Right folks I'm sure this is a question that gets asked here a bit but with the AUP now passed does this change anything?
Sold our place on the shore to move closer to town. Been on the hunt 4 weeks now. Our price level is upto $1.1m.
Our choices are either
- Half sites on a X lease in central suburbs- Mt Albert,Ellerslie, Onehunga, Sandringham. Have the inconvenience of shared driveways and inability to change the footprint. On the plus side less competition with Chinese buyers, good neighbourhoods and great schools. Also good transport links with the ability to drive into town not using the motorway
- 600-800sqm freehold houses but in south and west suburbs- New Windsor,Mt Wellington, Te Atatu, Mangere Bridge, Glen Eden, BHB. Nice big freehold sites with solid 1960s houses and in the future ability to subdivide or extend. Downside- neighborhoods can be rough with State housing, schools are not as good and also with the increase in traffic in AKL the drive to the city takes a lot longer from here.
Basically my wife prefers to live closer to the city but I would prefer to save $150k on our mortgage and buy further out. The capital gain piece and the future value of the land is the interesting point for me. Attending auctions and open homes the market still is busy in central especially under $1.1m but there's not as much activity in the outer suburbs.
Out of the two scenarios which one is likely to have more capital gain as a %?
Sold our place on the shore to move closer to town. Been on the hunt 4 weeks now. Our price level is upto $1.1m.
Our choices are either
- Half sites on a X lease in central suburbs- Mt Albert,Ellerslie, Onehunga, Sandringham. Have the inconvenience of shared driveways and inability to change the footprint. On the plus side less competition with Chinese buyers, good neighbourhoods and great schools. Also good transport links with the ability to drive into town not using the motorway
- 600-800sqm freehold houses but in south and west suburbs- New Windsor,Mt Wellington, Te Atatu, Mangere Bridge, Glen Eden, BHB. Nice big freehold sites with solid 1960s houses and in the future ability to subdivide or extend. Downside- neighborhoods can be rough with State housing, schools are not as good and also with the increase in traffic in AKL the drive to the city takes a lot longer from here.
Basically my wife prefers to live closer to the city but I would prefer to save $150k on our mortgage and buy further out. The capital gain piece and the future value of the land is the interesting point for me. Attending auctions and open homes the market still is busy in central especially under $1.1m but there's not as much activity in the outer suburbs.
Out of the two scenarios which one is likely to have more capital gain as a %?
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