Susan Richards, at 63, had hoped to be in her new Pine Harbour townhouse by now, preparing for retirement and thinking of ways to enjoy her idyllic spot by the sea.
The dream has gone now with news the development she’d signed up for isn’t going ahead.
What it means instead is that Sue will have to work a few extra years to cover the cost blow-out while she tries to find a new home.
She was meant to be moving in January which would have meant a nearly-mortgage free Sue would have been shelling out $150 a week for her new place. With that dashed, she instead is eating her reserves with rent of $400 per week.
While she has her name down for a new townhouse development in the area, the cost and time to build will erode her savings even further.
“I’ve put my name down (for a new townhouse). It hasn’t even gone on the market,” she told the Times.
“It could be another 12 months before they’ve finished.”
She believes she can still achieve her goal. “I basically was going to be freehold…now at my age… She’ll now have to cough up another $90,000 for a total of $785,000.
“I had a certain amount I’d put aside for retirement – it’s been gobbled up. “Instead of retiring in two or three years, that will be pushed out until I’m 70.”
A friend of hers who was also registered for a townhouse was unlikely now to be able to afford to buy. The Times was unable to contact her.
Meanwhile, many attempts to contact the developer Simon Male of Pine Harbour Holdings proved fruitless.
In the course of investigation, Pine Harbour Marina Limited made it clear it was unrelated to the developer.
“Pine Harbour Marina Limited has no affiliation with Simon Male, and the land company you are referring to, Pine Harbour Holdings,” Karina Smith said.
“Pine Harbour Marina was sold by Pine Harbour Holdings to a private owner over two years ago. We have forwarded your emails to Pine Harbour Holdings.”
Stu East, the general manager of Mike Greer Homes (MGH) South Auckland Limited, expressed frustration the project is not going ahead.
“MGH are very disappointed that the developer has been unable to conclude the Resource Consents for a the eight units on Seventh View Avenue,” Mr East said. “Unfortunately MGH has no option but to cancel contracts and refund deposits, these arrangements have been implemented.
“We understand the significant disappointment associated by not being able to proceed with the purchase of a new home and to the extent that we can offer alternative locations or properties, then MGH will make every effort to do so.”
What do you think? Email nick@times.co.nz
