Post by GO30 on Apr 14, 2024 13:03:39 GMT 12
D2 has been house shopping and in doing so proved beyond doubt there is no housing crisis in NZ. Anyway I got all the paperwork to suss on one and it was like a time capsule showing how things have changed over 43 years.
The house, a pretty average 4 beddy, was on the market for 825K, had a CV of 860K and it sold for 750K.
It was built by Award homes in 1980 for the huge sum is $39,000. It has a PC sum of $130 to install a shower if the owners wanted and a PC of $400 to cover the new owners kitchen appliance desires.
And check out this chart of Building Permit costs. It maxs out at 260K
They had a Plumbing Inspection, that cost $35.
They had to get a Drainage Permit, that cost $25
Footpath damage deposit was $100, which they got back.
The building permit cost was $141 plus a $40 Building Research levy so $181 all up.
Today Auckland Shity Council wants you to pay $125 per hour just to speak to a nothing level with less decision making capability than the tea lady numpty.
Kids were renting and due to come up for a suss so I suggested go shopping. They said 'No way could they affourd to do that', I said 'Go have a look' and they did. 2 x 23yo with a 8 month old both in OK jobs that don't pay that awesome. When I put the squeeze on them a week ago about finding a place they were tossing up between 4 or 5 options, all sub 825K. Most were freshly renovated with decent sized yards, some sub devisable, but they settled on the 4 beddy as it has very solid bones and is very much still in the 80's so they can tickle it up over time and add value. It's out west, a 40min drive from Devo, which coincidently is the exact same time it took me to get the 9km from Devo to Wairau Valley last week due to the council inspired congestion. The bank took 5 days to pre approve them.
Yet this morning a mates 28yo and partner, both big earners, were in near tears at how the boomers have fucked them over into being rent slaves for the rest of their life. They are looking for a nothing needs doing spacious 3-4 beds with 4 car garaging in Mt Eden/Ponsonby sort of an area.
There is no housing crisis, just a crisis of unrealistic expectations.