At G.J. Gardner Homes we recognise the growing population and increasing diversity of New Zealand is changing the way we think about new home construction.
Through a combination of older housing stock on larger sections and our increasingly busy lifestyles, many Kiwi’s simply want to live in a warmer, well designed home, in an established area of good public transport and general amenity.
This has led to growing interest in the existing housing stock of many metropolitan areas as potential new home sites. Three common approaches are taken, subdividing and ‘infilling’ a new home in to your backyard, subdividing and ‘intensifying’ a traditionally detached property with multiple dwellings (medium density) or a ‘knock down and remove’ approach to replace old with new.
Research shows that with residential development your backyard could be worth between four and nine times more than it is right now. And with New Zealand’s cities predicted to house 80% of our total population by 2043, your existing house, or even your washing line could be potentially sitting on a suburban goldmine.
Following a period of sustained house prices rises many metropolitan areas are considered to be priced in excess of new construction costs, therefore subdividing and building, or replacing an existing property can be a smart way to help family get on the property ladder, start or grow a property portfolio or simply build a beautiful new house for you to live in.
Against existing housing stock new home construction has some pretty powerful arguments too, with freedom of choice, easier Reserve Bank LVR restrictions, no heated auctions, new constructions standards, an independent ten year warranty and potential capital gain at handover, home ownership or property investment doesn’t come much smarter.
Common perception is that new construction is too difficult, time consuming, or even just too expensive. This is exaggerated further as press reports talk of widespread metropolitan rezoning or new rules and regulations about what can be built within an area.
We therefore realise that you firstly need to understand if your property is suitable for development prior to making any financial commitment. This is why your local G.J. Gardner Homes franchise can provide a no obligation, Preliminary Development Appraisal, examining subdivision potential of your property, providing peace of mind and guidance from the outset.
The appraisal lists a number of details on your property, including relevant zonings and covenants. This information is the starting point to evaluate development potential.
Should the appraisal be positive and your project proceed, our professional teams and the use of carefully selected external partnerships can help navigate through the often complicated requirements for you, ensuring your project is undertaken efficiently and hassle free.
Contact your local G.J. Gardner Homes franchise today to discuss your no obligation, Preliminary Development Appraisal and see how you can unlock the value in your land with New Zealand’s most chosen homebuilder.
So what are your options? With land prices through the roof it’s reassuring knowing that your current property could potentially be a goldmine.
By subdividing your existing section a new house can be built. Live in one and sell the other, or live in one and rent the other. Or perhaps you could choose to sell them both. Either way, a brand new house in your existing area is a desirable prospect for many.
Medium density developments allow multiple dwellings to be constructed on a single site, usually through the provision of a shared intertenancy wall, for example terraced homes. Modern design, with better noise control and streetscape appearance often mean such developments can be extremely attractive to many Kiwis as it can easily cater for singles, couples and families. Popular and successful medium density examples can be seen in many New Zealand suburbs, including Hobsonville Point in Auckland.
Knock down and remove
If you love where you live but don’t love the house you live in, renovating may not be the most cost-effective way to improve your home. Replacing your old place with a brand new home could easily be a smarter investment and will maximise the value of your location. Modern building standards, lower maintenance and getting the home you’ve always wanted are all major benefits to building new whilst still retaining your post code.
So as many New Zealand cities prepare for long term population growth, why not consider your options whether it’s a new house in the backyard, a replacement of your current home or something bigger. Contact G.J. Gardner Homes today on 0800 42 45 46 or visit www.gjgardner.co.nz to find your local franchise to discuss your indicative, no obligation Preliminary Development Appraisal and find out what options are available to you.