It’s funny that buying a house is one of the most stressful times in life, and a time when you’re also forced to deal with all sorts of horrible people – realtors, bankers, lawyers. (I don’t say that in a mean-hearted way; I was once a journalist, one of the most reviled jobs on the most-hated professions list every year.)
The good ones make things easy and I think I got off fairly lightly on that front! I would definitely use my lawyer and broker again. (Alas, we do not have buyer’s agents in NZ.) You’d think it would be quite rewarding, too, helping people achieve a big dream and being involved in part of that happy (if stressful) process. They’re only in our lives for a brief stretch of time, but it’s such a significant period.
That said, I encountered NO END of awful agents and nightmarish properties.
Allow me to rant a little about…
The houses themselves
There are so many damn things to watch out for, the most obvious being leaky homes. But then there’s also all sorts of other materials to be wary of. Asbestos in older houses. Weatherside (I’d never heard of it before), a cladding that looks just like hardiplank but not as sturdy, and falls apart.
Then there’s unconsented work to look out for, or things that don’t match the plans.
I wasn’t opposed to buying a do-up, but do-ups need to be affordable enough in the first place to make financial sense (because you still need to pay for all the renovations!) and in no case did the prices stack up. Plus there were basically no “light” do-ups. They were universally in dire need of a total overhaul… and when you’re spending half a million dollars, you want it to be somewhat liveable off the bat.
And other stuff
I lost count of how many times I turned up to an open home (or emailed about a listed property to organise a viewing) only to be told that it was already under contract. Look, I get why they continue to do showings when an offer is still conditional, but I think it’s lame not to be upfront about it, when it’s rare for contracts to fall through. I can only think of about one instance where I saw the actual house listing had been edited to say “under contract” online, in every other instance it was a case of ‘surprise’!
Speaking of agents, not to tar ‘em all with one brush, but the majority I had the misfortune of crossing paths with were useless. Can’t tell you anything, or won’t tell you anything – well, I’m not going to get a lawyer to check the plans or a builder to inspect the place for every single house I have a modicum of interest in!
I suspect it’s damn near impossible to actually use KiwiSaver funds toward the deposit that goes to the seller’s lawyer. They say you need at least 10 days to process the withdrawal, and that’s a long time. I only had five days to go unconditional – my KiwiSaver money went toward the remaining balance for settlement.
And can I add the weird mind games that come about when bidding on a house? There were eight on this one. You’re in to win and then at the end of it all, second guessing yourself – am I paying too much?
Also, I (perhaps naively) imagined my broker would be 100% in the know and up to date with all things KiwiSaver and home-buying related. Not quite the case.
Hey, vendor’s lawyers: how about being prompt with sending through the dang statement with the final sum to settle? Do you want a deal or not? Because I want to pay you. Seriously.
Finally, dear bank: so my passport expired a week after my mortgage draw down / settlement day, and months after my initial approval, and you need an updated form of ID now? And are you seriously going to ask me for updated ID every few years?