First-home gambles post-shake
Young people in Kaiko¯ura are snapping up quake-damaged houses at bargain prices, and landing first homes beyond anything they had imagined.
Two years on from the 7.8-magnitude earthquake, many houses still need repairs, tradies are stretched thin and seasonal workers are living in caravans and buses due to a housing shortage.
But Kaiko¯ura man Johnny Clark and other first-home buyers have found opportunity amid the upheaval, in the form of cheap property and motivated sellers.
Clark, who took over his father’s takeaway joint Nin’s Bin last year, said he bought his first home at about half its pre-quake value.
‘‘Our house got bowled in the earthquake, it got wrecked. I was living in town in a caravan for nine months, while I was fishing. It was just horrible in the winter, the curtains would freeze to the windows, it was horrible,’’ Clark said.
Then he learnt the Muir family wanted to sell their earthquake-damaged property, famed for the huge chasms that ripped through the garden.
‘‘It had just a wee bit of damage to the foundations, and all the cladding had to come off. There were big cracks in the land though, big step ladders we call them,’’ Clark said. ‘‘It was pretty cheap and it meant I could move out of the caravan so that was good. It’s a beautiful house.’’
One of Clark’s friends also bought a quake-damaged house at about half its prequake value.
‘‘He did all right out of it, it’s a nice place,’’ Clark said.
‘‘He’s got four bedrooms, it’s got a pool. He got quite a good deal. I’ve got quite a few mates looking at buying property now.’’
But the houses were uninsured when Clark and his mate bought them.
‘‘It’s not insured yet, but it’s getting there. It’s a bit of a gamble because if you have another earthquake, you’re buggered really.’’