Gold Coasters are snapping up a new Mermaid Beach development, Otto

first_imgOTTO Mermaid Beach“Those purchasers who having gained equity over the years in their established properties further inland, would prefer a lifestyle closer to the beach with excellent walkability,” he said. OTTO Mermaid BeachMorris Property Group principal Barry Morris said many buyers were drawn to the project due its boutique size, resort standard facilities and proximity to the beach. Render of OTTO Mermaid BeachGOLD COASTERS have rallied behind the new OTTO Mermaid Beach development with 20 apartments sold since its launch in February.OTTO Mermaid Beach is a $44 million eight-storey project comprising 70 two and three-bedroom apartments. OTTO Mermaid BeachThe development is 300m from the beach and offers high-end features and luxury finishes. Resident facilities include a pool, gym and alfresco barbecue area and terrace.CBRE Residential Projects on the Coast director Nick Clydsdale said many buyers were looking for a beachside lifestyle with a mother and daughter among the latest to purchase apartments in OTTO.center_img OTTO Mermaid BeachHe also tipped more first home buyers to purchase an apartment at Otto and take advantage of the State Government’s boosted Homeowners Grant before it expires on June 30. Prices start from $499,900 to $769,900 with some apartments offering two car parks. Body corporate rates are about $72 to $98 per week.Construction on OTTO Mermaid Beach is expected to start later this year. OTTO Mermaid BeachMore from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North8 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day agoMr Clydsdale said the pair were typical of the buyer profile purchasing in OTTO.“(It’s) those looking to move closer to the beach without breaking the bank or compromising on quality, space and amenity,” he said.Mr Clydsdale predicted OTTO Mermaid Beach to become increasingly popular with existing Gold Coast residents. He said it was the rise of the “coastal upgraders” which was a modern twist on the seachange term.last_img read more

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Seven tips for buying off-the-plan

first_imgOff-the-plan investors should apply these top tips to mitigate the risks and boost the upside potential. Photo: Glenn HuntForearmed is the way to go if you’re considering an off-the-plan investment in these trying times for attached housing.The signs have been bad for this sector of late, with the concept of oversupply looming large, but off-the-plan properties are still finding eager buyers, and not all are bad investments.Off-the-plan can apply to low-rise suburban units, townhouses, detached dwellings and prestige owner-occupier apartments too, and the rules around each are similar.To help, Patrick Nolan, head of Home Loans at ME Bank, has compiled some top tips to ensure your off-the-plan dream doesn’t become a nightmare. 1. Timing is everything “In a rising market, buying off-the-plan can be a masterstroke,” Mr Nolan said.“You’re committing to a property at today’s prices and, if all goes well, by the time the development is completed the place will have risen in value providing a rapid capital gain.”Of course, if your timing is like that of a lousy conductor, your real estate symphony can collapse into the financial pit.“If values weaken, off-the-plan buyers can be left paying more for the property than necessary,” Mr Nolan said.“The only way to avoid this downside is by thoroughly researching the market to make an assessment of how it is likely to behave. Bear in mind, the longer the time to completion, the harder it is to estimate how property values will move.” 2. Use your time wisely Buying off the plan effectively means a very long settlement. Use this time to build up your war chest, said Mr Nolan.“A 10 per cent deposit will usually secure an off-the-plan property. “Once this is paid, off-the-plan buyers have a window of opportunity to ramp up personal savings and this can mean taking out a smaller home loan with less to repay each month.”Just remember — the keys are discipline and planning. 3. Check the specs While at the end of the transaction you will own a tangible piece of real estate, in the beginning you are making big decisions based on the specifications.“Buying off-the-plan means committing to a property you cannot physically inspect, and the display suite could differ in layout, size and finishes from the apartment you’re signing up for,” Mr Nolan said.He said carefully check the specs outlined in the sale contract because there are no guarantees they’ll match those in the marketing material.“Ask lots of questions about finishes and fittings like blinds, curtains, tiles and carpets to get a clear idea of what you’re buying,” he adds.Remember you’re also purchasing aspect and view, so pay careful attention to the physical location of your property and the surrounding land uses that may affect it. 4. Have the contract independently reviewed. More from newsMould, age, not enough to stop 17 bidders fighting for this home5 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor5 hours agoIt’s the bedrock agreement parties refer to — particularly when there’s a dispute. Make sure yours is watertight and you are well across all the clauses — particularly those that could put you at a disadvantage.“Resist the urge to sign on the dotted line until you’ve had the contract of sale thoroughly checked by a solicitor or conveyancer,” Mr Nolan said.“Off-the-plan contracts are usually more complex than for established homes — often with clauses that favour the developer. Your legal adviser can explain any clauses of concern.” 5. Look to the future “On a property that hasn’t even seen the excavators arrive, you could be looking at an extended time to completion,” Mr Nolan said.Life can change dramatically over these time frames. Try as much as possible to factor future life changes into your purchasing decision.“Even if you no longer want the property, you’re still committed to buying it, and bailing out can be costly,” he said. 6. Go with a reputable developer One of the best ways to avoid heartache is to make sure your dealing with someone with a history of delivering on their word, Mr Nolan said.“Opting for properties backed by an established developer with a blue chip reputation doesn’t just make it more likely the end product will be high quality. If the developer becomes insolvent at any stage during construction, you’ll be in a long line of other creditors trying to get your money back,” he said.“Sticking to reputable developers also provides the opportunity to check out completed developments by the same company to see how well they have stood the test of time.” 7. Size matters Until such time as we Aussies become akin to living in tiny spaces like New Yorkers, you must remember there are logistic hurdles with too-small units.“Many lenders shy away from, or ask for a bigger deposit on, very small apartments — typically studio units with less than 50 square metres of floor space,” My Nolan said.This includes purpose-built housing such as student apartments which can be both tiny and subject to special lease terms or management agreements.“The key is to speak with your lender before you start looking at off-the-plan properties to know whether the type of apartment you’re considering falls outside normal lending conditions,” he said.last_img read more

