ARTICLES > Moving home? It's a great time to review your service providers.
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Moving home? It's a great time to review your service providers.
• two thirds reviewed their home loan provider and their electricity, • and 61% reviewed their telecommunications provider. • Around a quarter review their gas provider, cable or satellite TV provider, and gardening or landscaping services. After reviewing their service providers, many people decided to switch. Of those that considered changing telecommunications, insurance, loan or electricity providers, about one third to half ended up switching. As a result; • 30% of people change electricity provider, • just under a quarter change telecommunication and insurance provider, • and 19% change loan provider. Not everyone who considered changing providers ended up doing so. Of those who chose not to change; • 61% of people said it was because they were happy with their current provider. • 37% found that the alternatives were not good enough to make them want to move provider, • and 14% said they did not have time to look at the alternatives. During and after moving house there are other expenses that are incurred, apart from those actually associated with the move such as moving companies and lawyers. • Over half the people who moved spent up to $7,000 on home furnishings, the same on whiteware goods, and the same on painting and decorating. • One third of people spent up to $1,000 on lighting and other electrical goods after moving into their new home. • Half spent up to $2,500 on gardening and landscaping, • and one quarter spent up to $1,000 on bathroom and plumbing. • Just over one third of people undertook kitchen renovations, and the same on other major renovations. In a slightly surprising result, 28% of people who moved then spent money on a car, perhaps using the opportunity while restructuring their mortgage to stretch further, or using the house sale proceeds to fund the purchase. The survey also showed that people tended to sell their existing home (57%) before buying another (43%), with 21% of respondents stating that they brought or sold privately, that is without using a real estate agent. For more information, go to the Quotable Value website. |
Recently Quotable Value, the government owned property valuation company completed a survey to determine what products and services people consider, review, or purchase at the time they move house. The survey found that around three quarters of New Zealanders combine moving home with investigating their service providers and most make significant purchases of other products or services around the same time.