David Curry-Wood couldn’t believe his luck when he saw what his money could buy him in the Rotorua property market.
After years of carefully watching markets, he made the decision to sell his 1960s three-bedroom weatherboard and brick home in the Auckland suburb of Beachhaven and buy in Rotorua last November.
Curry-Wood and fiancé Louise Mccall found a 2000s two-storey, five-bedroom “top of the range” fully furnished home in Lynmore for just under $700,000.
The former teacher, who now works part-time as a bus driver, then sold his Auckland property for $905,000 which meant he could stay mortgage-free with money in the bank.
Just 10 weeks later, the Auckland home sold for $1.08 million to a phone bidder from China, which Curry-Wood said was evidence of the fast-moving pace of the Auckland property market.
It had a capital value of just $650,000.
He said he had been watching and looking at the Rotorua market for some time, but in November he could see things were on the move.
“I knew if I left it to Christmas [2015] it would have been too late.”
The Lynmore property cost less than $700,000, but Curry-Wood said a similar house on the North Shore, where they had been living, would be worth $1.3 and $1.4 million.
“We were blown away by what was available.”
Curry-Wood said they were “quite proud” of their new home and getting into the Rotorua market at the right time.
He said they chose Lynmore after careful research, including looking into schools and kindergartens for their children.
“We’ve settled down here and love it.”
He said he began looking at Rotorua as a place to live after years of holidays in the area.
“We did our research and were just amazed.”
NZ Herald: http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11704518
