Leasehold - how to not buy them?

[Loafing]

Hi guys,

I have got myself into bit of a pickle, I have fell inlove with a leasehold apartment in parnell and the vendor has rejected my inital offer.

I am actually a bit relieved my offer was rejected as I am only looking for investment properties and may only live in it for a short time myself.

Always been told to avoid leasehold properties if I am looking for captial gain but I have somehow found myself really attached to this apartment! how do I let go of this idea in my head that I must have it?!?!!?

Thanks in advance.

[AMR]

Find a woman and love her instead, not an investment property.

Love and investing don't go together

[NomoneyNotalk]

Dont buy it. If u want to live in it, then rent it, and use the money to buy a freehold one.

[Ahar]

.........
but I have somehow found myself really attached to this apartment! how do I let go of this idea in my head that I must have it?!?!!?

Thanks in advance.

If you like, come on around to my place.....a couple of hardish slaps around the chops should straigten you out

The reason PI's say not to buy leasehold is because they are "risky"

The increase in leasehold charges is one of those risks over which you have absolutely no control

[Maccachic]

Our office at work sits on leasehold land, heaps of for sale signs have gone up because lease has just been renegiotated in the area and apparently has gone up 30% (if you were part of the group that hired a lawyer) or 36% (if you didn't) from what I have heard.

Given it is commercial land but a similar situation to what you could find your self in.

[eri]

greater fool theory

if the hat fits

wear it

but that's a bit harsh

half of the best parts of london are leasehold

i seem to remember tony blair buying a leasehold place in london

it's a lifestyle choice

not an investment decision

not in nz

not yet

http://www.dailymail.co.uk/news/arti...ht-Square.html

[Loafing]

I have put in offers for another place... hopefully I get a better buy. That way I won't have the money to think about this leasehold place!

Also on another note, has anyone had much experience going to Auctions? I am about to attend one on the 5th of september and was wondering what to expect?

[eri]

watch some of these

http://www.citysales.co.nz/live-auctions/archive/

[Loafing]

watch some of these

Thanks eri!

I can't believe I could not find this earlier!

[mortgage broker]

Just remember your bid is unconditional and take a cheque book. Also if you really like the place don't forget that pre auction offers can sometimes work out.

[Ahar]

Just remember your bid is unconditional and take a cheque book. Also if you really like the place don't forget that pre auction offers can sometimes work out.

IMHO never disclose your price to an agent.... it's almost a guarantee you will never get the property any cheaper on auction day