Buying a future-proof home: 3 things to look for
Flipping property ain’t as easy as it used to be, which means there’s a good chance you’ll probably stay in your first home for at least a few years.
The issue is that a house that suits you now may not necessarily suit you further down the track. You can minimise this problem by hunting for a future-proof home.
Here are three of the most important qualities:
1. Proximity to good schools
You might not be thinking about kids just yet, but purchasing a home in zone for a good school ensures you’re ready if/when that day comes. If you have kids, this is probably already high on your priority list.
As an added bonus, houses in close proximity to good schools often enjoy far better capital gains than those out of zone. For example, research from Bayleys found that properties inside Auckland’s coveted ‘Double Grammar Zone’ were worth $380,000 more than similar houses just metres outside the zone.
2. Office space
The nature of work is changing, with a study by MYOB revealing that almost half of all small- and medium-sized NZ businesses now have employees who work from home at least some of the time.
If you can see yourself working remotely, freelancing or running your own business in the next few years, look for a home with a space that could be used as an office.
3. Tech potential
As various types of technology become more accessible to consumers, it’s important to think about how your prospective home can make use of this upcoming innovation.
Things like residential solar power, internet-of-things and fibre internet are already becoming part of our everyday lives, and a property that can make full use of this (and future) tech is a great way to future proof your home and keep your lifestyle modern.
Got a future-proof home lined up? Check out our NZ mortgage rate calculator, compare home loan options and save big.