Empty nesters feel they are stuck in their oversized homes

first_imgLondon Residences at West End is tapping into the empty nest market that many developers are overlooking.A LACK of suitable alternative homes in local communities is causing empty nesters to baton down the hatches and stay in their oversized properties.Despite recent Federal Government initiatives to encourage older Australians out of their large homes to make way for young families, many are choosing to stay where they are.The Grattan Institute’s Brendan Coates and John Daley have suggested a key reason many seniors have opted to ‘age in place’ was that they were unable to find suitable alternative housing in their local communities — often established suburbs with a limited number of smaller dwellings. Ray White’s director of projects and investment sales Elisa McMahon said that it wasunderstandable that older Australians wanted to maintain family and community links intotheir retirement. Ray White’s director of projects and investment sales Elisa McMahon.“As a developer, it is important to understand what drives our communities and potentialbuyers — from location to layout,” she said.“Consequently, Brisbane developers are now actively looking at our more established suburbsas perfect locations for classically designed apartments.”Ms McMahon, who has spent two decades working in the property industry, noted that inaddition to finding the right location, potential downsizers were often concerned that theywould lose their ‘room to move’ in an apartment. London Residences at West End giving lifestyle to the empty nesters.London Residences architect Frank Ferro said that in addition to boasting house-sizedapartments, with separate dedicated storage rooms of up to 18sq m, his development reflectedthe true essence of one of Brisbane’s oldest suburbs.“We have combined innovative design with functional living to achieve spacious andenvironmentally integrated homes that reflect West End’s unique character and relaxedlifestyle,” Mr Ferro said.“The London Residences is proof that you can downsize without compromising on your space orcommunity.”center_img London Residences at West End is tapping into the empty nest market.More from newsMould, age, not enough to stop 17 bidders fighting for this home3 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor3 hours ago“There is a misconception in the market that apartment living must always equate to smallspaces and limited storage,” she said.“While this can sometimes be the case, there are many developers who understand thatdownsizing does not have to mean cramming!”Ms McMahon is involved in a number of new Brisbane projects that she said feature‘oversized’ apartments, perfect for the retiring empty nester, for example, London Residences in West End, with three-bedroom apartments up to 208sq m.last_img read more

Feel like you are in Tuscany upon entering this mega mansion

first_img12 Becker Place, Mount Ommaney.Mansions in this southeast Queensland suburb are something out of the ordinary.The latest multimillion-dollar home to be listed with NGU Real Estate Toowong’s selling agent Emil Juresic is this stunner at 12 Becker Place, Mount Ommaney.The property is in the same street as 32 Becker Place, which has a $6 million price tag.Two large balconies further add to the property’s holiday Tuscan villa vibe.The five-bedroom, five-bathroom home is a Mediterranean-inspired, three-storey grand masterpiece.Mr Juresic said: “Upon entering the home you instantly feel like you are in Tuscany, a true family home feel with open space for all to enjoy the surroundings”.“The house itself is massive and has the most amazing outlook with extensive city and river views,” he said.Perfect for a few laps, the pool area also benefits from an undercover dining spot.More from newsMould, age, not enough to stop 17 bidders fighting for this home2 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor2 hours agoAesthetics include wrought iron and terracotta tiled balconies off every bedroom, timber shutters, marble bathrooms, feature tiling and striking columns.Mr Juresic said the Tuscan villa was the ideal house for entertaining.Other features include a four-car basement, tennis court, swimming pool, cinema room, two kitchens and two offices.From court to pool in one effortless step.A timber and wrought iron staircase weaves its way between all three levels.The lower basement level offers the perfect option for extended families or when guests decide to stay.What a view.The second level is for larger groups as it includes the main kitchen and meals area, a dining room, study, two living rooms and a billiards room.The top floor has four bedrooms, three of which have an ensuite, as well as another lounge room and three balconies off either the front or rear.last_img read more

