality into our home and it seemed like we would save a lot of money. As the months went by the housing market got harder – houses became more expensive and there were less and less available. Even the fixer-uppers were proving to be too expensive.
About 6 weeks ago we stumbled across a house and land package on trademe that seemed too good to be true. It was in our budget, a good size and a design we loved! Naturally, I enquired about it straight away! Long story short – the New Zealand government and the Auckland Council along with a number of not-for-profit agencies have joined forces to develop affordable housing areas – the houses are available to first home buyers and need to be below a particular price. Surprisingly the houses are the same price (or cheaper) than a lot of the older houses we were looking at which would also need a lot of money put into them. As it’s a house and land package the house isn’t actually built yet – we hope to be in before Christmas time – but we went unconditional on Tuesday so we’re really excited right now!
I was thinking over the next several months I will share bits from the whole house-buying process and hopefully you’ll find it interesting or helpful in someway. If there’s any particular area you’d like to hear about then please let me know.
If anyone has bought or built a home I would love to hear your story! This is such a big milestone for us we’re wanting to hear everybody’s advice.