Key Facts:

  • Real estate experts are warning home buyers to be cautious in identifying potential disaster zones before the spring surge.
  • In some parts of New Zealand, homeowners are struggling to sell their properties due to the risk of natural disasters.
  • Buyers should conduct thorough research to determine if a property is in a flood zone, on an earthquake fault line, or at risk of other natural disasters.
  • Insurance companies are becoming more selective and are often unwilling to provide cover for homes in high-risk areas.
  • Experts recommend consulting with real estate agents, insurance providers, and local authorities to gather as much information as possible about a property’s risk factors.

Article Summary:

Real estate experts are urging home buyers in New Zealand to exercise caution when purchasing property in potential disaster zones. In some areas of the country, homeowners are struggling to sell their properties due to the risk of natural disasters. Those looking to buy a home should thoroughly research potential risks such as flood zones, earthquake fault lines, and other hazards. Insurance companies are also becoming more selective and may deny coverage for homes in high-risk areas. Experts advise consulting with real estate agents, insurance providers, and local authorities to gather as much information as possible about the property’s risk factors. Taking these precautions will help buyers make informed decisions and avoid costly surprises in the future.

To read the full article, go to: https://www.oneroof.co.nz/news/real-estate-disaster-zones-warning-to-buyers-before-spring-surge-44198