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  1. Post
    #1

    Wellington Kiwibuild things to consider?

    The first Wellington Kiwibuild options are coming up https://www.monark.co.nz/

    Does anyone have any insight or opinions on things that I would need to consider?
    I've attached some of the provided information. I'm finding it much more difficult to figure everything out when you can't actually see the apartments.

    Kiwi Build Apartment Floor plans and location within building.pdf
    Monark Specifications KiwiBuild.pdf
    Monark_Images.pdf
    Monark_Proposed Budget.pdf
    Monark_Residential Brochure.pdf

  2. Post
    #2
    Subscribing cause relevant to my interests.

  3. Post
    #3
    I guess the main thing to consider is are you happy to buy a property that you won't see until it is built (at which point it will be to late).

    The building will be 100% code so not earthquake prone and there should be no weather tightness issues (haven't heard of newer buildings having these issues).

    The location is good but also close to a university so there is a chance you end up living in close proximity to noisy students.

  4. Post
    #4
    Plenty of new buildings have weathertightness issues. however you can't really do much about it till it's built.

    Main thing is, is it really any cheaper? Does your bank lend on apartments at the correct deposit percentage? most banks require 25% on apartments.

    And what does the contract for purchase say in terms of buyout, resale, company collapse, cost over runs etc.

    Kiwibuild makes not a lot of difference, more important things are the contracts

  5. Post
    #5
    looks decent

    no mention of a carpark though and without those it's a waste of time


    you might also need to consider body corporate or other fees like that, also things like fibre into the rooms which doesn't seem to be mentioned.

    edit: also seems you have to pay your own water rates - da ****

  6. Post
    #6
    Abo wrote:

    no mention of a carpark though and without those it's a waste of time

    are you serious mate? What sort of world do you live in? Let alone have you ever lived in Wellington?

  7. Post
    #7
    I did wonder about parking, I guess when on a budget there isn't the money to build some underground parking. Suits people without cars I guess... I assume they exist. No idea where i'd put our five vehicles.

    One thing I did notice was the heating is via a wall heater, not even a heatpump. Did I misread that? No air conditioning.

  8. Post
    #8
    fatesjester wrote:
    are you serious mate? What sort of world do you live in? Let alone have you ever lived in Wellington?
    yes i live in wellington

    the public transport IS good but it can't do everything, and trying to find on street parking in that part of town will be impossible though I assume there's probably an expensive wilsons parking building you can park your car in, if you are buying a place to live in just because you don't have a car now doesn't mean you won't want one in ~20 years especially if you have kids - if you are planning on just renting it out then doesn't matter



    Fragluton wrote:
    I did wonder about parking, I guess when on a budget there isn't the money to build some underground parking. Suits people without cars I guess... I assume they exist. No idea where i'd put our five vehicles.

    One thing I did notice was the heating is via a wall heater, not even a heatpump. Did I misread that? No air conditioning.
    didn't even notice that - if that's the case then lol.

  9. Post
    #9
    Fragluton wrote:
    One thing I did notice was the heating is via a wall heater, not even a heatpump. Did I misread that? No air conditioning.
    You can't get AC in apartments in Welly, trust me I spent 6 months trying to find a unit with it. Something everyone just overlooks until the middle of ****ing summer. Everyone is so focused on dry and warm, they're forgetting the planet is getting hotter and there needs to be some focus on keeping it cool too.

    Look at how much the likes of France is suffering at the moment with the massive heat wave. They never normally get that hot so there is no AC in the country and it's all going to hell... Welly will go the same way in 10 years!

    Even new builds I tried talking to the developers and getting a unit installed, never made any progress.

    A car park in an apartment building will sell for about $100k. So, do you really want to add that amount just so you can park your car? Most people don't.

  10. Post
    #10
    Well that is going to be pleasant!

  11. Post
    #11
    Anyone get one? I joined the ballot but was unsuccessful which I'm not disappointed tbh. Pretty 50/50 about them.

  12. Post
    #12
    $100,000 for a car park, or $1200 for an e scooter

  13. Post
    #13
    I'd need four parks, starts to get uneconomical.

  14. Post
    #14
    LSOHTFAL wrote:
    Anyone get one? I joined the ballot but was unsuccessful which I'm not disappointed tbh. Pretty 50/50 about them.
    I was also unsuccessful and not too fussed either. I didn't think they were much cheaper than the other apartments in the building considering they were facing the east.

  15. Post
    #15
    LSOHTFAL wrote:
    Anyone get one? I joined the ballot but was unsuccessful which I'm not disappointed tbh. Pretty 50/50 about them.
    I decided against it purely for visitor parking reasons.

  16. Post
    #16
    Looks like the redrawing process has begun. More rejection emails for individual apartments. I would withdraw my ballot entries as I'm not interested anymore but I'm quite interested to see if some get redrawn multiple times.