Block NZ judge: ‘It’s quite scary’
THE Block NZ might have ended fairly chaotically for the contestants earlier this month, when only two of the four couples met their homes’ reserves, but celebrity judge and interior designer Shelley Ferguson has shown how making money out of properties takes a serious amount of bravery.
In an interview on Stuff today and ahead of launching a book on tips to renovate for profit, she reveals how – together with Team New Zealand husband Steve – she’s invested in a leaky home in the leafy Auckland suburb of Westmere.
Despite the idea of a leaky home sparking fear into most homeowners, Ferguson says they were careful to do their sums, working out how much they would pay for the home (land value only); what they would spend to renovate; what they could potentially sell it for, and how much profit they could make.
‘‘There is a fantastic gain in there should we want to sell,’’ she says. ‘‘I don’t want to be doing too much in this market,’’ Ferguson says. ‘‘It’s quite scary. We were on the lookout for somewhere we won’t want to move from in a hurry. The idea is to stay here; at present it’s ideal for the family and good for both of us workwise.’’