Results 1 to 22 of 22

  1. Post
    #1

    Great property, quiet neighbours - namely, NZTA

    So I'm looking at a property to buy that would be affected by the proposed Woodend Bypass. NZTA own the 2 of the 3 neighbouring sections, and would end up taking a corner of this property for the bypass when they build it.

    Going by their website, the bypass has been deferred to 2028 at least, so that would work for us, this house is a big house, in 9 years time, we won't need so many bedrooms. I've looked into the Public Works Act, and it looks like they're required to fair deal with us a market valuation when they want to acquire the land (although I know there's been a bunch of kerfuffle up in Auckland around the Waterview tunnel and what market valuation to use etc.)

    My concern is, if we want to sell say 3 years before they start building. The odds of selling for a decent price with a motorway looming over it are slim, so what are the chances we can sell it to NZTA early? Anyone dealt with this before? (Could always rent it out, of course).

    I've just ordered a copy of the title and all the instruments registered against it from LINZ, so will see what's on there, but just curious if it's come up for anyone here before.

  2. Post
    #2
    I assume you are getting the house for a very good price?

  3. Post
    #3
    Unless you really love elements of your life and finances being at the whim of large cuddly entities I would avoid.

    Something less complicated will turn up.

  4. Post
    #4
    dickytim wrote:
    I assume you are getting the house for a very good price?
    The realities of it will definitely factor into the offer I make, if any.

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    mikedrop69 wrote:
    Unless you really love elements of your life and finances being at the whim of large cuddly entities I would avoid.

    Something less complicated will turn up.
    Maybe. I'm really loathe to move my kids out of their school zone, and these size houses are very rare and/or shitty mcmansions.

  5. Post
    #5
    Shitty McMansions that potentially hold better value over time though?
    Last edited by =cJ=; 30th June 2019 at 6:47 pm. Reason: Buggered off tapatalk signature

  6. Post
    #6
    Edward Diego wrote:
    The realities of it will definitely factor into the offer I make, if any.

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    Maybe. I'm really loathe to move my kids out of their school zone, and these size houses are very rare and/or shitty mcmansions.
    Do you have to change school if you move out of zone?

  7. Post
    #7
    Indigo1 wrote:
    Do you have to change school if you move out of zone?
    By the end of the school year, yep. There's no out of zone places at all, booked out for years.

  8. Post
    #8
    Edward Diego wrote:
    By the end of the school year, yep. There's no out of zone places at all, booked out for years.
    Zoning requirements only need to be met at time of enrolment. If you move out of zone post enrolment, the zoning status for those students change to "Not Applicable". Students are never forced out of a school.
    There is also no "booking" for out of zone places - they required to use a ballot system.
    (I build/t the largest student management software in use in NZ)

  9. Post
    #9
    Hmm, cheers. Good to know.

    So, our lawyer is looking at the NZTA side. Basically, we're happy to sit on the property until they need it, so long as we have a guarantee that they'll buy the whole property at market value, not just compensate for the corner they take.

  10. Post
    #10
    I used to work at AT, the incompetent organisation that it is full of morons (except WeeGee and few other people!!!) and fond of fudging numbers to get funding, to the point I went public with this info and they got a cease and desist on me, but that is another story for another day.

    Many projects required the purchase of land and from what i remember at least from AT, they where pretty loose about it, like assessing properties in bulk - finding a market price at X date and then applying a property growth stat to bring it up to the current time. However I am not sure if closer to the purchase they actually went out and got individual property valuations. On the whole given how they had an endless source of funds I think the property owners generally got a good deal.

    The only thing is this "market value". If the date at which the market value is assessed it as at a time the market is aware of the NZTA's plans then negative effect of this would already be factored in. So you kind of have to make sure you get a value relative to "what if nothing was happening at all".

    Unless you already got the property at a discounted price because of this. chicken and egg stuff.

    this was me btw
    https://www.nzherald.co.nz/nz/news/a...ectid=12158815

  11. Post
    #11
    By market value I mean RV, we're basing our offer on RV, and we'd hoped to be paid out on RV.

  12. Post
    #12
    Wouldn't worry about the school. School is what the kid makes it.
    That's why you see a lot of asian kids doing well, and others not.
    Effort.
    My son went to a not popular school, he insisted actually, mates....
    he did well. His mates did too.
    Most kids there ended p not so great.

    I'd pick a nice house, you like, that isn't going to have any issues with selling later and forget school zones

  13. Post
    #13
    Have put an offer in, but with a clause giving us 15 days to decide we're happy about the motorway and our rights. It'll obviously cost more to have our lawyer verify what those are, but worth it.

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    pctek wrote:
    I'd pick a nice house, you like, that isn't going to have any issues with selling later and forget school zones
    It's difficult with my kids, because they're all at the first school they've ever been to, with the first mates they've ever made. Homeschooling sucks, basically.

  14. Post
    #14
    I wouldn't take the chance of NZTA changing their mind and deciding they need to make the road wider or some shit and taking more of your property.

  15. Post
    #15
    stacrafty wrote:
    I used to work at AT, the incompetent organisation that it is full of morons (except WeeGee and few other people!!!) and fond of fudging numbers to get funding, to the point I went public with this info and they got a cease and desist on me, but that is another story for another day.
    Bruhhhh will have to catch up. seems to be a shakedown as always in certain areas.

  16. Post
    #16
    teelo7 wrote:
    I wouldn't take the chance of NZTA changing their mind and deciding they need to make the road wider or some shit and taking more of your property.
    We don't care if they want more of the property so long as we're happy we can sell them all of the property when they need it.

  17. Post
    #17
    Follow up on this, we paid for a specialist barrister to look into this, we're pretty damned solid when NZTA want the property, plus they contribute up to $50K for legal/moving/"inconvenience", so we ended up buying the house.

  18. Post
    #18
    When's the house warming?

  19. Post
    #19
    Denker wrote:
    Zoning requirements only need to be met at time of enrolment. If you move out of zone post enrolment, the zoning status for those students change to "Not Applicable". Students are never forced out of a school.
    There is also no "booking" for out of zone places - they required to use a ballot system.
    (I build/t the largest student management software in use in NZ)
    Hmmmmmm... First off, what you're saying is not correct at all: I know of several schools offhand for which you need to be in the zone for several years past your initial enrolment or they are able to kick you out. Which of course makes sense, otherwise every man and his dog would rent in zone for 6 months, get their kids into a great school, then move somewhere affordable for the next 4.5 years... lol


    secondly, what sms are we talking about here... tribal?

  20. Post
    #20
    swazi wrote:
    When's the house warming?
    Soon as the boomers finish digging out all their roses - was part of the sales agreement, and suits me fine, as I ****ing hate roses when gardening. Settlement date is October, so soon

  21. Post
    #21
    Edward Diego wrote:
    Settlement date is October, so soon
    GPfouramz halloween party @ ED's house?

  22. Post
    #22
    Edward Diego wrote:
    Soon as the boomers finish digging out all their roses - was part of the sales agreement, and suits me fine, as I ****ing hate roses when gardening. Settlement date is October, so soon
    That's funny

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    Edward Diego wrote:
    Soon as the boomers finish digging out all their roses - was part of the sales agreement, and suits me fine, as I ****ing hate roses when gardening. Settlement date is October, so soon
    That's funny