I bought my 1st Invercargill property 2000,a 1930's bungalow for $19000,did it up and sold it for $26000,then bought my 2nd,a turn of the century wooden villa for $21000,which I sold in 2002 for $26000.
My 3rd was a seaside property in Wangavegas for $23000,that I sold for $32000,4th a 3bdrm x state house in Taumarunui for $25000,which was sold for a little under $40000 and 5th a 3bdrm x forestry house in Tokoroa for $32500,which was sold for double the money.
Over that 7 year period,I'd owned 5 houses,lived on both islands,in 4 different towns (2 being cities) and believe it or not there are still people out there,today,who think they're smarter than me,who are still living in the 1 home they own,that's falling down around their ears,because they can't look after it.
The facts are that every house I've owned,I've left much better than what it was beforehand which has improved the living standards of future residents.Hey may as well blow my own trumpet a bit eh!
Currently I've a 1930's Art Deco Invercargill property that I bought 2007 for $210000,spent a further $50000 on both maintenance and improvements,that 3 years later isn't worth much more than I bought it for.Depressing isn't it?
However due to the recession,property prices have fallen over the board and for the same money,I can now afford an over 60's new maintenance-free-luxury-unit,which I forsee as my next move.I certainly see no future doing up old houses for other people to move in to wreck.If I did,though,it certainly wouldn't be in southland where there's no demand because buggerall people want to move here.
My 3rd was a seaside property in Wangavegas for $23000,that I sold for $32000,4th a 3bdrm x state house in Taumarunui for $25000,which was sold for a little under $40000 and 5th a 3bdrm x forestry house in Tokoroa for $32500,which was sold for double the money.
Over that 7 year period,I'd owned 5 houses,lived on both islands,in 4 different towns (2 being cities) and believe it or not there are still people out there,today,who think they're smarter than me,who are still living in the 1 home they own,that's falling down around their ears,because they can't look after it.
The facts are that every house I've owned,I've left much better than what it was beforehand which has improved the living standards of future residents.Hey may as well blow my own trumpet a bit eh!
Currently I've a 1930's Art Deco Invercargill property that I bought 2007 for $210000,spent a further $50000 on both maintenance and improvements,that 3 years later isn't worth much more than I bought it for.Depressing isn't it?
However due to the recession,property prices have fallen over the board and for the same money,I can now afford an over 60's new maintenance-free-luxury-unit,which I forsee as my next move.I certainly see no future doing up old houses for other people to move in to wreck.If I did,though,it certainly wouldn't be in southland where there's no demand because buggerall people want to move here.
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