What does everyone think about buying an Apartment in Auckland. Saw this ad last night in the newspaper and quite inclined to find more about it, not sure how banks treat apartments loan wise.
http://www.ilico.co.nz/
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sdav: Having looked at that site now (I have a relative that lives in Stonefields, nice area, they have done a good job) I don't see the value of apartments anywhere but a CBD. Just my opinion, that's a lot of money for such a small footprint when you still have to drive most places.
bmoff: I'd be interested to know what the body corporate fees are.
That's the one thing that would put me off buying an apartment. They could be in the thousands plus council property taxes on top of it...
Regards,
Old3eyes
old3eyes:bmoff: I'd be interested to know what the body corporate fees are.
That's the one thing that would put me off buying an apartment. They could be in the thousands plus council property taxes on top of it...
In wellington since the earthquakes, some of the body corporate fees are so high that people now can't afford to live in them, and making a big loss by renting them out. This is mainly due to higher insurance premiums which are part of the body corporate fees. Personally I would avoid anything with a body corporate if you can. Also make sure it is 100% freehold, not leasehold.
quebec:sdav: Having looked at that site now (I have a relative that lives in Stonefields, nice area, they have done a good job) I don't see the value of apartments anywhere but a CBD. Just my opinion, that's a lot of money for such a small footprint when you still have to drive most places.
Aren't CBD apartments similar price or even higher. This one will be brand new and is in a central location. I would prefer to live in a residential sort of environment like Stonefields than City plus to get an apartments with a car park costs even more in CBD. I am going to look at this one today or weekend just wondering how banks will treat it as i am planning on getting a 1 bedroom only.
livisun: I live in stonefields, really enjoy living here. It seems like they have information on their own loans on the site http://www.ilico.co.nz/apartments/information.html
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