Rules for real estate specs?

[petri]

The different type of housing, insulation, heating, and everything are going to be hard enough but are there any official rules for real estate specs in the NZ?

For example,
- areas that are lower than 160 cm are not considered living space
- rooms that have less windows than 10% of the floor area are not part of the living space
- balconies, garages, storage space, not included in the living space

Most of the real estate information available on the web seem to be mostly marketing and pretty (often not-so) pictures, very little exact details or footprints. The estate agents haven't been too keen to send any further material (not available?) by e-mail.

Will I look stupid if I visit houses with my digital laser rangefinger and knock all the walls? ;-)

[JandM]

I don't know about rules.

But I'm with you on wondering. Never mind looking silly, I'll be checking anyway.

[Duncan74]

It's a cultural thing isn't it. In the UK then it's very very rare to describe a house by it's floor area. We may say it has a 30 foot long lounge, or a 10' by 15 foot kitchen, but you'd not normally hear a 150sq foot kitchen, or a 2000sq ft house. But in the states, and europe that's quite common. I'm reading a book at the moment transl;ated from sweedish and every time a character walks into a new building it states the square meterage of the property by way of a description - very odd!

[Super_BQ]

The different type of housing, insulation, heating, and everything are going to be hard enough but are there any official rules for real estate specs in the NZ?

As far as I know, there are none. If there such specs provided by the real estate agent, then it would have to be a really high spec house to start with. Pick an average priced house on the street and you will find no specs at all because simply, average priced houses are built on the cheap. On the same street if you pick a different house that is over 50% more in price for the same given floor space, then you have to wonder about the specs.

Real estate agents aren't builders - so they have no idea on details. If I walk into a high spec house for sale that lists insulated concrete foundation, I may ask, "what thickness of polystyrene?" or "EPS or XPS type?" or "installed under the concrete slab AND around the perimeter footing or just only under the slab?"

The general rule is if you can't see it, then don't expect it being there. Real estate agents wonder why I look at the outside of the house 1st before stepping in. They scratch their head when I ask if the footing of the house has any 'damp-proof membrane' installed (not a requirement pre-2005). One particular house we've seen, it was clear that no DPM was installed because the brick cladding work had signs of mold staining throughout all sides of the house. Built on the cheap? perhaps.

It's a cultural thing isn't it. In the UK then it's very very rare to describe a house by it's floor area. We may say it has a 30 foot long lounge, or a 10' by 15 foot kitchen, but you'd not normally hear a 150sq foot kitchen, or a 2000sq ft house.

Actually in NZ, it's how many bedrooms. The actual size of the house to fit the bedrooms in is not really a factor. I've heard that for 3 bedroom house in Christchurch, a good price is $300,000. For a 4 bedroom it's $400,000 and so on. Architectural designed houses like a "Warren Mahoney" need not apply since they start at $5000/sqm build.

[Ngeru]

It is most annoying that estate agents don't show floorplans or room dimensions in their advertising. I believe some of the more upmarket agents are now doing them.

As an example our house is quoted to be 195 sqm and this includes everything 'within the walls', i.e. the footprint of the building including the cupboards, wardrobes and the garage which takes up a sizeable percentage of the total space. They don't usually include the deck.

[Ngeru]

Will I look stupid if I visit houses with my digital laser rangefinger and knock all the walls? ;-)

Consider that most open homes draw a crowd to see the place in a relatively short period of time (45 mins to one hour at most) and there will be a stack of shoes of the other viewers at the doorstep, it probably would not be the appropriate time to be measuring up.

We have many funny open home stories and one that we always laugh about was where a couple were measuring up for blinds and deciding there and then, pointing at windows: 'Vertical! Vertical! Horizontal!' whilst others were traipsing through and they were clearly missing the 'eau de leaky building'.

[chocolate cake]

It is most annoying that estate agents don't show floorplans or room dimensions in their advertising. I believe some of the more upmarket agents are now doing them.

As an example our house is quoted to be 195 sqm and this includes everything 'within the walls', i.e. the footprint of the building including the cupboards, wardrobes and the garage which takes up a sizeable percentage of the total space. They don't usually include the deck.

Yep, strange it's difficult to see what NZ Estate Agents actually do short of arranging open homes and arranging the advertising which is I understand extra anyway, and obviously the negotiating between buyer/seller. Certainly I'd have thought it difficult to justify the extra costs here in NZ, but having not used one yet can't comment exactly.

[Kiwi Mac]

My advice is to take ANYTHING a real estate agent tells you with a super-tanker load of salt.

If there is such a thing as a Property Misdescriptions Act here, I can attest that it is honoured in the breach rather than the observance.

I have been shown houses gazetted as having a "sea view" for which you needed to stand on an upturned bucket at the end of the garden and squint round the neighbouring house in order to glimpse the sea! I kid ye not.

There is no such thing as a Chartered Surveyor here (quite a few estate agents in the UK are both so the RICS governs their qualification and standards as well) and I think you just collect cornflake box lids to get qualified as a realtor (hideous word!) here.

[Duncan74]

Why do they call it 'real' estate when the entire process is driven by everyone involved competing to tell the most / biggest lies at all times.

[petri]

I know what you mean by real estate agents.. We'll be paying ours $200+k NZD if they manage to find a wealthy russian to wash money with our existing house

I believe we'll be looking into $2m+ house at minimum but I haven't yet seen any indication that the available real estate information would be any better than for average houses -- apart from bigger pictures taken on a sunny day and "clifftop sanctuary" nicknames (helps googling the property, though). Even with the expensive houses there's a difference between built-to-last and built-to-look-good.

I think I'll rather walk away if I won't be able to check an expensive house as long as I wish. It also sounds like I need to hire Super_BQ for a day to explain all the construction quirks that one should be aware of.