Five under $500,000 - October 4, 2019
With historic low interest rates now enticing buyers to shop for new digs, this might be a great time to strike. But lower interest rates can also increase activity, which means more competition. Even though there’s renewed optimism in the market, you still want to make sure you’re making a wise long-term investment. Low interest rates alone aren’t a reason to rush into making a purchase. Still, there’s some good stock up for grabs if you’re ready to buy. Let’s take a look at what’s on offer.
61 Marana Drive, Bakers Beach, Tasmania
If you’re looking for a shack to turn into a holiday escape or Airbnb investment, this could be the one. The three-bedroom mudbrick and timber home, going for $380,000, is hidden in a coastal bush environment and has eclectic design accents at every turn: woodfire heating, Pipers River slate flooring, stained glass windows, a double garage and a workshop. It’s begging for some quaint country retreat styling. It’s close to Devonport and a reasonable commute from Launceston, but with solar power, water tanks and bore water, you might be tempted to settle into the off-grid life.
7/145 Ormond Road, Elwood, Melbourne
In the past we’ve highlighted the risks of buying a one-bedroom apartment. If it’s too small, you might struggle to get a loan, or sell it later. But, if you secure a one-bedder designed with a clever use of space that is set apart from others in the market, you could be on to a reasonably priced winner. Take this place in Elwood. For starters, it’s in the historic Broadway Theatre Apartments, opened as a cinema in 1919 and later converted into a ballroom before being refurbished as residential homes. History and character create appeal. It’s also a light, loft-style space, the dual-level floorplan makes it different to a pokey studio. Priced at $410,000 to $450,000, it’s worth a look.
147 Edward Street, Orange, NSW
While Orange is too far from Sydney to commute, there’s lots happening here. Industries such as healthcare and retail are thriving, so it cold be a good place to consider investing. Take this semi-detached double brick cottage. It has high ceilings, a sweet verandah, three bedrooms with built-in robes, a double garage and outdoor entertaining area. Bonus points: it’s an easy walk to restaurants and pubs in town. Priced at $429,000, it could be a great first investment.
38 Coral Vine Cross, Cowaramup, WA
How does life in an architecturally-designed container-style home float your boat? This one-bedder could be one hell of an Airbnb investment, or perhaps a home if you’re got a lifestyle that lends itself to a move to Margaret River. Having said that, you might be able to find a home with more bedroom for the listed price point of $399,000, so shop around. Perhaps it inspires you to find an affordable piece of land and build your own container.
10 Ansell Street, Semaphore, Adelaide
Once again, we’re considering relocating to Adelaide after spotting this absolute charmer in a bayside suburb of Adelaide. Here, you’ll get this renovated single fronted cottage built in 1910 for circa $490,000. WHAT? It has a wide entry hallway, two bedrooms, polished floorboards, built-in robes, outdoor entertaining area and a garden shed. It’s also just one block from the beach. Just imagine what this would set you back in St Kilda.