House prices have increased by a median of $200,000 between May 2020 and last month in New Zealand.
Five regions have also hit a record high in median prices, making it challenging for both first home buyers and investors to buy new properties in specific cities and places across the country. The rise has occurred due to increasing demand in homes but an all-time low in supply. It is especially important to have an experienced property lawyer behind you to help you prepare legally for a purchase during this time.
At HomeLegal, we can support your mortgage application and read over all the terms and conditions on your contract to ensure you sign a deal that you agree with. In addition, with the changes to the bright-line test and investors not being able to offset their home loan interest costs against rental incomes, there are more aspects that need to be thought of before purchase.
This means that it becomes crucial to talk to an experienced property lawyer who can help explain all obligations and requirements that you might have before buying a home.
HomeLegal is a specialist conveyancing lawyer in the Wellington region, helping home buyers and sellers achieve their goals. Get in touch with the team if you are ready to start your home purchasing journey, and they will be happy to answer any questions.
For more information, visit our website at https://homelegal.co.nz/