Would you pay $320k for a 42 m2 LEAKY apartment in West Auckland?
The Ray White agent is asking $49k + estimated $270k share of the rebuild. It is just a one-bedroom unit (1C/30 Westward Ho, Glen Eden).
Since it is a leaky building then you'd have to stump up with a lot of cash. Don't people have better investment ideas for that much cash?
The ground-floor apartment is part of a large Glen Eden complex with a gym and has plans for a refurbished swimming pool (another "no-no" for an investor!)
The current build cost estimates were made by a quantity surveyor - a professional, whose job is to figure out construction costs. I hope it is a different QS, not the one that estimated the original costs of the SkyCity Convention Center :)
While the apartments currently have tenants, they may be forced to vacate during the rebuild (very likely!), meaning potential buyers could endure a period without rental income (roughly extra $20k per year of lost rental income).
That unit wasn't the only one for sale in the complex. Barfoot & Thompson were selling apartment 19E for $65,000 and apartment 7D for $81,000. Last November, the agency also sold 5E for $75,000.
Learn more about Auckland property tips here www.maximsherstobitov.nz...
A Neighbourly Riddle! Don’t Overthink It… Or Do?😜
Do you think you know the answer? Simply 'Like' this post if you know the answer and the big reveal will be posted in the comments at 2pm on the day!
If you multiply this number by any other number, the answer will always be the same. What number is this?
Poll: Should the government levy industries that contribute to financial hardship?
As reported in the Post, there’s a $30 million funding gap in financial mentoring. This has led to services closing and mentors stepping in unpaid just to keep helping people in need 🪙💰🪙
One proposed solution? Small levies on industries that profit from financial hardship — like banks, casinos, and similar companies.
So we want to hear what you think:
Should the government ask these industries to contribute?
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59.3% Yes, supporting people is important!
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25.3% No, individuals should take responsibility
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15.4% ... It is complicated
Night-time chipsealing works on SH2
From 9 to 17 February, stop/go traffic management will be in place on SH2 between McPherson Road and Dimmock Road on multiple nights between 9pm and 5am (Sundays to Thursdays).
During the day, all lanes will be open, but speed restrictions will apply to allow the chipseal to set and to protect vehicles travelling over the newly laid surface.
There may be delays to your journey when travelling through the area. This is weather dependent so check NZTA Journey Planner before you travel.
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