Five under $500,000 - summer shack edition
Some people make new year’s resolutions, but around here, we make new property goals. At this time of year, we inevitably find ourselves longing for a regional shack to make relaxed creative magic in. And, wow, we’re kicking off 2019 with some absolute crackers.
If you, like us, dream of a reclusive shack, have a look at these sensational options. But, keep in mind, each lender has a specific criteria when it comes to providing a regional property loan. In some states there are plenty of incentives to go bush. However, if your dream holiday house is too far off-the-grid, the bank might ask you to jump extra hurdles and insist you to pay a deposit of more than 20 per cent to protect the risk, for example.
When it comes to random regional investments, it’s worth talking to a mortgage broker to see what the criteria looks like before you make an offer. Plus, if you buy regional, there are additional considerations, like fire and flood, so your insurance on a property can be costly. Nonetheless, get your eyeballs around these bargain shacks. Race you to the hammock...
97 Skyline Road, Bend of Islands, Victoria
Who knew Victoria even had a suburb called Bend of Islands? Not us. But a quick Google shows this place is not too far from the idyllic Yarra Valley, so if you dig days of wine tastings, you’ll be in your element. And if you’d rather stay home and chill, you’re set, too. You’ll need a bit of skill to see the potential here. A flick through the photos reveals a lot of shit the vendors need to get rid of, but that’s their issue. When you take possession it’s a blank canvas in the middle of the bush and you can do whatever you like with it. At $245,000 it’s a bloody bargain. If you don’t snap it up, we will.
Section 560 Government Road, Keyneton, SA
Yeah, that’s an uninhabitable stone ruin, but it’s beautiful, and there’s a shed that you could perhaps make liveable. Whatever, it’s on 80-acres. Build something new and enjoy the serenity. It has views of the Barossa Ranges, a dam, native trees, rare peppermint gums and a hell of a lot of peace and quiet. At $239,500, it seems like a good deal to us. But you know the drill, do your due diligence. We’ll be here, wistfully lusting after it in the meantime.
2 Greenway Avenue, Mannering, NSW
In NSW, it doesn’t get much better than the Central Coast. This whole area is going off, thanks to prices in Sydney. Even with price drops, you ain’t getting a three-bedroom home like this for less than $500,000 in the city. At $400,000 - $440-000, it looks like awesome value. It’s close to the Lake Macquarie waterfront, has timber floors, a covered entertaining area and lock-up garage. New year, new lifestyle? Sign. Us. Up.
56 Forrest Road, Margaret River, WA
This feels like the right year to move to Margaret River. Here you can get a magnificent cottage for $495,000 and you’re a short stumble from some of the best wineries in the country. Plus, you get cathedral ceilings, fireplaces, open-plan living spaces and an additional art studio. Yes, please. Put some cosy chairs on that front deck and make your mates comes to you.
134 Duggans North Road, Fumina, Victoria
Oh, we’d give up our rental kingdom for this humble escape. Gotta love this gorgeous little mud brick thing, with its chalet-style timber interior, just 30-kilometres from Mount Baw Baw. It’s on 27-acres and the asking price is a glorious $290,000-$325,000. In winter, Airbnb-ers could fork out a fortune for this two-bedroom gem, if you style it with some Instagramable ski shack furniture. Whatever the season, it’s the perfect spot to retreat from the world.
Happy 2019, new home-buyers!