Need advice: continue to nest? add value? or sell? in West Auckland

[zhictoz]

Hi,

I got a property at Te Atatu South area that I got lucky when bought it way back 2012 - a 3Bed 1Bath. It's about 809sqm in size. I'm still undecided on what to do about it. Can someone give me some advice please?

1) should I just build a minor dwelling at my back yard? look i haven't check this with the Council, if its allowed or not, but I believe in terms of space, I got plenty of space at the back yard. I thought of this perhaps I'll just make some money out of it. I suppose minor dwelling would cost around 200k base on the turnkeydwellings website.

2) should I just wait for the Auckland unitary plan to roll-out? if so, base on the PAUP I can possibly subdivide, build a new house, then rent it out or sell it?

3) should I just sell it? and if i sell it should i renovate it first before selling? and if I sell definitely I would like to climb the ladder back as I have a family and obviously would want to have our own home.

4) should I just leave it as is, and instead find a new property where I should just invest (I was thinking of Hamilton city)?

Thank you for your feedbacks in advance. Cheers

[Connor]

You should talk to a surveyor to see what you can do and get an estimate what it all costs. We can't tell you anything specific without knowing the property. Does the property has all the services? How's the location of the house, does it meet the access way requirements etc.

[zhictoz]

thanks for your feedback Connor. I'm guessing your feedbacks is about item#2 above? If so, I have checked with the surveyor, base on the 'current rules', property can NOT be subdivided. However, there is a potential for it once the PAUP rolls out so the surveyor and I will review it again. I'm waiting for surveyors feedback regarding the minor dwelling though.

services:
- yes i believe there is a waste water access at the backyard
- the water access is in front of the current house.
- i can remove my carport to make way for the driveway - that is if i'm subdividing i reckon.

what are your thoughts aside from item#2) above?

really appreciate your feedbacks. Cheers

[Connor]

What about stormwater?

If you can subdivide under the Unitary Plan, I would not put a minor dwelling but make sure that this is the case and not a "maybe". Is it zoned mixed housing suburban or urban?

People are now buying with the Unitary Plan in mind, so if it is subdivisible, the market will pay a premium for it. Doesn't hurt to talk to a RE agent to see what your property can get, then you can compare that to the costs of subdividing and building and the returns from that.

[zhictoz]

Yes stormwater is in front of the current house. it is currently zoned "mixed housing urban".

Great suggestion. Let me find an RE agent then or if you know someone from that area please let me know. Thank you for the tips!

[ammar]

Hi,

I am in the same boat here. I have 970sq in wattle downs and asking the same questions like zhictoz. I understand first better to talk to a surveyor. How much the surveyor charge to get initial information ? Any recommendation for one ?
In my property information, it says (Land Use: Multi Units. Flats). Does this mean something ?
Thank you for any information.

[Connor]

Yes stormwater is in front of the current house. it is currently zoned "mixed housing urban".

Great suggestion. Let me find an RE agent then or if you know someone from that area please let me know. Thank you for the tips!

Sounds like you've got a great property. You should get a premium if you sell.

[Connor]

Hi,

I am in the same boat here. I have 970sq in wattle downs and asking the same questions like zhictoz. I understand first better to talk to a surveyor. How much the surveyor charge to get initial information ? Any recommendation for one ?
In my property information, it says (Land Use: Multi Units. Flats). Does this mean something ?
Thank you for any information.

It doesn't cost anything for the initial consult.

That's the current use, you need to find out the current district zone or the Unitary Plan zoning.

[ammar]

It doesn't cost anything for the initial consult.

That's the current use, you need to find out the current district zone or the Unitary Plan zoning.

I called the council, they said, you can and council fee will be about 50K. How much on top of that just to get the paper work ? Maybe it will reach 90K as I read in this forum ?
another 350K to build the house (assuming 3 beds, 2 baths). So total cost could be around 450-500K. No wonder houses are expensive.

[Connor]

Those includes the development contribution and watercare levy. If you can subdivide without affecting your current house, it will cost about 100k-150k to subdivide and depending on where the property is you can sell the empty section for $400k-600k.

[Funstuff]

See ashcrofthomes.co.nz, they build a home for $265K not $350K. I got that tip at a seminar (not my own plug)