Beach Boxes!

JIT

• 13th Jan, 2008

• #1

Hi there,

Does anyone here own a beach box, or considered purchasing one for lifestyle and/or investment reasons?

Would a bank lend you money for this?

Are there any particular things one should consider before purchasing a beach box?

Thanks.

 

JIT

• 13th Jan, 2008

• #2

Another thought, you could also put up a tent on a beach instead, couldn't you?

Could achieve the same thing at lower cost?

 

P

pieman

• 13th Jan, 2008

• #3

I've always loved the thought of owning one as I had an idea to put a small tinny in there and sneek out for a fish, but the last one that sold down the end of my street sold for 180k I think and they dont have power. Given that there is no rental yield it is purely lifstyle + capital growth.
I think the growth on them isnt so bad so there would probably be worse "investments" but yes the cheaper option is an umbrella. You certainly cant build a new one so its a regulated supply.
cheers
pieman

 

JIT

• 13th Jan, 2008

• #4

Also, technically I would think you only 'own' the box, not the land underneath it...?

 

sparky23

• 13th Jan, 2008

• #5

I think the CG has actually been very good on these, personally I would worry in this day and age that some young hooligan might put a match to it - can you get insurance for them?

 

BayView

• 13th Jan, 2008

• #6

I think the insurance on them is exhorbitent as well; if you can get it at all.

 

Last edited: 13th Jan, 2008

P

pieman

• 13th Jan, 2008

• #7

JIT said:

Also, technically I would think you only 'own' the box, not the land underneath it...?

Click to expand...

yes i think you're right, a lease from the commonwealth
pieman

 

JIT

• 13th Jan, 2008

• #8

A beach box would be my version of a Porsche .

 

G

gerd.

• 13th Jan, 2008

• #9

Had a look at one about 3 years ago.

Found that you are not permitted to stay in them overnight.
Can't get a loan on them.
Can't pull out capital gains.
Can't get insurance.

With that lot I can't afford one.

Gerd

 

JIT

• 14th Jan, 2008

• #10

gerd. said:

Had a look at one about 3 years ago.

Found that you are not permitted to stay in them overnight.
Can't get a loan on them.
Can't pull out capital gains.
Can't get insurance.

With that lot I can't afford one.

Gerd

Click to expand...

Thanks. If I had money to throw around maybe, but otherwise I wouldn't buy one.

 

B

Bradsdad

• 14th Jan, 2008

• #11

Here's some rules covering nearby ones. http://www.kingston.vic.gov.au/Files/Boatshed_Policy06.pdf

Finance? Not that I'm aware of and highly doubt it.

Insurance ...Not sure but if someone did it would cost an arm and a leg I'm sure. As they cannot be lived in they are permanetly untenated. A huge increase in risk for an insurer not to mention their positioning (out of sight after dark).

For $150k I'll pitch a tent on the beach for you and pull it down when your done. I'll even keep on eye on your esky for you