After you think about the area you want to live in you need to decide what type of home you want to live in. Sometimes this can change the area you will need to look in so you need to get this step sorted out relatively early so that you can get it right so that you are not left at the drawing board for too long. Here are some of the things you have to ask yourself and think about when trying to decide what type of home you want to live in.
Would you prefer an older home?
An older home can provide character in an established setting. Rooms are often large with decorative details. But don’t get carried away with the character and forget to think about the work and money that might be needed.
Here are a few things to consider
• older homes can be hard to heat – they often have no insulation
• the layout may not suit modern living – often the living rooms are at the front, away from the kitchen and private garden
• it can be hard to know what’s ‘behind’ the walls, so alterations can be expensive – builders may want to work for an hourly rate instead of giving a firm price
• the age may mean wiring, roofing, piles and plumbing need replacing
• sometimes even if you want to make small changes you’ll end up having to do other work to get consent
• some renovations need special care – asbestos products were used until about 35 years ago, and some paints contained lead until about 15 years ago.
Check everything carefully, get expert advice first, compare as many homes as you can – and ideally find one where the major work has been done for you.
Do you want a new home?
New homes are generally well insulated, need little maintenance and have modern kitchens and bathrooms. But you may have the extra costs of landscaping, buying curtains and carpets, and commuting. A new subdivision can take a while to start to look established. If you’re keen to build, read the section on building and renovating later
Do you want an apartment?
Living in the city is popular and an apartment can be the ideal first home or retirement unit. An apartment can provide convenience, security and less maintenance, and make it more affordable to live in a good location.
On the other hand, a small two bedroom apartment with no parking or outdoor space in town can sometimes cost more than a three bedroom home further out. And not all apartments are good investments.
Apartments in older converted buildings can be a problem and make finance and insurance harder to get. Why? Because older buildings may need expensive maintenance, and many earlier conversions were poorly done by people out to make quick money.
There can also be problems with newer apartments, for example with building quality or sound proofing. And in some areas the large number of smaller, poorer quality apartments built has affected prices.
In general it’s not a good idea to buy ‘off the plans’ in a new complex where you have no proof of the finished quality. Some owners spend years getting problems sorted out.
Many people say they love apartment living and it’s one of the best moves they’ve made. But there can be pitfalls so it’s important to do your research and get good advice first. Here are a few tips to get you started
• talk to your local authority and ask them if they know of any problems – they do all the consents and inspections
• get advice from an independent valuer with experience of apartments in the area you’re looking – don’t rely on a developer’s valuation
• choose buildings by local architects, builders and developers with a good track record
• be wary of buildings where apartments often come up for sale – there may be problems with the building or the body corporate.
When you’re looking ask
• is there enough space to suit your lifestyle and belongings?
• does the home have the features you want? Use our checklist over the page
• does it have storage and parking? Can you get in and out of the park easily?
• does it have good safety and fire prevention features?
• will noises and smells from the area bother you? Visit at different times to make sure
• what happens to the rubbish? Check it’s not stored near your unit
• can you hear the neighbours? Check for living and plumbing sounds at times others are home
• is there a live-in manager? If there is, meet them and ask how things run
• what work has been done recently and is there money put aside for new work?
• have there been any problems with the apartment or the complex, such as leaks, and what has been done about them?
• what are the body corporate rules and the levies you have to pay?
• is there a fund or savings plan to cover large maintenance work?
• what are the other owners like – are they mainly owners or renters? This may affect how quiet and well kept the complex is
• what is the area like – how is it likely to change in the future?
What’s the body corporate?
Most apartment complexes have a body corporate. All the owners belong and pay a levy to cover building running costs and maintenance. The group is responsible for looking after common areas such as stairs, hallways, garaging, car parks and grounds. It also sets the rules for the complex and these can affect what you can do with your unit (for instance you may not be able to alter your unit or run a business from home). Every body corporate is different and it’s important to find out how it works and what the rules are, because it can affect both your use of the property and the value of your investment.
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What do I want in a home? |
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Inside my home |
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How many bedrooms do you need? |
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How many bathrooms do you want? |
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Do you want formal and informal living areas? |
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Do you want a separate dining room? |
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Would you like open plan family areas? |
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Do you like the living to flow to the outdoors? |
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Would you like a fireplace? |
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Do you want a separate toilet? |
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Is a separate shower essential? |
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Would you like a bath? |
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Do you want an ensuite bathroom? |
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Do you want a study or office? |
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Do you need extra space or storage for hobbies? |
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Do you want a modern kitchen? |
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Is gas heating or cooking important to you? |
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Would you like central heating? |
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Do you want a security system?
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Outside my home
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Is a view important to you? |
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Do you want morning, afternoon or all day sun? |
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How important is shelter from the wind? |
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Do you want a private, quiet or secluded home? |
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How important is outdoor living space? |
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Do you want an established garden? |
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Do want a large or flat section? |
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Do you want to drive on to your place? |
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Do you need a garage or carport – how many cars? |
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Do you want off-street or nearby parking for guests? |
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Would you like a swimming pool? |
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Do you need the property to be fenced?
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Other things
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Where do you want to live? |
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What style of home do you like? |
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Do you want a low maintenance property? |
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Are you prepared to renovate? |
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Do you want the home to have potential to extend? |
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How close to work do you want to be? |
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Is public transport important to you? |
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Do you want to live near shops and restaurants? |
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Do you need to be near schools? |
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Do you need to be near health or medical facilities? |
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What sport or leisure venues do you want nearby? |
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How close do you want to be to friends and family? |
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Anything else?
Once again you need to look at many houses before you might get the feel for what your going to like living in. Take your time and do not rush this step. |
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