The small town where $350k could get you a three-bed home (and mansions are under $550k)

You may know it as the Gumboot capital of the world, or the place you stop for the loo or a burger (Le Cafe Telephonique is worth a stop) on your way up the line, but Taihape has got a bit of a property secret.

What you may not know is that it’s also one of the few small towns left in the North Island where you can by a three-bedroom home for under $350,000.

Take the little cottage at 31 Moa St, built in 1912, for example. The vendors are seeking offers over $309,000 for this 115m², three-bed character home. Sitting on a tidy 483m² section, it’s a 15-minute walk or three-minute car ride from State Highway 1 and the centre of town.

It’s been refurbished with that character in mind. There are wooden, shiplap-style walls in native timber, tongue and groove ceilings, and original features such as the internal doors. The expensive work has already been done - the bathroom and kitchen are new.

“It's a beautiful home that’s been modernised in quite a good way,” says real estate agent Jacob Michielsen, of Property Brokers. “It's got great big, 12 foot [3.6m] ceilings, native timber throughout. It's gorgeous.”

Outside, the home, which is in the so-called “shotgun” style where the rooms lie off a single corridor that runs the length of the home, is just as characterful. A rich heritage plum colour, the entranceway has a deep-set porch with decorative beam and column.

Taihape is more affordable than a lot of places, Michielsen says, and this home is more affordable still, because the vendors are so motivated.

“Generally, a property like this would be worth around $330,000 in my opinion. But our vendors have put an offer in on another property, hence listing it at $309,000.”

Taihape is what he calls a “one-stop shop”. If you work remotely or if you're just looking for quieter kind of lifestyle, it’s an affordable place to buy.

“You've got your supermarkets, you've got everything that you need. So it's a great place to retire.”

It’s also a great place to invest long term, as there is a high demand for affordable rental properties.

While the stock tends to be a little older, there doesn’t seem to be a shortage of renovated cottages in the area.

Over on Kiwi Rd, a beautifully renovated two-bed 1910 villa, with stained glass, native timber floors and details, and a wraparound veranda with views over the town out to the rural countryside is seeking offers over $350,000.

A three-bed, 100m² vintage cottage on Kuku St, beautifully renovated to create an open plan living/kitchen/diner, with a covered courtyard, and small garden at the rear, is seeking inquiries over $280,000. Both cottages are listed with Elisabeth Bunn for Bayleys.

More substantial vintage homes can be found in the area for less than $400,000.

Listed with John Hewitt for Arizto, the four-bed home at 2 Kaka Rd has an asking price of $399,000. It has been fully renovated inside, including reconfiguring the living areas to suit modern living. Sitting on an 817m² section, the home has manicured gardens, and a wraparound veranda overlooking the town and countryside.

A similar home in Wellington, would probably cost northwards of $700,000.

Both Bunn and Michielsen acknowledge Taihape’s lower prices reflect that there are some challenges to living in a predominantly rural area.

“We're a farming service town, and we're a little bit of a hike away from Palmerston or the main hospitals,” says Bunn. “In saying that, we do have everything you need. We've got the plumbers, the electricians. We've got the big supermarket, and we do have a medical centre.”

The other thing Taihape has is a “beautiful community”, with sports clubs, social activities and events, and all-age schooling in town.

“Those that have bought here are loving it.”

Being a rural town, Taihape isn’t all about the cottages or the suburban life. For a little more than half the average asking price of a home in Auckland, you could become the owner of a two-storey, five-bed homestead set in more than 6 hectares native bush and pasture.

While it is in need of some TLC, the home at 209 Ruanui Rd is a unique offering that’s absolutely packed with character charm - just check out the deep, second-floor veranda, and unique roofline.

“It's definitely got room for a couple of horses and a little bit of bush where you could probably run some hives. You could be quite self-sufficient out there. You've got no neighbours and it's got beautiful outlook.”

Recently subdivided from the farm blocks, which have already been sold, the home will have a freehold title. For sale by deadline, which closes on October 30, Bunn expects the home to sell for around the $500,000 mark.

“It will need a 5 in front of it.”