Her previous partners had never wanted to get into property investment. But in 2015 Carol-Anne took her financial future into her own hands when she purchased a dual-key apartment at Du Val Group’s iconic Lakewood Plaza in Manukau.
“I bought a dual-key, having in mind renting the studio as an extra income. I’ve always owned my own home, but the partners I’ve always been with have never really wanted to get into an investment property.”
Carol-Anne purchased her first apartment at Du Val Group’s Lakewood Plaza in 2014 and is now looking to her second investment at McKenzie Terraces
The dual-key apartment Carol-Anne purchased is one of 91 at the 14-storey Lakewood Plaza, and it’s an investment opportunity unlike many others in New Zealand’s property market. The apartments include a separate studio apartment adjoined by a small hallway, under a single unit title. The dual-keys have been a hit with Lakewood buyers, providing the opportunity to create rental income whilst still occupying their own apartment.
The dual-key will be Carol-Anne’s first apartment purchase, and after years of owning standalone homes it represents a vast change in lifestyle for her. She’s looking forward to the change though, saying that maintaining her standalone home became too much effort.
“It [buying an apartment] never really crossed my mind before. But then when I was by myself, I had to do my own lawns, my own gardens and everything and I thought, “I don’t really need to be doing this now.” I did all that when I was younger, did renovations and all that and I don’t need to do that anymore.”
In addition to the reduced need for maintenance, downsizing from her three-bedroom home to a one-bedroom apartment comes with many other benefits. The Lakewood Plaza, due to be completed in Q3 2019, includes a restaurant, bar and a state-of-the-art health and fitness centre within which you’ll find a gym, spa, sauna and indoor pool. Situated in the heart of Manukau City Centre, residents of the Lakewood will also gain easy access to Manukau’s growing retail offering. Manukau City Centre saw a spend of $249.6million in the fourth quarter of 2018 - the highest among its competing retail centres Botany, Mount Wellington/Sylvia Park and Westgate.
For Carol-Anne, this dual-key apartment represents the start of her journey towards a comfortable retirement.
"I want to live comfortably in retirement so that's what I'd be investing for. So that I don't have to live on national Super, so that I can live quite comfortably and still have my overseas holiday once a year, and not have to think too much about whether I'm buying a new top or nail polish."
Carol-Anne is now looking to her next investment with the Du Val Group at McKenzie Terraces in Māngere Bridge. She says the reasons she has chosen to continue her investment journey with Du Val is the wrap-around services provided and the trust.
“I like that there’s the whole package at Du Val. I’ve come to see them for financial planning and advice, I’ve been to some of the different evenings done around investments, there’s just a whole team that are there to support you with whatever you want in the way of buying property and investment property.”
I think it’s just a trust thing with Du Val. You go to other places and you’re like, “oh I don’t really know if I trust this investment.” You know? But here I feel that what you say you’re going to do, you do.”
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