Our purchase criteria

  • The property should be well located in towns or cities of New Zealand. YouOwn does nor invest in rural or lifestyle property.
  • The property should be relatively new and structurally sound i.e. equivalent of being no more than 20 years old and or recently refurbished to bring amenities and features up to modern standards.
  • The property is not adjacent to high voltage power lines, substations or mobile phone towers.
  • The property should be of a conventional design, with traditional construction, and using conventional building materials, principally concrete floors, timber framing, aluminium or timber joinery, brick or weatherboard, and a well-pitched roof being of colour steel, metal or concrete tile. There will be no predominance of monolithic plaster exterior cladding, and where it is in place, it will only be considered where there is a cavity, or over concrete walls, and the property has eaves.
  • As a guide the following minimum floor area is desirable:
    • 2 bedroom floor area 60m2,
    • 3 bedroom floor area 95m2
    • 4 bedroom floor area 110m2
  • The property should be on an individual freehold title or cross lease title. This can be standalone, duplex or terraced. Strata title will be considered for terraced developments and apartments on a case-by-case basis and where the body corporate is managed by a recognised professional entity and costs are deemed to be reasonable.
  • The property should be in a good state of repair and no deferred maintenance identified. Where previous alterations have taken place that require a building consent, these are to have a code of compliance certificate in place.
  • The relevant Local Authority Resource, Building Consent and Code Compliance Certificate should be in place.
  • An independent valuation will be required to validate the purchase price. This will be in the form of a full Registered Valuers Report that meets the relevant New Zealand Institute of Valuers requirements.  A copy of a valuation report addressed to the home lender may be acceptable at YouOwn’s discretion.
  • A building report will be required to establish the condition of the property and if the proposed purchase meets the property purchase criteria. Any major defects identified in the building report will need to be remedied prior to settlement.