asdf, from Somerley Estate it’s about 20-25mins up the coast via wanneroo road – though this is because you have to cut back inland then go up…
once marmion ave is in it will be 10-15mins…
btw, are investors noticing an increase in deposit amounts? I have a block in Somerley on hold and it’s a $2k deposit – compared to brighton being %500 deposit…
I’ve lived up in the northern suburbs all my life… Ausprop, and any others investors up that way – I believe you will do very well.
Where those blocks are positioned is directly behind one of the nicest lagoons, and coastal spots along the coast! I believe this is quite a unique opportunity…
I’ve mentioned this before, though with personally knowing some of the management team behind this development – they will definitely do a good job of the estate. This is evident in the covenants and strict development guidelines.
Take a look further down the coast – Jindalee especially – compare the prices… once marmion ave is in Jindalee will be 10mins away…
I feel this area will attract a lot of cashed up “baby boomers†– along with families looking to escape the suburban sprawl going up the coast.
To give you an idea of potential growth – I bought a block in ocean lagoon estate for $180k in May – now worth $220k… my parents got another in ocean lagoon for $110k 2 years ago – now worth $210k + – and this is without marmion ave being completed!
I may sound biased, though believe me if I had the cash I’d be up their straight away!
It’s a PPOR, though every property is an investment to me:)
But, yes we will be living in it for bout 4-5 yrs so it will be our PPOR.
for a 14m frontage block their asking $126k, 16m blocks are $138k +!! It’s getting a little over price – and the annoying thing is, is the size of the blocks. Most blocks in our price range are 10m-14m frontage which seems too small for the “traditional / cheaper” home designs.
You can get a cheaper cottage block, though you then end up spending more for a “cottage house” design.
Does any one know of a house design for under 110k that can fit on a 14m block? I’ve been looking at blue print homes – though they require 16m + frontage.
I have one block on hold now, though have to decide by sat morning…
I lived in my parent’s house for a while and they have a colourbond roof.
We would constantly get woken up with the rain hitting the roof. We would also have to turn up the TV when it rained!
Colourbond isn’t good for installing air con units either, as instead of removing a couple of tiles for the unit; they have to cut a hole through the colourbond sheeting. When getting air con quotes this was one of the things they asked, as I think they charge a little more for colourbond installations.
Also if you’re into renos, or running additional powerpoints and telephone points tiles make it much an easier job to run the cables. You can simply push back a tile that’s above the power point and drop a cable down, instead of having to crawl through the cobweb infested roof.
Saying that though, I do like the look of some of the new colourbond roofs – though for my next house I’m choosing tiles over colourbond.
The builders we have been speaking to, actually charge more for tiles – with colourbond being the cheaper alternative.
i actually built the website, along with the interactive map… we got the original artwork from the surveyors – then we imported it into a web graphics program called “flashâ€.
I shouldn’t really go into it to much, though I’ve got a feeling that the area in front of singleton beach will be released very soon (wink, wink;)
If you’re interested it’s probably worth calling Bruce and having a chat to him about the future releases. I’ve seen copies of the stage maps so I doubt they will be far off from being released…. Though I didn’t say that:)
Even though Bayshore Garden’s lacks in their marketing and promotional material – I feel their land is better positioned….
With the commitment of over $10M of land sales in their first release, I believe they will start to move quite fast up there… they now have the cash to back their promises.
The main key is Marmion Ave – once this is through things will really start to happen!!
Dunno if anyone read about the $150M commitment from industry interests… though I’ve heard one of the businesses is bunnings – which apparently will be there by 2007…
Thanks for that:) To be upfront the Property For Sale site has been hard to get off the groud as the market is VERY competitive – though we’ve had alot of interest in our HolidayHomesWA.com.au portal – we now have over 350 listings!
I’m from Perth (northern suburbs). My first IP i bought 3 years ago is +CF, thugh it’s real hard to find one now in the mertro market. I would recommend looking in regional areas too…
like dazzling said, it depends on your situation… you can make money in perth by other means…though it comes back to what you want to achieve, and what resources you have available.
$7,000 would be able to buy you all materials and plants for both the front and backyard – the only thing that’s going to cost a fair bit is the labour!
When doing that reno in merriwa the retic and the paving was the most expensive part.
When installing retic it cost me about $700-$800 for the parts – then you need a plumber to put a main value on the mains (should cost about $110). However, you’re probably looking at a 3-4 days labour to put this in…
I got all the plants for the front and back for about $1,400. Got alot of plants and palms out of the quokka – there’s heaps of people that grow all different kinds of plants from their backyards then sell them at discounted rates…
I’m in a similar situation to you… i bough t my first IP at 19, now have 2 IPs and 50% of 2 blocks in yanchep. I’ve seen many great opportunities go past and haven’t been able to act on them, purely because the bank won’t lend me any more:( Unfortunately for me it’s bit of a waiting game for the CG before I can invest anymore!
It sounds like you have a fair bit of equity behind you… though what is your financial goal? Your investment technique is dependant on whether you want to create cashflow, or whether you’re in for the quick CG?
You could look at starting up a few House and Land packages and selling them off, or if you are looking to acquiring a lot of cash flow properties by buying interstate, or overseas…
Well I guess I’m partially involved:) I 50% own 2 blocks in the ocean lagoon estate, one which I got 2.5yrs back, and another this year.
However, saying that I actually tried to raise the finance to get a block in the new Capricorn village release – though my finance was deniedïŒ Therefore you can say that I’m slightly jealous of the people that did pick up one of these blocks, and slightly frustrated that I wasn’t able to get one!
My personal opinion is that I believe Yanchep / Two rocks has a lot of potential!!! Once Marmion Ave is in (supposed to be starting early next year) things will really start to move.
Also, by personally knowing the developers behind this release I believe they will produce and excellent estate, and will do wonders for the area.
hey voigtstr, I’m in I.T too – it’s not that bad:) It takes a motivated and tolerant person to be on a helpdesk – you should pat ya self on the back! I know I couldn’t do that job!
To add to this post – I was recently talking to a mate of mine who is working in the mines up north – he’s making a lot of money, and paying a lot of tax!
I said “why don’t you consider investing in real-estate, etc, etcâ€â€¦ his reply was that he does not want all the stress – he just wants to own his own house, spend time with his wife and have a nice car…
He then said – “how can you sleep at night being 24 yrs old and having so much debt?â€. I thought it doesn’t bother me one bit – and replied I actually have a good feeling when I go to bed, as I know that every day that goes past my properties are all increasing in value, creating more wealth, and allowing me to do much more in life than work 9-5 everyday!
I have another mate that things wonders of what I have done from scratch… he’s amazed at how people can do it and is now looking at getting his own IP!
At the end of the day, I think it comes down to the individual’s mindset – some people see real estate as a big, stressful venture and their defence is to be negative towards people involved in it.