Park Hill Village launches stage two as untapped views lure buyers

first_imgPark Hill VillageHe said they were hoping to welcome the first residents into the Village by Christmas.“It has been really exciting to see Park Hill Village come to life,” Mr Infanti said.“People who come and stand in the display homes are always impressed with the size, design, and thoughtful layouts.”The four-bedroom terrace homes average 230sq m and are priced from $635,000. The three-bedroom terrace homes are 217sq m and priced from $599,000. All homes have two bathrooms, plus a powder room, double car parking, bamboo floors and Miele appliances. Park Hill VillageResidents of Park Hill Village will be able to enjoy a resort-style pool, gym, barbecue and picnic area. Mr Infanti said Park Hill Village was the right product at the right time.“It is a very desirable proposition in a quiet pocket of a well-established estate,” he said.“Park Hill Village is an opportunity to have a brand new home close to lifestyle precincts, the airport, and an easy commute to the CBD. “And they are at a price not usually seen for homes of this quality this close to the city.” Park Hill VillageSize, quality and value for money, compared to other prestige real estate in the area, had proven to be a winning formula, he said.“I think one of the reasons we have had such strong sales is that the developer built two full-size display terrace homes on site so buyers could touch and feel exactly what they were getting for their money,” Mr Infanti said.“They can feel the spaciousness, touch the finishes, see the full effect of the colour schemes and admire the amazing views. “Until people are here, I don’t think they understand the panoramic city views Murarrie lays claim to. It is one of the most elevated positions in Brisbane.”Stage two has 26 three and four-bedroom terrace homes for sale from $599,000.Mr Infanti said the sales at Park Hill Village were being driven by families and downsizers who were attracted by the size and quality fitout of the homes as well as the lifestyle facilities. More from newsMould, age, not enough to stop 17 bidders fighting for this home2 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor2 hours agocenter_img Park Hill Village is launching stage two with 26 three and four-bedroom terrace homes in Murarrie.LARGE terrace homes in one of the most elevated positions in Brisbane, are proving popular with families and downsizers at Murarrie with stage one a sell out and stage two launching to market.Developer Juxgold has construction on Park Hill Village’s 34 terrace homes for stage one well underway, and construction on stage two set to start within three months.Park Hill Village marketing manager Maurie Infanti said the large, temptingly priced terrace homes at 19 Governor Terrace, had turned heads for all the right reasons.last_img read more

Overseas based investors are selling off Queensland assets because of new taxes

first_imgThe overseas based owner of 39 San Simeon Drive, Clear Island Waters is selling off to avoid higher land tax bills.. Picture: realestate.com.auFOREIGN buyers have begun selling off their Queensland property assets following the introduction of a new tax regime.A surcharge on land tax for absentee (foreign) owners was introduced by the State Government in July. That means they are charged 1.5 per cent more land tax than Australian based owners, on property holdings with government valuations of more than $350,000. CHINESE buy 8 per cent of new homes in Queensland Andrew Henderson, principal of John Henderson Professionals Mermaid Beach, has listed three properties where he said the extra tax made the owners consider them no longer a viable investment.He said many of the foreign investors hadn’t realised they would have to pay the additional charges until they received their latest land tax bill.For some owners it could be a substantial additional cost of thousands of dollars. 38 Pintail Crescent, Burleigh Waters has been listed for sale by its Indonesia-based owner. Picture: realestate.com.auThe other property affected by the same issue was also owned by an Indonesia-based investor.The house at 134 Santa Cruz Boulevard, Clear Island Waters was listed for $899,000. It has four bedrooms and is within walking distance of the Surfers Paradise Golf Course.It is rented for $2080 a month. 134 Santa Cruz Boulevard, Clear Island Waters has also been listed for sale by its Indonesia-based owner. Picture: realestate.com.au“Regardless whether or not you support the new laws, there is no doubt it is starting to have an effect,’’ said Mr Henderson.center_img A higher land tax bill means the overseas-based owner of 39 San Simeon Drive, Clear Island Waters has decided to sell. Picture: realestate.com.au“Anything over land value of $350,000, so when you look at suburbs like Mermaid Beach your average unimproved land value is $1 million, so when you are then talking about (figures like that) it adds substantial costs to the bottom line of the holding costs of that investment property,’’ Mr Henderson said.He said some of the properties were already negatively geared and on top of rates and current land tax charges it made it unviable for the owners.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North3 hours agoNew apartments released at idyllic retirement community Samford Grove Presented by He said ultimately the people who lost out where the tenants of these properties, as it was highly likely they would sell to owner occupiers in the current market.Properties his agency had listed for sale because of the land tax issue included a four-bedroom home at 39 San Simeon Drive, Clear Island Waters. The waterfront home will be auctioned on October 29. It has views of Surfers Paradise and Broadbeach and is on 1005 sq m of land.Mr Henderson said the Singapore-based owner had decided the new land tax charges meant it was no longer a worthwhile investment for him. It has an estimated rental income of $650 a week.A property owned by an Indonesian based investor at 38 Pintail Crescent, Burleigh Waters has been listed for sale for the same reason.The three-bedroom home was tenanted for $470 a week. last_img read more

Unique Narangba home designed to captivate

first_imgThe kitchen at 17 Butleigh Ct, Narangba.The master bedroom has sliding door access to the patio. Upstairs, the home features two spacious living areas with high ceilings, and a big kitchen with coloured cabinetry. The upstairs living spaces open to the wraparound veranda, which looks out over the yard with established gardens and lawn. One of the living areas at 17 Butleigh Ct, Narangba.“So I said he had to come and design me a house.“We wanted it to be different but we wanted it to blend into the area as well.More from newsLand grab sees 12 Sandstone Lakes homesites sell in a week21 Jun 2020Tropical haven walking distance from the surf9 Oct 2019“Everything around us was old Queenslander style so that’s why we went with arched roof and the verandas.“The place is designed to be pretty open plan — upstairs is basically two interconnected pavilions.” The home has three bedrooms with built-in robes and a family bathroom with a shower over the bath on the lower level. The home at 17 Butleigh Ct, Narangba.THIS architecturally designed home is on an elevated 700sq m block.The split-level home at 17 Butleigh Ct, Narangba has plenty of indoor and outdoor living, new carpets and fresh paint.Owner Rodney Jess said the home was built 23 years ago.“It was designed by an architect from Holland who was doing stuff a bit different,” he said “I was driving around Clear Mountain when I saw this house I liked.“I knocked on the door and asked who their builder was and the man said he was actually the architect.center_img The veranda at 17 Butleigh Ct, Narangba.At the front of the home there is a double carport with two roller doors offering security. There is also a water tank and a fully-powered shed.Mr Jess said his favourite parts of the home were the veranda and the entryway. “The entry is actually a bridge — you walk in and can look up to see the roof or look downstairs.”last_img read more

