When purchasing a property in New Zealand, there are several factors you need to consider. One of those is natural hazards, such as flooding, Coastal erosion, earthquake and tsunamis. Due to its geography and location, New Zealand is significantly exposed to a range of natural hazards and the effects of climate change will exacerbate a number of these. It is essential to research the area and assess the potential risks before making a purchase.
When buying a home in New Zealand, there are several risk mitigation measures that you can take to protect yourself, your whānau, and your investment.
Consider the location: You should carefully consider the location that you plan to look for properties in as some are more at risk of hazards, such as flood zones or earthquake-prone areas.
Landcheck it: If you’re interested in a property, before moving ahead with due diligence you should first understand if the property is at risk of any natural hazards. This knowledge may stop you from pursuing the property, saving time and money that you would have otherwise spent carrying out due diligence.
Conduct a thorough inspection: Before purchasing a property, it’s important to conduct a thorough inspection to identify any defects or issues that could cause problems in the future. You should engage a qualified building inspector to check the property for structural damage, dampness, or other issues that could affect its value or safety.
