Own your own pensioner units
The scheme | Units for sale |
Applications
The scheme
The Own Your Own (OYO) is a scheme operated by us. It allows
you to purchase the council owned units at a discount
which is normally 80 per cent of the market value.
You must generally:
- be 65 years or older
- be receiving national superannuation
- be buying the unit for your own use.
The unit must be in your name
(or a Family Trust) and cannot be sublet to anyone else. Generally speaking
there should be no mortgage over the property.
The legal costs
associated with our preparation of various documents is payable by you on
settlement. These are typically $450-$500.
We have the right
to buy back the unit if you wish to move, or in the event of your death. The buy back price is 80
per cent of the market value at that time. This means that you benefit from most of the capital gain in the
value of the unit.
These particular units
are on a cross-lease title, meaning you own your particular unit, and share the
grounds and parking area with other residents.
There is an individual
title for each unit.
As the
owner of the unit, you can decorate it to suit your own requirements. You will
need to meet the cost of any renovations, and obtain any relevant permits (if
required). In addition, you will bear the cost of maintenance - just the same as owning any home.
The residents
generally share the cost of lawnmowing, making this a very modest cost
for each resident. Typically one of the residents takes responsibility for
organising this and collecting everyone's share. You would be responsible for
the garden area around your own unit.
Water rates are separate for most of the units. The units at New Windsor Road and Tripoli Road are on shared meters, but the water
company sends each unit owner an individual account.
Units for sale
The following units are for sale:
- Unit 11, 14-16 New Windsor Road, Avondale
- Units 4 and 5, 1 Coyle Street, Sandringham
- Unit 3, 3 Coyle Street, Sandringham
- Unit 5, 7 Coyle Street, Sandringham
- Units 1 and 6, 19 Coyle Street, Sandringham
- Units 6 and 9, 113 Trafalgar Street, Onehunga
- 19 Tripoli Road, Panmure
- Units 53 and 56, 7 Rowlands Avenue, Mt Wellington
Applications
You must complete an application form to register interest. You can:
To
view PDFs download Acrobat Reader from the
Adobe
website. Further
help on how
to view PDFs.
We will assess your application and inform you of the outcome and, if you
qualify, we will invite
you to view the units.
Updated October 2008