Prime Surfers Paradise location is ‘irreplaceable’

first_img5 Castille Court is in original condition. On the waterfront: 5 Castille Court, Isle of Capri.He said the 789sq m fan-shaped block would provide the perfect canvas for a new build.“People can’t find new homes in these positions,” Mr Graham said.“The option is to buy the old house, design your home and have that ultimate position with your new family home.“This is a huge fan-shaped block where the water frontage (25m) is larger than the street frontage.”The highest sale on Castille Court is $2.5 million for No. 1 in 2011.Isle of Capri is home to some of the most lavish mansions on the Gold Coast, yet the locale remains largely a sleepy residential community.The island also has a solid community of young professionals and families who are attracted by the central location and Surfers Paradise State School. Would you renovate or rebuild?“It is an original house that the buyers will most probably demolish and rebuild because the position is just irreplaceable,” he said.“It comes down to the age old saying of ‘location, location, location’.”The late Kevin and Maureen Murphy bought the five-bedroom house at 5 Castille Court for $99,000 in 1976.It’s expected to sell for big bucks at auction.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North2 hours ago02:37International architect Desmond Brooks selling luxury beach villa21 hours ago“It was built in 1973 and nothing has been done to the house since then,” Mr Graham said.“It’s completely original- there’s green carpet and even a timber bar.”center_img What a position! 5 Castille Court, Isle of Capri is set to go under the hammer on December 7.LOCATION is everything in real estate and this Surfers Paradise property is testament to just that.Real Estate agent Robert Graham of Ray White Prestige Gold Coast said while the Isle of Capri house needed some work its location was what set it apart.last_img read more

Nearly $4m for this Brisbane home — and it’s not finished yet!

first_imgOne of the ensuites in one of the River Homes at Hamilton Reach.“Our buyers have recognised the rarity of the homes, the absolute premium quality of their design and inclusions and they’re keen to be part of the Hamilton Reach community.” More from newsParks and wildlife the new lust-haves post coronavirus19 hours agoNoosa’s best beachfront penthouse is about to hit the market19 hours agoOne of the plunge pools in the River Homes at Hamilton Reach.The architecturally-designed home has four bedrooms, each with ensuites, and a private plunge pool with an entertainment terrace that directly faces the water.It features nine-metre-high ceilings, an internal lift and uninterrupted views of the Brisbane River. The River Homes at Hamilton Reach have nine-metre-high ceilings.There are eight River Homes currently under construction in the development by Frasers Property Australia.The first release of four homes was brought to the market late last year and five of the total eight have now sold — all to local buyers keen to cash in on the capital growth Brisbane riverside properties generate. THINKING OF SELLING OFF-MARKET? THINK AGAIN GREEN FEATURES ADD PROPERTY VALUE DESIGNED FOR FAMILY LIFE One of the bedrooms in a River Home at Hamilton Reach.“Our preliminary research indicated that freehold properties along the river are very tightly held, so we purposely created an exclusive product that we believed would meet the needs of a discerning market,” Mr Leggatt said. One of the riverfront residences in this artist’s impression of Hamilton Reach has sold for $3.995m.AN ULTRA luxurious, three-level ‘River Home’ in Brisbane has sold for $3.995 million — and it hasn’t even been built yet.The freehold offering is one of the final four exclusive residences released as part of the Hamilton Reach masterplanned community on the Brisbane River.The sale of the property at 8/82 Parkside Circuit, Hamilton, represents the highest price paid so far for a holding in the development. GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX HERE The open-plan living space in one of the River Homes at Hamilton Reach.The home also comes with an entertainer’s kitchen featuring Miele appliances, a built-in 195 bottle wine cabinet and Zip Hydrotap with sparkling water.The master ensuite has a natural Calacatta stone feature, dual-person shower and freestanding stone bath.All of the River Homes at Hamilton Reach are free of body corporate fees, but offer access to the amenities of the development. One of the River Homes at Hamilton Reach. One of the ensuites in the River Homes at Hamilton Reach.Frasers Property Australia’s general manager of residential Queensland Cameron Leggatt said the sale of the homes highlighted the scarcity of freehold properties along Brisbane’s riverfront. The kitchen in one of the River Homes at Hamilton Reach.last_img read more