Moving to New Zealand : To buy or not to buy? (Part One)
Are You Moving to New Zealand?
Many people deciding to move to New Zealand will be faced with the same dilemma, should they buy or rent a home? There are advantages and disadvantages to both sides when considering moving home, and ultimately it will be dependent upon the people moving and their needs. Here is the first of a two-part guide on the different aspects and considerations of renting and buying property in New Zealand.
Renting on a short-term or long-term basis is a fairly straightforward process in New Zealand. Housing legislation and official processes are centrally administered by a government agency, The Ministry of Business, Innovation and Employment (MBIE); they provide standard contracts outlining the responsibilities of both tenants and landlords. The agency also holds rental deposits, oversees landlord and tenant disputes and can provide expats with information on average house prices in different locations on its website. Once you have signed the lease and prior to moving in, some rental agents can charge an agent’s fee; usually the amount of one week’s rent. Also, it is normal for rent to be paid twice a month in advance to landlords in New Zealand. Expats will be expected to pay a deposit or bond of up to a month’s rent with which the tenant will receive a receipt. Upon leaving the property if there is any damage that is determined to be the tenants fault, the costs will be deducted from the deposit before it is returned. Most rented accommodation will be empty, although some already furnished property can be found at request.
Before considering renting a property, those immigrating to New Zealand should consider their plans once they arrive. You may wish for some temporary accommodation when you first arrive, giving yourself a chance to settle into your new home before finding somewhere more permanent to live. Those who plan on living in New Zealand long term do tend to purchase a family home after 1 or 2 years. If you intend on moving to different cities in New Zealand over a longer time period it is advisable to rent accommodation, as there is less notice required than trying to sell your own property. Finally if you decide that New Zealand is not for you, you have more flexibility to head back home to Britain if you rent.
Are you moving to New Zealand? Whether renting or buying accommodation Burke Bros are here to help you! We offer a professional international removals service and can help you relocate to New Zealand – for more information please call 01902 714555.