We are seeking to buy a farmland to live in Franklin. We made a quick visit of Waiuku. It seems a well-established town. Does anyone know is it a friendly safe suburb for family living? And any potential for capital gain in future (we of course don't want our asset to decrease value)? Thank you!
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Is Waiuku(in Franklin) a friendly safe suburb and with potential for capital gain?
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In order for other people help you, you might need to give more information. Like what's your budget , is this a home or rental, where do you work? what types of property are you looking at. Because people can alwasy name a suburb that has a better capital growth.
I will not bet against Capital gain. Here are a well-tried strategy
1. Buy below market value ( Note you need to know the true market value,i.e. Local expert, spend lots of time research)
2. Buy a property with potential to add value ( from cosmetic Renno to add a room or a minor dwelling. You do not have to do anything now but it needs to have the potential.)
3. Buy in an area that has decent capital gains. ( Most investor will not focus in this area at least at this stage, I suggest you should buy the best suburb according to your budget. Don't gamble on the future capital gain. )
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Waiuku is mixed in the town itself. Some good areas (sandspit and the new suburbs), and some bad pockets too. Rural areas on the outskirts probably best for capital gain to be east of the town ie closer to the motorway. The awhitu side definately more limited upside.
Question mark for me is what happens when the steel mill shuts down, which it will it’s just a matter of time. Waiuku will take a massive hit when this happens.
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Originally posted by m78 View PostWaiuku is mixed in the town itself. Some good areas (sandspit and the new suburbs), and some bad pockets too. Rural areas on the outskirts probably best for capital gain to be east of the town ie closer to the motorway. The awhitu side definately more limited upside.
Question mark for me is what happens when the steel mill shuts down, which it will it’s just a matter of time. Waiuku will take a massive hit when this happens.
What makes you think it's just a matter of time for the steel mill to shut down?
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Ybbest, thank you for your nice suggestion! I will add more information here: Our budget is $850K if to buy bareland and spend another 150K to put an either relocated house or Builtsmart company's budget new house there. Or to spend up to $1M to buy a farmland with dwelling on it. That will be our home house (Not investing house). My partner wants to find a job at local steel factory, We want to live there for 3 or 5 years, to enjoy an organic life and add some value on it or just wait for capital gain by market circle itself, then sell it to move to another smaller farmland (so we can have some cash out for future). But now after read what other peoples' suggestion here, it seems Waiuku is NOT promising for capital gain, instead of, someone here said the single industry steel factory could be gone one day, which worries us too, because my partner wants to find a job there. Thanks.
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Originally posted by m78 View PostWaiuku is mixed in the town itself. Some good areas (sandspit and the new suburbs), and some bad pockets too. Rural areas on the outskirts probably best for capital gain to be east of the town ie closer to the motorway. The awhitu side definately more limited upside.
Question mark for me is what happens when the steel mill shuts down, which it will it’s just a matter of time. Waiuku will take a massive hit when this happens.
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Originally posted by SarahMelodyShi View PostHI, m78, Have you got any inside information about the steel factory will be gone one day? We are worried because my partner wants to find a job in steel factory if we move to Waiuku. thanks.
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Originally posted by SarahMelodyShi View PostHI, m78, Have you got any inside information about the steel factory will be gone one day? We are worried because my partner wants to find a job in steel factory if we move to Waiuku. thanks.
No inside information, I could be wrong. Its just my opinion which I based on the following;
1. It has produced returns below expectations for its Australian owners, Bluescope.
2. Workers had to give up allowances / bonuses equivalent to something like 10% of their total remuneration to keep the place going a couple of years ago.
3. It is tiny in comparison to the Mills opening in China, there are lots of them, and they don't have the same costs r.e. distance to market.
These factors were enough to put me off investing there.
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Originally posted by Natetrade View PostHi Sarah - I can help you out here. What is your partners background? Engineer, finance etc??Last edited by SarahMelodyShi; 08-05-2018, 07:38 PM.
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