Beach houses

[redzone]

bought one at Waihi Beach some ten years ago...sold last summer..went up average $105k a year I had it... better than Telecom...FPH or any of our top ten I would imagine ...will buy another in a year or so...

[foodee]

bought one at Waihi Beach some ten years ago...sold last summer..went up average $105k a year I had it... better than Telecom...FPH or any of our top ten I would imagine ...will buy another in a year or so...

Redzone
Wow! Getting paid 105k a year to enjoy your 'beach batch'.
It doesn't come much better than that - well done.

cheers

[ScrappyO]

Yes, I know of someone with a beach house on the Coromandel peninsula who reckons it costs him $10000 per year in just rates and insurance. Then there is the petrol, and maintenance costs etc. At least they get a lot of use from it but there are others that spend very little time in theirs. Say it costs $20000 per year, that would buy a family of four a decent holiday in Samoa instead.

Agree..I used to have a beach house on the coromandel peninsula. Sounded great to have a beach house but i perfer to see new places rather then going to the same place all the time. But still it was hard to sell...emotions and all that.... but im glad we did.

[fungus pudding]

15% of WHANGAMATA residental homes for sale and, and unconditional sales for feb/march/ aprill/ worst in decade....ps source just retired coromandle real estate agent of 23 years. not much better in surrounding towns

You aint seen nothin' yet!

[tim23]

I think you are right there, the coastal boom will end in tears, glad I am out now!

[Hawke]

A friend has just finished a new Beach house (very high std) at Omaha and is now selling it.
Its listed below what he was expecting to obtain.....but has not even had 1 offer.
He will struggle to fund the interest costs of 55k per year for long.

Forced/desperate sellers will be very sore as this Real Estate downturn spirals down.

Hawke.

[tim23]

Yes I reckon they will start to decline as rapidly as they climbed and that was quite spectacular!

[Dr_Who]

With high oil prices in the future, it will be very expensive to drive to the bach every weekend. Cost over $200 to do a 4-5 hour journey!

I am sure there are some very cheap beach houses for sale right now.

[redzone]

its like buying stocks....you buy the best...beach front at small popular beaches where there is limited stock....I always look at the sale records...if there has been very low turn over of sales it means the beach is a good investment..but you have to be beach front...when you come to sell there will always be someone waiting to buy in...not like the Mount where there are dozens of beach front properties for sale...and very few buyers...the price will fall...also buy where it is popular with farmers...like western bay of plenty...close to the farm...and man do they have the dosh at present...

[tim23]

Good theory but beach front in the Wairarapa is a bit slow at present even at the popular beaches.