Is ‘location, location, location’ really so
BELINDA: It's great to hear you appreciate how essential it is to do your due diligence on a property itself when you’re looking to buy, and you’re right that it’s also a good idea to find out as much as you can about the neighbourhood.
You’ll have heard the old saying that the most important thing in real estate is location, location, location. That’s not simply about property values; it’s also because your property’s location can influence the lifestyle you and your family are able to enjoy while living there.
RESEARCHING THE NEIGHBOURHOOD
With your children, one thing you’ll want to understand early on are your nearby options for daycares, kindergartens, and schools. If you’re unclear about school zones, the Ministry of Education has a handy ‘Find a school tool’ on their Educationcounts.govt.nz website.
There are also other important things you can research online or in person. Are amenities like shops, playgrounds and supermarkets within walking distance or an easy drive away? How is the public transport service? What are the commuting times?
It can also be a good idea when going to a viewing or open home to allow some time to take a drive around the surrounding area.
You mention ideally finding a neighbourhood with other children nearby. You can often get an idea of this from a walk or drive around the neighbourhood. You may literally see or hear kids playing on their property or riding bikes, especially on weekends.
Without infringing on anyone’s right to privacy, you can also keep an eye out for clues like trampolines or ‘Baby on Board’type stickers on car windows.
Take a look at the general tidiness of neighbouring homes. Are things like garages, lawns and fences well-maintained overall? There might also be home businesses operating in the neighbourhood that you’d want to be aware of. You can also arrange to visit the property at different times of the day and week, to see if there are noticeable differences in traffic or noise, not to mention the sun at the property you’re interested in, as well as street/ footpath lighting outside.
Many suburbs these days have created social media pages discussing local issues, sharing upcoming community events and making connections with neighbours. Having a look at those pages may be helpful for getting a feel for the community.
You might even consider posting on a community page to say you’re looking at a property in the area and would love to know more about the neighbourhood.
NOISE AND SAFETY
Neighbours can also be a good initial source of information on noise or safety issues. You can ask if they are aware of any recent burglaries, or persistent issues such as regular parties, aggressive dogs, or cars speeding/doing burnouts.
NZ Police also publish some crime data online, including information on time and place down to a relatively granular level.
There are a range of reports and interactive tools that you can use to access that data available via policedata.nz.
DISCUSSING WITH VENDORS AND REAL ESTATE PROFESSIONALS
Naturally, you are also entitled to ask for information about the neighbourhood from the property vendor and/or their licensed real estate professional (licensee) if they use one.
A good licensee should not only know the benefits of a neighbourhood they regularly sell properties in, but they should also have an awareness of significant issues in the area that buyers would want to know about.
Under the Code of Conduct REA oversees, licensees must act in the best interest of their client while undertaking real estate agency work (Rule 9.1), however they must also act in good faith and deal fairly with all parties (Rule 6.2) and they may not mislead, provide false information, or withhold information that should in fairness be provided to a customer or client (Rule 6.4).
It makes sense to ask the vendor and/or licensee any questions you have about the neighbourhood, even if you’re planning to also look for information from other sources. While you can have a conversation about these things, to ensure there’s a clear record of what you’ve been told make sure you follow up with an email and confirm the information in writing.
If it were to turn out you had been misled, a written record is likely to make it easier for those responsible to be held to account.
COUNCIL DOCUMENTATION
It is always a good idea to obtain a Land Information Memorandum (LIM report) from the local council regarding any property you’re considering making an offer on. A LIM report will contain a detailed record of a range of information held by the council on that property.
This documentation can include a lot of technical information. It’s a good idea to have your property lawyer or conveyancer review the material to identify any details you might otherwise have missed.
For more information visit settled.govt. nz.
Residential / Commercial / Rural / Property Services