1st Time Buyer.... Auckland Apartments?

[Newb]

Hi all, I'm from Ireland and just married a Kiwi. I'm not really familiar with the NZ property market.

We're looking to buy a place, under $300k, to live in and stop paying rent. In 2 years time, we'll go for something bigger. For now an apartment, city centre with parking would be ideal.

We've seen some very cheap apartments and wonder why so cheap? What should we avoid?

Any advice would be greatly appreciated. We need to start somewhere and stop paying rent. Thanks a million.... in advance.

[DNParker]

Iconicity know lots about Auckland apartments - focus on property finding for the investor market but might be able to help?

[egan123]

Make sure you have a professional Building Inspection done, be very careful because you need to be sure you will not be buying a nightmare. I have Built or managed the construction of a number of Aucklands prime commercial buildings in the CBD and I know how the new piles that support the Viaduct will react over the next ten yrs also.
Having a report done on just your apartment, just will not be enough protection for you. You need a commercial Inspection Report done. Good Luck

[CJ]

Make sure you have a professional Building Inspection done, be very careful because you need to be sure you will not be buying a nightmare. I have Built or managed the construction of a number of Aucklands prime commercial buildings in the CBD and I know how the new piles that support the Viaduct will react over the next ten yrs also.
Having a report done on just your apartment, just will not be enough protection for you. You need a commercial Inspection Report done. Good Luck

How much would these reports cost.

Can buyers really expect to have to pay this on what might be just a $120k purchase.

[egan123]

$120K is $120K, its up to you guys, if you think that the report is cost prohibitive and don't really need a total building report, take the chance, you might be ok, and you might not. Who knows exactly, me, I would have a comprehensive building report and that could cost upto $2K, depending on the building, then finding the right inspector will probably be the hardest, most go with inspection companies and some wind up in the poo, best option is people who actually built the Multistory building your looking at, find there project manager and ask them for a report, or Prendos do them.

[AMR]

There are many other recognised why viaduct apartments are not a good idea - leasehold for one.

But yea, Paul Reid would be a good one to talk to about apartments. He charges 7.5k as a finders fee though. There is a booklet on the Apia website titled "5 things to do when buying an apartment" which is a good read.

[eri]

1st thing colleen is to go through this thread

http://www.propertytalk.com/forum/showthread.php?t=18263&highlight=quality+apartments+auckland

once you've narrowed down your choice to a couple of buildings you can call/visit the council weather-tightness section and ask if the building has a current "warrant of fitness", if there are outstanding issues you can pay $16 and view the buildings "file", if anything looks ominous or you don't understand what you are looking at you can pay $60 and walk away with the "file" on cdrom to take to an architect/builder/egan123 for them to translate for you

details like who made the building can usually be googled, common names are multiplex, conrad etc. but different co. will also have done the foundations etc.

BC minutes also a must to read through, but not the be all end all

what about this?

http://www.trademe.co.nz/Trade-me-property/Residential-property/Houses-for-sale/auction-286675059.htm

[egan123]

THANK YOU ERI MATE, you are SPOT ON, common sense is what its about, if you don't want to loose $120K, get of the proverbial Backside and search yourself, ERI is correct, I do commercial reports, and now I'm becoming and old man, and helping more than hindering. But you will be surprised just how many experienced people in the industry who genuinely want the public to get a fair crack of the whip, or get a fair deal. Ask (CBA) Certified Builders Association, they're in the book and in my eyes probably the best. Good luck and keep us informed.

[egan123]

There are many other recognised why viaduct apartments are not a good idea - leasehold for one.

But yea, Paul Reid would be a good one to talk to about apartments. He charges 7.5k as a finders fee though. There is a booklet on the Apia website titled "5 things to do when buying an apartment" which is a good read.

Ok AMR, Iknow a Paul Reid, did this one used to be a plasterer? just wondering if its the same one

[rentalrunner]

my parents just sold an apartment in akld central for 205k - nothing wrong with it but not much room to swing a cat there. fine if youre just using it to sleep at night but no good for living. check natural lighting, car parking and neighbours ...

[CJ]

Ok AMR, Iknow a Paul Reid, did this one used to be a plasterer? just wondering if its the same one

N. - he use to be a shortland street actor and drummer in his own band Rubicon.

[High Profiles]

Getting to know Auckland Apartments

A good way to narrow your search when trying to get your head around Auckland apartments is to do a search for your specific criteria on our website highprofiles.co.nz.
We have data on over 16,300 Auckland apartments so you can quickly find what you need by specifying a search such as over 70sqm, 2 carparks, 2 beds, this "off the market" search will show all apartments not just what is currently "on the market".

You can view interactive flash floorplans and photos too! hope this helps.

[eri]

yes, highprofiles is 1 of my fav. sites

no listing of the eclipse building yet but probably about 90% of auckland apartment buildings are there

http://www.highprofiles.co.nz/

[CJ]

no listing of the eclipse building yet but probably about 90% of auckland apartment buildings are there

The Sentinel on the shore isn't on their either.

Webdesigner - are you planning on adding any further info to the site. Example of the top of my head would be bodycorp rules and bodycorp minutes for buyers and whether water/gas (hot water) /electricity in included in the bodycorp (ie. paid by LL) for tenants.

[captaincrab]

I suggest you look at City Sales. They are apartment specialists and developers hate them. Which is probably a good recommendation!
They probably do around half the sales in the apartment market, so are pretty dominant.

http://www.citysales.co.nz/apartments/