Is leasehold ever worth it?

[Homed] Hi {NAME}, This [three-bedroom, two-bathroom corner apartment]( looks modern and tidy and you can’t beat the Parnell location. The only catch with this $1 reserve auction? The property is leasehold. Ground rent, which includes a body corporate levy, is currently $21,321.04 per annum. Another compelling thing about this auction is that the vendor is actually also going to be the auctioneer. Owner Ted Ingram has set a $1 reserve, which is either testament to his self-belief, a sign that he’s not too bothered about the sale price, or (most likely) a bit of both: Ted himself says he’s selling down his property portfolio “to cash them up and have some fun”. While that ground rent may seem high, the rental appraisal is $750 to $800 a week. Depending of course on the eventual sale price, the math doesn’t look too shabby. Earlier this month, a two-bedroom leasehold waterfront apartment in Quay Street (also for sale with a $1 reserve) [sold under the hammer]( for just $62,000. Would it work for you? This week, we’re asking our valued subscribers for their thoughts on the newsletter. If you have a minute, we’d love to [hear from you](. Happy weekend! [Kylie Klein-Nixon] Joanna Davis Homed editor [Kylie Klein-Nixon] Joanna Davis Homed editor   Enjoying this email? [Check out Stuff's other daily and weekly newsletters.](   [timer][trk_px] [timer][trk_px] opportunity knocks     [Auctioneer's own place with $1 reserve]( The three-bedroom, two-bathroom apartment is modern, and in a great location... There’s just one catch. [Read more →]( [timer][trk_px]   property to admire Treehouse 'life-changing' This architect’s own Mid-century home became the inspiration for the launch of a fashion label. [Read more →]( rallying for renters Making renting easier “Sometimes [landlords] can't say it to my face, so they'll say, 'I'm not racist (...) I just don't want loud, big families'.” [Read more →]( renovation revealed 12-year wait to renovate After six children and two decades, this beloved home has had a deserved refresh. [Read more →]( try this at home Easily unclog your sink If you have the ingredients to make cookies, then you have the skills and wherewithal to unclog a drain. [Read more →]( If you find Stuff's Homed useful and inspiring, please consider becoming a supporter. [I'd like to contribute →]( [Discover more at Homed]( You are receiving this email because you are opted in to receive the Stuff Homed newsletter. [Unsubscribe]( [Manage your profile]( [Privacy Policy]( Did a friend forward you this email? [Sign up to get the Stuff Homed newsletter in your inbox.]( Stuff, 4 Williamson Ave, Ponsonby, Auckland 1021, New Zealand [Facebook]( [Instagram]( [TikTok]( [YouTube](