We are seeing an influx of first home buyers from Wellington and Auckland deciding to make the move to Christchurch to get on the property ladder. Young professionals and families are all making the move down south to take advantage of the lower property prices and cost of living in Christchurch. However, unlike Wellington and Auckland there are additional layers of complexity when purchasing your first home in Christchurch due to the ongoing impacts of the earthquakes.
It is important for purchasers to fully understand the earthquake history of a property before making an offer or going to auction. There can often be complex EQC and private insurance documentation to review, building inspection reports, engineering reports, and Deeds of Assignment of EQC and/or private insurance claims to understand. First home buyers (especially those new to Christchurch) should take proper legal advice when looking to purchase property in Christchurch.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.