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Triple M’s Lauren Fitch is parting with her childhood home surrounded by wildlife

first_img41 Oppermann Drive, Ormeau.Triple M’s super sales agent Lauren Fitch is sadly waving goodbye to her family home at Ormeau.The glamorous account manager has been commuting from 41 Oppermann Drive to the radio station’s headquarters at North Quay on and off for the past six years. Lauren Fitch“It’s an easy commute and it is worth it, as I love that house,” Ms Fitch said.Her parents, Robyn and Julian, purchased the elevated five-bedroom property at auction around 17 years ago.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North8 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day ago41 Oppermann Drive, Ormeau.“I have moved rooms three times because there’s so many,” Ms Fitch joked.“The view from the deck is amazing, so is the space for all my clothes.”Ms Fitch has relocated a number of times but has always enjoyed returning to her family’s hilltop retreat.“I’ve moved back home three times now,” she laughed. 41 Oppermann Drive, Ormeau.“It’s a bit sad knowing I won’t have that option in the future.”The two-storey sprawling home offers a spectacular 180-degree view over cane fields to North Stradbroke Island.It’s listed for sale with NGU Real Estate’s Drs Paul and Amy Howe.“The construction is of an extraordinarily high standard that you just don’t see these days,” Dr Paul Howe said.“Its location is also a wonderful plus as it’s surrounded by acreage properties, yet access to the M1 and Brisbane’s CBD or Gold Coast beaches is extremely convenient.”The home is described by Dr Howe as a grand Federation home.The property oozes character with its vaulted ceilings in the entrance, gold taps, picture rails, ornate cornices, ceiling rosettes and intrically laid Italian tiles.last_img read more

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First homebuyer rush to secure $20,000 grant by June 30

first_imgBeau and partner Lucy who are first home buyers. Time is running our to secure the $20,000 first homeowners grant which will revert back to $15,000 on July 1.IT’S a race to the finish line for first home buyers looking to secure the $20,000 Queensland First Home Owners’ Grant, which has assisted more than 250 locals since July 1.The popular building grant will be cut by $5000 on June 30, reverting back to its original sum of $15,000.So far, 258 first home buyers in Townsville have successfully applied for the grant, which has helped inject close to $5.2 million into local building and construction.With 512 dwellings approved by Townsville City Council between July, 2016, and April this year, first homeowners accounted for more than half of all new builds.Statewide, there have been 4100 grants approved, totalling $82.5 million, with Townsville figures accounting for 6.3 per cent of approved applicants.With 85 dwelling approvals between July and April this year, North Shore attracted the largest number of first home buyers. North Shore project director Andrew Astorquia said the last few months had been particularly busy.“We’ve noticed a big increase in first home buyers, more than last year, who realise that going from $15,000 to $20,000 makes a huge difference when buying a home.“Most of us don’t have a spare $5000.“There’s no doubt the grant has helped more first home buyers get their foot through the door.“I think it’s also important to note that the grant not only helped keep people in Townsville but keeps our builders and tradies working.”Townsville soldier Beau Gordon and wife Lucy are among the 258 Townsville locals spurred on by the $20,000 Queensland First Home Owners’ Grant.More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020“This is my second posting to Townsville and we decided that we wanted to own our own home, instead of renting,” Mr Gordon said.“We wanted to have a house we could come back to and live in if I get posted to Townsville again or leave the army. “Finance definitely played a part in actually getting the house sooner rather than later and the $20,000 grant definitely helped. With the grant reverting back to $15,000, we didn’t want to risk it.”Townsville MP Scott Stewart said the grant had helped keep the region’s building and construction industry afloat.“It’s hard to know what will happen after June 30, whether there will be the same uptake but with so many jobs on the horizon for us and all the green shoots we’re going to see, there’s no doubt that it will positively affect our building and construction industry well into the future,” Mr Stewart said.With just over a month left till the June 30 deadline, Mr Astorquia said it was not too late to secure the $20,000 grant.“All you need is a signed land and building contract which can be done overnight,” he said.“Of course those contracts are subject to finance so you have to make sure they are approved by the bank.“But besides that, it’s a pretty quick process.“So even though there are only few days left, you absolutely can still get it done and get approval before June 30.”last_img read more

