Just Bulldoze and Start Over!

Compared to the insanely expensive California real estate market, homes are cheap around the South Island, especially here in Dunedin. There are many factors that contribute to the housing market: the weak economy, the overall low cost of living in New Zealand, the surplus of empty homes on the market, the low-quality of construction….Of course there are some very up-market homes too, especially new houses in Queenstown, but they are generally few and far between.

What ever the reason for inexpensive real estate, its astounding to look through the property paper delivered to our home each week. $150,000 US can get you a 3 bedroom, 1 bathroom home with a 2-car garage, “rumpus” room, and incredible views, often of the ocean. Imagine the cost of that in California!

Unfortunately, many of the homes are very old and need (a lot of) work. Many ads include the words: DIY, Has Potential, Renovate, Needs Work, Rebuild, and TLC. And yes, I've even seen “ready to renovate or just bulldoze and start over.” Seems like owners just let homes go here.

I especially love the tag lines that Realtors use for each house. They must put a lot of work into creating these.

Here are some gems I found last week:

Vendor Wants Action
Renovator’s Delight
Watch the World Go By
Gilt Edged Investment
Potential Plus
Oozes Character
You Can Be Happy Here
Calling All Handymen
Honey, Stop the Car
Restore, Restore, Restore
Good Bones, Great Potential
Warm As
Bachelors/Bachelorettes: Come and Get It

And my personal favorite….

As Scarce as Hen’s Teeth