Blog - Cooper & Co

‘The House that Love Built’ is ready for auction

After six months of hard work and good ol’ Kiwi support, the Building Hope home is ready for auction! And boy, it’s a goodie.

This fabulous four-bedroom home is indeed the dream that its contributors wanted it to be – and soon, it’ll be someone else’s.

Overlooking the reserve in a unique, “almost undiscovered” corner of Hobsonville, the home is in its own piece of paradise. The location is perfect for almost any lifestyle: not too close, and not too far. With Hobsonville Point and Westgate only minutes away, you’ve got shopping entertainment on the doorstep – and yet in a tranquil setting.

The wide doors open out onto the reserve, creating incredible indoor-outdoor flow. Inside is packed with all the features a modern family could ask for. The designer kitchen boasts a stylish scullery complete with built-in coffee machine (and a wine fridge!). There’s also a splendid array of the latest Fisher & Paykel appliances and a vege garden right outside.

Every room has the ‘wow’ factor, but the master bedroom is something else. With an oversized walk-in wardrobe and an ensuite fit for kings, it’s the kind of space that many of us could quite happily see ourselves in.

The best part? All profits raised from the sale of the home will go to Cure Kids.

This is a home with a story. Building Hope was initiated by Landmark Homes North Shore Rodney franchisees Paul and Debbie Brett. Their project manager, Jon Copeland, has a son with a very rare genetic condition.

Having seen the challenges the Copeland family face every day and how Cure Kids have helped them, Paul and Debbie wanted to offer their own support. Building a house looked to be a fine idea – and it was.

In the six months since Building Hope began, over 50 businesses from around the country have contributed by supplying materials, labour or both. Each contribution was made with either a major discount or no charge at all.

As an ambassador for Cure Kids, nine-year-old Corin has spoken at several of the Building Hope milestone events.

The 272 sqm home will be auctioned at 6pm on September 27, Red Nose Day – Cure Kids largest annual appeal. Come along and watch the action unfold – and wear your red nose!

Here are some tips for trimming the cost of your mortgage from our partners at Mortgage Express. As a property owner, paying off your mortgage before you retire is important. Once you hit retirement age, the last thing you want is to still be saddled with debt. Here are some ways to help reduce your total mortgage and essentially help you pay less for your property.

Shorten your term
Reducing your mortgage term to 25, 20 or even 15 years shaves thousands of dollars in interest off the total. Even reducing it by one year can save you money. For example, if you borrow $500,000 at 4.00% interest over 30 years, your interest on a principal and interest loan amounts to $359,348*. Shorten your mortgage term to 25 years and you reduce your total interest to $291,755*. Of course, this means your regular repayments will increase, so make sure your budget can accommodate this or you’ll need to alter your spending habits.

Make additional payments
If you can’t afford to shorten your mortgage term, keeping a portion of your mortgage on a variable rate or having a revolving credit mortgage, which works much like an overdraft, may be the answer.

Look out for refinancing deals
Look for refinancing offers with more flexibility or a better interest rate. Be sure to factor in any costs for refinancing when considering this option.It’s worthwhile reviewing your mortgage on an annual basis to ensure you’re getting the best deal. Your mortgage specialist can do a financial health check and help you find savings.If interest rates drop, keep repayments at your current level, rather than be tempted to spend the savings. By doing this, you’ll shave off a substantial portion of your loan principal.

Each product provider has different policies and costs around paying extra amounts off your loan, so get in touch with your local Mortgage Express adviser to find out more. You’ll find additional tips and tools at here or call 0800 226 226

When you’re looking for a new home, one of the first things you need to consider is the order of events – do you sell your existing property before you buy, or after? Here are some factors to consider before taking the plunge.

Buyer’s market or seller’s market?
When buyers are plentiful, but properties aren’t, homes generally sell quickly. In a seller’s market, there is less risk associated with buying first and then selling your existing home. However, sellers in this kind of market may be less likely to accept an offer that is conditional upon you selling your home, so you could end up owning two properties for a period of time.

The average time it takes to sell a property varies from region to region and from month to month, so it’s important to talk to your sales consultant to get advice about current market conditions, recent comparable sales in your area and the possible demand for your property before making a decision to buy first.

Keep in mind also that in a seller’s market there will be more competition, so you can expect to pay top dollar your new home.
The good news is that you’ll have the peace of mind that comes from finding the right house to buy before selling yours.

Do you know how much you can spend on your next property?
Until you sell your property, you may not know exactly how much you’ll have to spend on your next one. In a buoyant market, you could easily have unrealistic expectations when it comes to the value of your own property. Your sales consultant can help you get a realistic picture of your property value by preparing a comparative market analysis of what similar properties have sold for in your area in recent times.

Are you a cash buyer?
If you choose to sell first, you will instantly become a cash buyer and be in a much stronger position to buy as soon as you find what you want. Do your homework on the market and area that you are looking to buy in so you’re ready to buy when the right property comes up.

Have you found your dream home?
Buying a new home is an emotional decision. If you want to follow your heart and buy that dream home before selling your current home, make sure you’re well informed. A good sales consultant will provide quality advice for your unique situation. If you are looking for a very specific type of property and it becomes available, it could be a good move to snap it up even if you haven’t sold your home, but there’s
no downside in getting expert advice before you do.

Are property prices are going up?
If you’re in a rising market, it could make sense to buy your new home first and negotiate a longer settlement. Your current property could potentially rise in value during the settlement period, allowing you to earn more when you sell it.

Are property prices falling?
Falling property prices can work in your favour as well if you can attract an interested buyer before prices drop further, leaving you free to purchase your new property at the lower end of the market cycle. However, falling property prices are also an indication of a slower market so it could take you longer to sell your existing property.

At the end of the day, your best course of action is to work with a real estate professional who can provide you with the local knowledge and insights you need to make an informed decision for your specific circumstances.

A market of two halves

Robert Carter – General Manger

The ‘tug of war’ between market forces remains, yet evidently, the surge of momentum strengthens entering the Spring market.

Determination & confidence from buyers is resulting in some outstanding sales with a notable increase in auction success rates & auctions brought forward.

However, sales volumes remain suppressed due to the lack of listings.  With 260 North Shore sales in August, it was the second lowest August volumes this century, just ahead of 2008 during the Global Financial Crisis.

The North Shore median price has tracked upward consistently, albeit minimally for the past 5 months to reach $999,000 in August.

Although there has been a reduction in sales, the activity & confidence in the market is undoubtedly increasing entering the Spring market. Days on the market remain relatively consistent at 44, prices creeping upwards, buyer confidence increasing along with Auction success rates all providing reassurance around the current market. The shortage of current listings providing an opportune time to list and stand out with less competition in the market.