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Bidding tussle for post war house with bay view

first_imgThe home at 27 Petersen St, Wynnum.A  POST war home with bay views has sold under the hammer in Wynnum. Nina Adams of Century 21 Adams and Costello said the property at 27 Petersen St sold for $696,000 after a “short and sweet” auction on June 10. “There was a good crowd of about 60-odd people and there were four registered bidders,” she said. The auction began with an opening bid of $600,000. Three of the registered bidders actively vied for the two-bedroom home and the property was called on the market at $685,000. Ms Adams said there was a “bit of a tussle” towards the end between bidders but it was a local buyer who proved successful. More from newsCrowd expected as mega estate goes under the hammer7 Aug 2020Hard work, resourcefulness and $17k bring old Ipswich home back to life20 Apr 2020The Wynnum agent said the new owners would leave the home as is for the time being but planned to knock down the post-war house some time in the future to build their dream retirement home. “The property attracted a lot of interest because it was on a good size block on the top of a hill,” she said. “You would have a view of the bay if you were to build a highset house.” Ms Adams said the Wynnum market was performing well at present. “There are multiple buyers for good quality properties,” she said. “Even at the lower end of the market, we are seeing buyers. We’ve recently sold several properties under $500,000 quite quickly. “Buyers are mainly people looking for a house to live in. The lifestyle (on offer in Wynnum) is the big attraction.”last_img read more

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Amazing Hamptons design proves a perfect fit for this beachside Gold Coast suburb

first_imgVilla One, 7 Adams Ave, Miami.The newly built property in Miami oozes crisp beachside decor with hardwood floors. Stylish lighting and a sleek stone island kitchen combine with a wine storage for the ultimate luxury living. With four bedrooms and a childrens retreat the property is perfect for families who want to live by the sea. The property is a stroll from the beach, surf club, local shops, cafes and scenic parkland, while also close to The Paddock Bakery, quality schools, Burleigh Heads Beach and Gold Coast Highway. Villa One, 7 Adams Ave, Miami.IF you’re looking for a home by the sea with a Hamptons design then this is the one for you.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North4 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day agoDesigned to feel like a spacious home, open the door to this Villa to a contemporary Cape Cod aesthetic across an open plan design with seamless flow to a private outdoor entertaining sanctuary. Villa One, 7 Adams Ave, Miami.last_img read more

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Queensland has the cheapest rental houses and units in Australia

first_imgFor just $140 a week youcan rent a two-bedroom unit atBarney Point with this view. Picture: realestate.com.auQUEENSLAND won the award for the cheapest rental houses and units in the country this year.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach Northless than 1 hour agoNew apartments released at idyllic retirement community Samford Grove Presented by At a cost of $150 per week, Barney Point in Gladstone and Blackall tie for the cheapest rental houses in Australia, while units in South Gladstone and Clinton were the least expensive to rent at $120 a week.The latest CoreLogic Best of the Best report revealed where rents where lowest in Australia and Queensland came out on top.It also looked at the suburbs which offered the best returns for investors.The report found Ipswich houses offered some of the best rental yields in the state, with Tivoli houses generating a gross rental yield of 6.2 per cent.The Cairns region had the best rental yields for units, with Port Douglas recording the highest gross rental yield for apartments in Australia at 9.3 per cent, followed by Manunda at 9 per cent.last_img read more

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