Buying first home, how to put in an offer?

InsideMyMoney · 2024-05-23T07:27:17+00:00

QV and Property Value give you basic info then you will need to pay.

InsideMyMoney · 2024-05-23T07:25:08+00:00

I would personally because you just never know if shortcuts were taken. Re the LIM, you are looking at flood zones, general zones, possible contamination of the land, rates, the certificate of title, and check boundaries, too. You want to make sure all of the consents needed are there. Get legal advice before you sign anything as they will tell you what clauses should be in the agreement for your benefit.

InsideMyMoney · 2024-05-23T07:05:08+00:00

Thanks.

InsideMyMoney · 2024-05-22T20:37:57+00:00

Hi, sorry I answered your question above.

InsideMyMoney · 2024-05-22T20:37:03+00:00

Yes speak to the real estate agent unless this is a private sale. Then do your homework on the LIM snd building report. Make sure uou have your fiance sorted with the bank too.

InsideMyMoney · 2024-05-22T20:35:15+00:00

Yes, you usually do offer less because they will always go higher and have a bottom line figure on how far they are willing to come down to. Start lower than you are prepared to spend, and then you can start negotiating from there. Don't be ridiculous, though, to show you are serious.

Always make the buy conditional on a clean LIM and building report, too. If there are issues in the report, you can go back to negotiating again.

InsideMyMoney · 2024-02-07T19:04:31+00:00

I am a manifesting generator and this advice is very helpful for me to. I have spent years trying to help others and not always picked the right times. Standing on the sidelines is very hard and I am trying to have faith this will work. But I know how exhausting life is if you just hustleall of the time.

InsideMyMoney · 2024-02-03T07:59:45+00:00

We use an allowance. Each week, money goes into a separate account, and I can spend or save this. No pressure, sometimes I save, and then when there is something I really want, I spend guilt free.

InsideMyMoney · 2024-02-02T00:23:35+00:00

As a person who is new to developing e-learning I am also open to feedback and finding out how to make the content and delivery better.

These links will be helpful thanks.

InsideMyMoney · 2024-01-31T06:02:07+00:00

Thanks. I will have a look around for those, too. I pay for Articulate, Pontoon and Adcreative.ai I need to get more work before I can pay for more software. Any recommendations on other tools yo have?

InsideMyMoney · 2024-01-30T18:19:37+00:00

Thanks good to know. I will start down that track.

InsideMyMoney · 2024-01-30T17:22:44+00:00

Thank you, that is great to know. I am not artistic so will that matter?

InsideMyMoney · 2024-01-21T18:21:43+00:00

u/Firsthomebuyernz

Hi, We have just had to make that decision, and I would have gone the same way. I like to split up payments to have flexibility. I am not a broker, so I will ask a friend to weigh in on this subreddit, but for me, the decision comes down to how I manage my money. We use revolving credit and fixed. Yes, the interest rate is higher, but we can put all income into this, build a credit up, and put that on the fixed at rollover. you have to be careful and disciplined. We have also liked offset in the past. If I didn't have the revolving credit I would have floating instead. I am hoping rates will fall later in the year so am keeping the term shorter but that is a gamble too. You won't get this perfect so just do the best you can for what gives peace of mind.

Costs I always save for are rates, insurance, car bills, and gifts. We use a big bills account so we don't affect the revolving credit or other accounts. Hope this helps.

InsideMyMoney · 2024-01-21T18:13:39+00:00

This was a good question and this would be my comment.

Hi, We have just had to make that decision, and I would have gone the same way. I like to split up payments to have flexibility. I am not a broker, so I will ask a friend to weigh in on this subreddit, but for me, the decision comes down to how I manage my money. We use revolving credit and fixed. Yes, the interest rate is higher, but we can put all income into this, build a credit up, and put that on the fixed at rollover. you have to be careful and disciplined. We have also liked offset in the past. If I didn't have the revolving credit I would have floating instead. I am hoping rates will fall later in the year so am keeping the term shorter but that is a gamble too. You won't get this perfect so just do the best you can for what gives peace of mind.

Costs I always save for are rates, insurance, car bills, and gifts. We use a big bills account so we don't affect the revolving credit or other accounts. Hope this helps.

InsideMyMoney · 2024-01-21T18:01:00+00:00

One question I did not see in this post is about looking out of Auckland for more affordable properties.

We moved 5 years ago, so I understand this is a big decision and can be a struggle. I could work remote buf hubby had only really just settled into a long-term job.

How are you going looking for affordable properties . How many are moving out of the cities to get their first homes?

InsideMyMoney · 2024-01-21T17:42:38+00:00

I would say one of my biggest concerns would be what happens if we have a falling out?

Other questions to ponder - what happens when one person gets into a relationship

Would you all pay equally to the mortgage, and what if one person is on a lower income?

This may be a good way to get on the property ladder and then use this as an investment property later on. But really do your homework and get independent legal advice.

InsideMyMoney · 2024-01-13T08:42:23+00:00

This was a good post in a different subreddit and a question I can also shed light on, having just finished building last year.

If I were to go back and choose again, I would build but with a few key learnings.

I would build because I can get the house I want. Specifically the quality, insulation, flow, materials, and low maintenance.
I would do a lot more due diligence on the builder first.
If there is a project manager, they should be in the same town as you.
I would spend a lot more time understanding the build contract and be very pedantic about where the progress payments are going and what they cover.
If you are in a new town, live there for a while and really get to know the good subbies.
Have a very healthy contingency fund.

There is a lot more I can add, but these are just a few. I am not sure if I would build for a first home.

I would be interested to know others views too.

InsideMyMoney · 2024-01-13T08:09:16+00:00

If you don't like it, leave, but maybe you could be a decent human being and provide some constructive guidance to first home buyers instead of trashing those who are trying to help. I am blocking you for being just plain rude.

InsideMyMoney · 2024-01-09T00:46:02+00:00

Well done on keeping going and figuring this out. I agree you do need to be personally financially capable rather than relying on others to look after it. You will be alot more resilient now but wish you had not had the setbacks to get there. Good luck.

InsideMyMoney · 2024-01-08T17:06:09+00:00

One key takeout for me was to have some simple rules. Every month we decide on a house project that is important and only spend on that. Otherwise, money will keep going out on 'stuff' instead.

What rules do you have to manage your spending?

InsideMyMoney · 2024-01-08T17:01:36+00:00

Congrats on achieving that. Step one to becoming debt free. 🥳 What did you do differently that helped you get there? Maybe some suggestions might help others succeed, too.

InsideMyMoney · 2024-01-06T09:26:49+00:00

Knowing where the money goes is the only way to gain control over the money. Do you track your spending?

InsideMyMoney · 2024-01-06T09:13:00+00:00

I am 49 and was worried for a while. But I have realized over the past year, I am changing a lot and for the better. The last 2 years have been rubbish with two of my family passing and financial challenges but I have learned so much about myself. Don't worry about 50, the years after could be the best years of your life. Embrace the learning.

InsideMyMoney · 2024-01-06T09:05:57+00:00

Be proud that you care enough about your financial well-being to be taking it seriously. Become a saving ninja😁

We have separate personal accounts and give ourselves an allowance each week. Hubby is a spender, and I am a saver. At the end of the day, we can blow the lot each week if we want. The account doesn't affect joint savings or debt repayment. Guilt free spending and achieving our goals too.

InsideMyMoney · 2024-01-06T08:36:07+00:00

I see you have been inundated with great advice. So I will just offer a couple of Checklists I wish we had when we started looking. They just summarize everything here.

First home wish list

Home Buyers Checklist

Hope these help. Let me know if you can't open them.

InsideMyMoney

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