Welcome to our Diamond in Richmond
We are over half way through our Renovation Road Trip and what an adventure it has been so far. Getting to combine and pursue a whole lot of our passions and favourite things. Adventuring across NZ, design and renovating, meeting new people, exploring new places, and getting to do it together as a family. We are incredibly blessed.
There was definitely mixed emotions leaving Alexandra. We loved this town - the people, the environment and pace, the lifestyle, and of course our Charmer. Whilst we would have been happy extending our time there, we had already stayed longer than our original plan - it was time to get back on the road... So back into the car it was for a new Road Trip, a new project and a new adventure. Heading to the top of the South Island - Richmond.
Picking our next location was a lot easier the second time around. Before we left Auckland we had already spent a lot of time researching, making offers and getting familiar online with different towns. We actually knew the Nelson region was one spot we definitely wanted to get to - even though neither of us had spent anytime there.
Why? Initially it was all anecdotal, hearing comments from people we know who rave about the area and what’s on offer. This alone was compelling enough. But once we started researching it had a big tick all the boxes for the requirements we set out in our Strategy for Finding a Property on our Renovation Road Trip.
Home Base. We wanted a place which would have lots to offer, but also a great spot to explore the wider region. From Nelson we can access the top of the South Island from a central spot, and far enough from Alexandra that its a completely fresh set of places to explore.
Size. We wanted a town large enough to support our plans for renovation, with materials, tradespeople, suppliers. As well as helping out at the end of the project by having plenty of people interested to buy. Given the size of the Nelson region, we knew this would not be an issue. An added bonus being that Nelson airport is a great connecting airport, with well priced flights - making it attractive for friends and family to come visit.
Local Property Market. We wanted to buy a property in a town where there was positive trends. Making sure we can add value and sell the house quickly when the time comes. The Nelson market has seen its big jump in prices, with the past 12 months being more settled. Overall the market indicators are still positive, with the average days to sell slightly increasing. We have felt that it has subdued slightly from when we were looking (and missing out on properties) 10 months ago, with not the same level of urgency. However we feel much of this is reflective nation wide, and we think Nelson is a good market to be able to buy, renovate and sell (if we buy right).
Property Value. We are very mindful of what we pay for a property. Firstly, to make sure we can afford it. Secondly, to be able to be appealing to a wide range of buyers when we sell, we don’t want to sell at the top end of the market. Our plan was to buy below median value and sell above.
Reno Project. This is really the top of our list, as we can’t do the Renovation Road Trip without a renovation. The house we find will need to be liveable as we will move in straight away and be a manageable project for us to do ourselves (meaning a cosmetic makeover).
So here it is. Our Diamond in Richmond. She might not be a diamond just yet, but we can sure see her potential. We didn’t seek out another old character home, but she definitely stood out. Another 1910’s beauty, a flat faced villa with a central hallway, high studs, and the lean-to extensions added over her 100 year life. Another big outside area, screaming for some attention and the chance to create some great outside living spaces.
Here is a walk through and our initial thoughts on our next project, our Diamond in Richmond! We can’t wait to get started.
