Frequently Asked Questions

Yes, a home can depreciate in value, though it is often considered an appreciating asset over the long term. The value of a home is composed of two parts: the land, which typically appreciates, and the building, which depreciates over time due to wear and tear. The overall value is influenced by both the home’s condition and external market forces.

Choosing between an older and a new home is a complex decision, as neither is definitively better. The “value” depends on what is most important to you, your budget, and your tolerance for risk.

• Older homes: Hidden and expensive problems can lurk beneath the surface, such as issues with the foundation, plumbing, or wiring. A full building survey is essential to uncover these potential costs.
• New homes: The higher price paid for a brand-new home means it can depreciate in value in the short term, just like a new car. It is advised to plan on living in the property for the longer term to account for this. There can also be “snagging” issues to fix and potential delays if you buy off-plan

A broker is an independent person or company that acts as an intermediary, facilitating transactions between a buyer and a seller. Brokers are typically used in markets where transactions are complex or individuals cannot trade directly, such as the stock market or commercial property. They use their specialised knowledge, market access, and network of contacts to secure the best deal for their client in exchange for a fee or commission.

Yes, in many cases, you can pay your property taxes and homeowner’s insurance yourself rather than having them included in your monthly mortgage payment. However, it is not always an option and depends on your mortgage lender and the terms of your loan.