Any Auckland City Apartments Investors?
| # | Post |
|---|---|
| 1 | Need some advice. Is it worth investing when you compare rental yield with all expenses (bodycorp fees, rates etc)? trading-angel - 2020-09-24 16:55:00 |
| 2 | Having been involved in apartment repairs, I wouldn't touch one with someone else's pole... geoff_m - 2020-09-25 04:51:00 |
| 3 | geoff_m wrote:
My advice is to take careful note of the above. Not just Auckland either. johnston - 2020-09-25 06:16:00 |
| 4 | johnston wrote: Agreed - its good advice, and for much of "Not-just-Auckland" throw in Earthquake Strengthening for EPBs. sparkychap - 2020-09-25 06:56:00 |
| 5 | I think I saw Auckland house prices up another 2% and at 16% increase in the last 12 months. I do not think the apartment prices look 16% up. Does anyone know what % apartments have gone up? ash4561 - 2021-04-02 10:20:00 |
| 6 | There are a lot of Auckland apartments for sale currently. Some, maybe many, will be vacant. Suggest keep an eye on similar ones to see how long they take to sell. Or if advertised for rent, how long before the ads are taken down or are switched over to for sale. artemis - 2021-04-02 10:39:00 |
| 7 | No it is not worth. Been there and done that. I bought one for $100,000 back in 2001. It was a good building too. Until it became a leaky building. It had to be reclad and ranchsliders replaced. Mainzeal got involved and then they crashed twice under Shipley's management. You have property management fees, and body corp, and body corp goes nasty with court action for repairs. Then the apartment is worth less because the building does not have a code of compliance and then banks will not lend to you unless you have something else. It is very hard when apartment is worth $70,000 and then you have to borrow money to pay for body corp lawyer actions against other players. kamo631 - 2021-04-02 12:45:00 |
| 8 | I sold my apartment 5 years ago after having it for 15 years. I sold it for $270,000 which sounds good but it was not worth all the grief. And now I notice that I can buy it back for the same or similar amount. Back in 2001 I also bought a two bedroom unit for $98,000 and sold it four years later for $180,000 due to bank pressure at the time. That unit was in a provincial city. Auckland apartment at that time was not quick to sell at all and I tried. kamo631 - 2021-04-02 12:48:00 |
| 9 | I don't think the central sugartree apartments have gone up much but thinking the over 55 gated suburb apartments are slightly different and might of gone up. If they don't leak and you can't look after a house and garden any more, are retired and have plenty of money for body corp fees and are not bothered by the ones taken charge of the body corp and the rules I am thinking these might be ok. Some blocks don.t have units for sale all the time. ash4561 - 2021-04-02 15:26:00 |
| 10 | I live in a block of 20 townhouses which are about 16 years old. No instances of any of them leaking. Gutters cleaned every year, annual inspections done for cracks or any other exterior maintenance requirements,roofing inspections and roof washing done annually. Residents are encouraged to report any concerns to BC chairperson and issues are dealt with promptly. BC fee has never been more than $4500 pa and fee includes building insurance and water rates. Suits me fine. pauline999 - 2021-04-02 19:58:00 |
