Finding an affordable property is tough – but there are still some gems out there. Each week, Homed features a first-in-the-market buyer-friendly home that might (just about) be on budget.
What if I told you there was a two bedroom house, minutes from Wellington, with private front and rear gardens, separate garage and period features, in perfect condition, on the market for less than $600,000?
Add to that off-street parking for three cars and a 10-minute walk from Upper Hutt station, and you’ll be looking forward to checking it out, right?
With banks demanding larger deposits and fluctuating interest rates, it’s difficult for first-time buyers to enter the market at the moment, but smaller units offer some options.
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The “hiccup” is that this unit is on a cross lease – it’s a 70’s semi-detached unit, in a group of four.
“You just need a two bedroom to climb the ladder. If you have a garage, bonus. Private garden, bonus. This one has it all,” says real estate agent Russell Oliver of Tall Poppywhich markets the unit in Ebdentown, Upper Hutt.
“Everything is original, there was only one owner. They have preserved it beautifully.”
An estate sale, the family put a new roof on the unit and garage, as well as insulating the basement and ceiling.
It needs some sanding and painting of the window joinery, and it could do with an update in the bathroom and bedrooms, but other than that it’s pretty good tidied up,” the agent said.
The kitchen tiles, rimu kitchen cabinets, and set of rimu and glass sliding doors that separate the living room from the kitchen-dining room are very retro, but we think they’re pretty cool.
The property also shares a border with the Upper Hutt Bowling Club, so there are no neighbors on one side.
As a first home, it’s ideal, says Oliver. A couple, or a single person with a roommate to help pay the mortgage, could “go to the trouble” to pay it off, and “then that could be the deposit for the next one.”
In the meantime, they have a low-maintenance home close to all amenities — a seven-minute walk to the Monterey movie theater and Upper Hutt shopping district, and a 20-minute walk to Brewtown, to boot.
Upper Hutt only pumps in terms of work and leisure opportunities. The Hutt River Walkway, numerous city parks, and Kaitoke Regional Park and its campgrounds with trails and hikes are all a short drive away.
“We have the [Lane Street] the opening of the studios and the former Wallaceville research center which will become a new business center. We have Brewtown. We have the new sports arena and indoor training facility that will host the Phoenix, Hurricanes and all visiting foreign teams. The list keeps growing.”
If you are working in Wellington or Hutt City, the train journey to Waterloo Interchange is 15 minutes and Wellington 35 minutes during peak hours.
The seller is looking for requests over $565,000 for this 70 m², brick house. The 2019 RV costs $390,000, however, Homes.co.nz estimates it to be worth around $605,000. The average for Ebdentown is around $855,000. The house would likely be under the First Home Grant ceiling.
There are three upcoming open houses, at 2 p.m. on the next three Sundays.