2. View multiple times
Too many Kiwis buy homes that they've only viewed for a few minutes. Make more than one visit and take time to look at every aspect of the house right down to opening the cupboards and moving furniture and rugs to look for damage. Take a clipboard with you and take notes. You might even want to bring furniture measurements and sketch a floor plan. Return at different times of the day to see how the light changes and also possibly the vibe of the neighbourhood.
3. Naval gaze
There's something about house hunting that brings out the unrealistic in us. If you can identify your delusions, you're far more likely to be successful.
No matter how convinced you are, you're just not going to find six bedrooms on a full site in the Rangitoto College zone for $400,000. Sometimes, that perfect home is in front of us but we just can't see it.
If you're determined to live in the Balmoral Intermediate zone, you might compromise on buying a period home. There's something beautiful about brick and tile when it means you can live in the area you want.
4. Set yourself 10 criteria but only hope to tick off 7
Make a list of all the attributes you're looking for. Then take a long, hard look at them and put them in order of the most important to the least important. "If there are 10 things you are looking for in a home, and the house you find can tick off seven of those, buy it," says Coulson.
5. Consider future value
Eventually, you'll have to re-sell. To maximise your capital gain consider things such as transport links, local shops, motorway access and orientation to the sun, says Coulson. "Even if some of these things aren't important to you, they might be to someone else in the future."
While you're at it, check out the exact school boundaries -- even if you're childless. "[Don't] assume that just because a home is in a specific suburb, it must be in a particular school zone. This can vary depending on which side of the street you're on."
6. Wear out your shoe leather
Take a leaf from seasoned property investors, who sometimes buy one in 100 homes they visit. Sign up to real estate email alerts for new properties on the market, says Coulson. Create a shortlist and set yourself up a comparison chart, which includes columns for factors such as the cost of improvements, the floor size and section size.
7. Get to grips with the data
If buying a property is more than just about what the kitchen and bathroom looks like, you might want to check out the property info on QV.co.nz.
It's worth investing in a comprehensive report and paying for a local area sales report. This allows you to compare recent sales, narrowed down on various criteria such as sales price range, number of bedrooms, floor area, land area and more.
8. Get a professional inspection
Otherwise beautiful homes can hide some hideous defects. Always get your home inspected. Beware that not all companies offering pre-purchase building reports are created equal.
And don't take a report supplied by the vendor or real estate agent as gospel.
9. Get ready
Aim to be in the most competitive position you can be as a buyer, says Coulson. "This doesn't always mean having more money, but the terms on which you offer. Usually 'cleaner' offers, or offers with fewer conditions are stronger."
10. Take legal advice
Don't bid at auction or sign a sale and purchase agreement without seeking legal advice. Lawyers regularly find themselves sorting out terrible messes after the fact. For example, says Coulson, when buying a cross-lease property, ensure the plan matches the footprint of all dwellings on the title not just your own. "Even if your house is correct and your neighbours' house isn't -- it means you both have a defective title."
