Despite the earthquakes and the struggles that Christchurch has gone through in 2010 and 2011, the Garden City is still a viable option for homeowners looking to build a new home. While the landscape may have altered, the city is striving forward to a bright and positive future. Christchurch will rebuild stronger than ever before – the reason that many families and property owners are looking forward to the next five to ten years of the real estate market and the development of the region.
If you are looking to buy or build a new home, there are a few things to consider before you even start talking to your house builders; Christchurch might have a future ahead of it but it’s crucial that you plan around the new direction in which the city is headed.
Do you have the budget?
It’s important to know exactly how much you can spend on a build. Some are looking to move with an EQC payout and others are just looking to take advantage of the market while it has slowed down. Just ensure that you have enough money to cover everything and at least 15% extra for the unexpected that always seems to arise when you’re undertaking a project.
Pick your suburb carefully
Don’t just stay outside the red-zone; look at the best possible place to build. Suburbs like Riccarton, Papanui and Sydenham are all showing a lot of promise with future developments planned by a number of businesses, bars, restaurants and retail outlets. You could also choose to stay close to the CBD to take advantage of the central city once the rebuild has begun. Building in an area with expected future growth will ensure a solid return on your investment as well as the convenience of location.
Save on materials
Even if you’re looking at a rebuild from an EQC or insurance claim, it’s always effective to save yourself by considering recycled and cost-effective materials. Make your dollar go a little further by reusing hardwood floors, doors and timber. You’ll have more money to work with and be able to build something that you’re really happy with.
What can you do yourself?
It’s always a great way to save on the cost of labour if you can undertake some responsibilities yourself. You can save thousands by doing your own painting, hundreds transporting materials and even more if you know how to swing a hammer or have any trade experience. The pay-off is huge if you’re willing to do a little yourself – the sense of accomplishment alone drives many to put as much sweat as they do money into a build.
Christchurch may have seemed risky mid-2011 when nobody was quite sure of the city’s future, but now, with a clear plan and direction, there’s only one way to go. With a few considerations and a bit of planning and organisation, you can take advantage of the slump that the city is moving out from for the build of your home.
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