Let's go shopping for a bargain

It's a tough gig for first-time home buyers finding a home that's in their budget.

Affordable properties suiting first home buyers are often the first to sell out in new developments, but that doesn't mean there isn't plenty of scope for those on tight budgets looking for their first step on the housing ladder. OneRoof went window shopping to see what's available this week and found a few cracking options well worth considering.

Takanini

First up is 75 Walters Rd in Takanini. This two-bedroom adjoining terrace houses of about 85 square metres for completion late 2018 to early 2019 can be bought now in McLennan, a development backed by Housing New Zealand.

Predominantly being sold to 'ordinary members of the public' the development includes a proportion of affordable housing under $650,000, some bought as first home buyer Homestart properties. These two-storey cedar and brick homes with a front off-street park are freehold without body corporate fees, paying a compulsory Residents Society membership of around $300 a year.

McLennan targets 15 per cent managed social housing spread throughout the development with buyers welcome to know whether an address they’re considering neighbours a social housing home.

Initial sale and purchase agreements stipulate buyers must be owner-occupiers living in their home for at least a year, deterring investors. (Although first home buyers using Kiwisaver to purchase through the Homestart programme have the usual requirement to live in their home for at least 36 months).

Architects Studio Pacific master-planned the community featuring several pocket parks where children can play. Housing New Zealand sold land portions to various ‘build partners’ who construct homes including some larger houses.

Takanini Village and other shops, the Papakura Train Station and schools are within walking distance.

See http://mclennan.co.nz for more information.

Over in Mangere, the Avenue Apartments at 69 Hall Ave is a new development by Kenyon Clarke CEO of Du Val Group. The firm is Auckland’s second largest suburban apartment developers and the development has proved popular with first home buyers. The company, which partners with Auckland and Waikato contractors Downey Construction, is creating 119 one and two-bedroom apartments in this complex, designed by Steve King of Archimedia.

One-bedroom apartments of approximately 50 square metres plus deck and one car park can be bought now from $539,000 for completion in 14 to 18 months' time. Body corporate fees will start from $2500 a year.

Construction is underway and about 65 per cent of the apartments have already sold.

The apartments' two three-storey E-shaped buildings will have exteriors combining painted concrete panels, timber and cedar weatherboards and louvre screens. The secure development will have landscaped grounds and an onsite manager.

It’s two kilometres from Mangere Bridge and Mangere centre, within 6 kilometres of Otahuhu, Middlemore Hospital and railway station and 9 kilometres from the airport industrial area.

Check out this development at http://avenueapartments.co.nz

Finally, Mason Square at 27 Hall Rd Otahuhu is racing along with many Stage One apartments already sold; so its developer is forging ahead with Stage Two.

One of New Zealand’s most experienced builders, Shane Brealey, who founded and then sold commercial builder NZ Strong, is working with partner Martin Cooper in developing three-level 82-unit $48 million Mason Square.

Otahuhu has been identified by Auckland Council for future regeneration.

This five-building development with its own green space neighbours the new Toia Recreation Centre which includes a library, aquatic centre and playground. It’s near parks, shops, a supermarket, the Holy Trinity Church and a new transport hub.

First home buyers are among those already securing their favoured Stage Two apartments, due to start construction this May for completion March 2019. Studios from about 34 square metres plus deck are priced from $375,000, one bedrooms of about 50 square metres plus deck from $435,000 and two bedrooms of about 70 square metres plus deck from $630,000, all with a car park.

There are also a handful of Stage One residences available due for completion in May, to move into in June (2018). These two-bedroom apartments are priced from $530,000 without a car park or from $570,000 - $620,000 with a car park.

Annual body corporate levies are estimated to average $1,600 to $2,000 per unit.

Get the full story at http://masonsquare.co.nz ​