Some of the cheapest Thames-Coromandel getaways can be picked up for low, low prices – but there’s a catch or two.
A basic property with a price tag of $350,000 has an old Lightweight caravan as its main bedroom and the kitchen can be found in a shipping container. The bathroom is hidden in a DIY cubicle. It has a gas-powered hose pipe shower and a chemical toilet, which needs to be emptied every couple of days.
Richardsons Real Estate Thames branch manager Philip Judd said 458 Thames Coast Road, in Waikawau, was the cheapest freehold property he’s selling and would suit those who want to camp on their section.
The basic set-up can be picked up for $350,000 (although $300,000 gets the empty 1125sqm section only).
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“If someone wanted a no-frills type of thing, it would be ideal.”
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There’s enough room to park the boat on the sloping site and – this is where the second catch comes in – to fillet and cook fish after launching the boat at the nearby ramp.
The current owners sold off their bach next door several years ago and instead created a “fisherman’s bach” on the neighbouring section, which they also owned.
At one point the owners even drew up plans to build a three-storey residence on the site.
There have been issues with slips impacting some of the properties along the Thames Coast Road which had resulted in one property being sold in “as is, where is” condition at auction with a $1 reserve, but Judd said they were not aware of any issues with this property.
The Thames Coast Road camping site might be the cheapest property, but those looking for an affordable bach can pick up a two-bedroom, one-bathroom property at 7 Hazlett Road for $600,000-plus.
A shipping container has been converted into a makeshift kitchen with storage at the "no frills" property on Thames Coast Road. Photo / Supplied
An "old school" bach on Hazlett Road, in Te Mata, has had a price reduction and is inviting buyer enquiry over $600,000. Photo / Supplied
The “old school” bach had been owned by the same family since the 1950s and was the case of worst house best street scenario. It also had a relatively rare flat 827sqm section perfect for tents and parking.
“Most of the other homes in the area have been renovated, either pulled down and rebuilt or done up, so this is the poor cousin in the street so to speak.”
Judd said while a lot of people seemed to be waiting until spring or summer, there were a few serious buyers wanting to take advantage of the current prices.
“They are in the mood to buy and they want to get in before the so-called rush that’s meant to be coming – but we will see.”
Harcourts Thames branch manager and auctioneer Steven Bridson said entry-level properties could be picked up for between $400,000 and $600,000 as stock levels had nearly doubled in the last 18 months.
However, the cheapest properties tended to have something like a tiny home or a house that needed major work.
Bridson has marketed several red-stickered homes along the Thames Coast impacted by the slips with one buyer paying $375,000 for the damaged house on a section that he cleared and parked a caravan on.
Another red-stickered property at 534 Tararu Road, which suffered less damage in the same storm that ravaged the Coromandel over Auckland Anniversary last year, was priced at $369,000.
Bridson said there were some bargains around including a one-bedroom, one-bathroom property at 5 Strange Road, in Waiomu. He said it was the “cheapest home on the largest bit of land”. It is for sale for $475,000 after having its price slashed from $510,000 and has an RV of $560,000.
A cottage on Tararu Road, damaged during the storm last January, is being sold in 'as is where is' condition. Photo / Supplied
A one-bedroom, one-bathroom house just six houses down from the Te Puru boat ramp has an asking price of $599,000. Photo / Supplied
“She needs a bit of work, but they are motivated to sell,” he said.
“It’s the best deal on the market because it’s got so many opportunities.”
Another cute holiday home at 10 Tatahi Street, in Te Puru, just a minute from the beach and with room to park the car and boat, is priced at $599,00.
Bridson said the move-in ready property was the best buy because it was unbeatable in terms of price, location to town and the beach. There was even an International tractor that the new owner could own too, he said.
There has been an uptick in enquiry in the last month with buyers for these cheaper properties often families who want to pool resources together and buy a family bach as a legacy purchase.
“We’ve come across people who have inherited money and they’ve got $300,000 each or something like that or $180,000 and they pool together.”
The Thames catchment area, which runs from Kereta to Hikutaia, is popular with people wanting a weekend bolthole just over an hour’s drive from either Auckland or Hamilton.
- Click here to find more properties for sale in Thames-Coromandel
