Buying another house..

[DrDee]

Looking at investing in a sea-front property on Panama Road, Mt Wellington AK. Anybody know the area? Anything I should know about?

I am reasonably new to the Auckland area so any knowledge would be appreciated :ride:

[Ixion]

Yeah, know it well. Lived around that area for 20 years, and my wife for 50 odd and her family for 150.

Panama Road has some quite nice properties down by the water. Their sale value is noticeably reduced , because there is only one road in , and between the "nice" area and the main road is a "not so nice area" that at one time had a *very* bad reputation. In fairness it doesn't seem as bad now, but the stigma lingers. There's a Black Power "base" in one of the shops down there.

You can get a nice house to live in down in the good section, but bear the above in mind if looking for capital gain.

As a rental investment, could be quite good . If you're buying away fropm the water, take a very hard look at the neighbours. There are some very good nice people down there (my wife went to school with some of them), but there are some that aren't so nice. If you know what i mean.

(SM, are you based in Harrison Road ? If so I've probably passed you quite a few times)

[Motu]

I used to know the area well too,it's a State Housing area.I went to Sylvia Park School and some kids left our classes when Panama Rd School opened.I served my time in a Garage in Carbine rd,so our residential customers were from Panama Rd and it was our test drive area,I also worked for General Foods,so yeah,know the place well.

Some of the early Headhunters came from Panama Rd so it was kinda their place back then,but I knew some of them from when they were kids,so no probs for me.The father of a well known racer in NZ (black bike) came from here too and did customising from the fibrolite shed in the back yard.Can't imagine living there myself.

[750Y]

ah! so YOU bought the tinny house huh?

[WINJA]

I THINK THAT CAN BE SOME SMART BUYING THERE , I WAS LOOKING MYSELF.
YOULL NEED A GOOD FENCE AND 2 GOOD DOGS, THAT IS A GANG INFESTED AREA BUT I THINK THE AREA WILL PICK UP, IF YOUR PATIENT IT CAN BE A WISE INVESTMENT.
HOW MUCH IS THE HOUSE? HOW MANY ROOMS ETC?
BTW GANGS DONT TEND TO SHIT IN THEIR OWN BACKYARD