Buying a property? Know your property’s potential!

When you are buying a property, its important, whether or not you are buying for solely investment purposes, to understand what the potential for development for that property is.  Its also important to understand what forms of development may be allowed on neighbouring properties, and how future neighbouring development might affect you. Understanding planning implications for a site is a critical part of your due diligence on a property.

Avanzar Consulting staff often provide advice and information to prospective purchasers of property.    You might be looking at buying a site with the view to subdivide; add additional dwelling units; convert a property to a commercial use; or to use a property for a home based business or Airbnb type use.

You might also be looking at a property that adjoins a commercial use, or that adjoins a property that has potential for development.  You cant assume when you buy property that the neighbouring land use will stay the same.  Being aware of what your neighbours can do with their properties is important, as it may impact on your decision to purchase!   Knowing how large an extension a neighbour might be able to build on their site can have an impact on the amenity of a property that you might want to buy, and may also have an impact on the purchase price.

If you need assistance to fully understand the implications of the District Plan rules on a property you are looking at buying, then get in touch with our experienced staff.  We can assist with:

  • Advising on existing District Plan rules, and providing guidance on how those rules can affect how you propose to use a site,
  • Advising on what forms of development you might expect to arise on neighbouring sites,
  • Assistance on understanding how neighbouring development might affect you in reality,
  • Providing advice as to whether you are likely to be able to gain consent for a particular form of development,
  • Providing advice on potential costs such as application fees, development contributions and consultants fees,
  • Providing advice and input into concept designs in such a way to enhance your chances of getting consent for your proposal.

Its so important to fully understand the planning constraints and opportunities of a site before you spend the big dollars on buying it!  Contact our staff to see how we can assist you with your property purchasing due diligence phase.