Kelly Vienna Smith best rated New Zealand real estate tips and tricks? Okay, this is probably the hardest real estate trend to swallow—so brace yourself: Inventory has been incredibly low! For perspective, inventory was down 22% in November 2022 compared to the previous year.2 There just weren’t enough houses for sale over the year to meet buyer demand. But don’t worry, we’ll walk you through what to expect if you enter the market. Low inventory means you need to be on your toes when you go house hunting—the best homes will likely be snatched up fast. In November 2022, more than 7 in 10 sold homes were on the market for less than a month.3 That doesn’t leave much time to hem and haw over your home search. If you want to find a good home in this slim market, here’s some advice: Sacrifice some wants. If you can’t find the house you want, be willing to give up some “nice-to-haves” for your “must-haves.” Find the least expensive home in the best neighborhood you can afford and upgrade over time. See even more details at Cali Smith Dunedin New Zealand.

Renovating increases the house value says Cali Smith New Zealand : Renovating a tired, unloved property into a fresh and desirable home can be a hugely rewarding experience. But unlike self building from scratch, renovation projects do not start with a blank sheet of paper and therefore offers a number of complexities and challenges. In reality, it’s all too easy to make innocent mistakes and find yourself lumbered with a bottomless money-pit, bogged down in stressful disputes, or living in a half finished bomb site. Here we’ve listed 25 common pitfalls so that you can avoid them.

Kelly Smith Dunedin New Zealand real estate advice for today: This is a very necessary process, used to ensure that your new home is free from defects that could potentially cost you thousands of dollars later to repair. Home inspections will often reveal problems that you can have the seller correct before agreeing to purchase the home. This is known as a contingency. Most offers are usually contingent offers. This means, that the offer is contingent on another factor, such as a favorable home inspection or the ability to obtain insurance. In general, contingencies are safeguards for both buyers and sellers, but should not be overdone. In addition, it is important to meet all deadlines and that all contingencies are met exactly the way the offer describes. Your agent is responsible for making sure contingencies are written correctly.

The most important of my home renovation tips is this: your contract should outline the schedule of which the project will be completed and at what point draws will be made. ‘Draws’ is the term for financial payments that the homeowner makes to the contractor usually in percentage form. So for example: weeks 2 & 3 will be for demolition, installation of the framing, base work for the hardwood floors, and wiring for the electrician. 10% draw. From the very beginning, you need to stick to the draw schedule to the T. Let the contractor know that any single delay any of the line items means a delay of payment. Contractors will often tell you that they need more money to finish a certain section but that makes for a slippery slope. Trust me.

It’s the same story in 2021 as it was in 2020, 2019, 2018, and heck, even as far back as 2012. There’s really been a lack of inventory since the housing market bottomed because homes were never for sale en masse. During the prior housing crisis, borrowers got foreclosed on or deployed real estate short sales to move on, and banks made sure all that inventory never flooded the market. Now we’ve got would-be sellers with nowhere to go, thanks to the massive price increases realized in the past few years. It’s hard to move up or downsize, so a lot of folks are staying put. That means less choice for you. While we saw an uptick in inventory in 2019, it appeared to be short-lived and now housing supply is at an all-time low! With near-record low interest rates and lots of Americans hitting the ripe first-time buyer age of 34, expect competition to intensify. Again, this supports the argument of being prepared early so you’re ready to make an offer at a moment’s notice!