BIG BLOCKS

From: Simon and Julie M


Hi all
I am intrigued when I speak to other investors that there is still so much interest in highly priced inner city new unit developments. I'm sure that the marketers are doing a fabulous job - selling the "lifestyle" image. "You will be so much happier living in a unit when you retire and in the meantime it is a great investment". The type of units I refer to are well designed with top quality inclusions - but they are still units. You only own a % of the land and often have limited control over decision making especially if it is a large block.

My question is, how many of you want to retire into a unit and if so why? How many would stay in the big house on the big inner suburban block if you could easily afford to pay for gardeners, cleaners etc.

Is unit living really an attractive "lifestyle choice" or just a clever marketing strategy?

Julie
 
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Reply: 1
From: Simon St John


Julie

I get the feeling from talking about this to older family members that they are very attracted to the message of 'easy living'. No more lawnmowing, etc......

Like you I find it interesting and wonder how many move into the 20th floor and some time after, when the view wears off, miss the smell of grass!

Just things like the grandkids not having somewhere to play, etc. and the horrible parking that usually come s with inner city living.......

I do think the marketers (like all good marketers) have tapped into a psyche and delivered up a message that strikes a chord.

Simon
 
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Reply: 1.1
From: Michele B


I think lack of privacy will start to pall - thin walls, common entries, adjoining balconies, no street frontage and a loss of identity in what I think is the 90s version of ticky-tacky housing - and maybe even the ghetto housing of the future.

michele
 
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Reply: 1.1.1
From: Dirk Diggler


Inner city units is the biggest scam going. Who would want to live smack bang in melbourne CBD for instance. Streets are full of druggies,chromers,vagrants,beggars, syringes & paraletic teenagers who have vomited on your doorstep after a night, clubbing. Please give me a quarter acre block anyday!
 
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Reply: 1.1.2
From: Rachel Freedman


Interesting topic -
My feeling is that oldies have money and still entertain, often have families interstate who want to visit and stay and that modernised houses in attractive leafy areas close to entertainment facilities (that is - what we already know to be desirable!) will also be the housing of choice for the older generation. I agree that as the older generations start to have more money they will be able to afford cleaning/gardening services as many of these people would have paid for during their lives anyway.

However - a few oldies I know do not want to stay in Sydney but want to move somewhere with good facilities within commuting distance - ie Southern Highlands or coastal areas but not those that are "retirement towns" with little infrastructure.

I personally would not live in a unit and I think that some of these people would have never lived in a unit and romanticise it and then when the reality sets in they want out but then cannot afford anything else unless they move further out.

My mother and grandmother - in law bought a place together a year ago to live and they made a point of buying a nice 4bed ensuite home and have spent money on reno and outdoor entertaining etc they defintely were not interested in a unit - they commented on the ridiculous prices being asked for new units.

Me - I think Canberra is the ideal retirement location! - with 3 months of the year in QLD and definitely not a unit!

Rachel
 
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Reply: 2
From: Kristine .


G'day Simon & Julie

Is your question directed at 'inner city units' defining these as high-rise apartments, or terrace house type rows, or clusters of units at ground level, or low-rise eg 3 storey apartments?

The CBD of Melbourne is being promoted as 'life style' but not necessarily as 'retirement' life style. RMIT for example, has some 37,000 full time students enrolled, and housing designed to meet the physical and financial needs of students has proliferated in recent years.

I was in Port Melbourne recently, and was amazed at Beacon Cove. Last time I fished off Station Pier in 1962, that was a desolate area. On that breezy mid-week afternoon, I saw lots of 50+ couples off for a walk along the foreshore. Everybody looked brisk and purposeful. Lively lot!

I will soon be involved in an integrated care development, Victoria's first, and was in Adelaide last Monday to view the prototype being built there. Let me tell you, this will beat the **** off the idea of lingering on in the 'family home' in the suburbs, making do with meals on wheels and home help, until you're so frail or confused that you can't cope any more, and you have to wait for a bed to become available, no matter how inconvenient for your family, then they have to try and sort through all your belongings, deal with the house etc. Until you've lived through that, you can't understand the stress and grief families go through helping their frail aged.

We are all very brave while we are sound in wind and limb. But what happens if you develop MS, or have a stroke, or just simply get tired? My mother was a professional gardener until she was 79, and many of her customers were prisoners in their big old houses in Ivanhoe, prisoners through lack of choice.

So while this or that may not be our personal choice at whatever stage of life we are in now, let me say I'd love a year or two overlooking the bay, and a year or two on the 17th or 27th floor, watching the city lights, I'd love sitting in Lygon Street drinking coffee, catching a tram to the theatre. I've done the acreage bit, and the suburban bit, so between here and palliative care, and with the help of the investment bit, I thank God I live in Australia, with all our wonderful freedom of choice, both physical and economic, and while I'm writing this, my imagination is thinking 'Maybe, what about the riverboat bit?'

Viva la choice!!

Kristine
 
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Reply: 2.1
From: Simon and Julie M


Kristine

My Dad does a lot of volunteer work through a well known charity. He regularly deals with aged people in their 70s, 80s and 90s many of whom live in inner city units (some on third floor, no lift) which severely restricts their lifestyle. The problem is that at this age people don't want to leave their home, whether it be a house or a unit.

I agree with you Kristine, one would hope that many more Australians will be able to afford to make choices. Try out different options so that they can see what suits them. Being astute and making wise property investment choices must make this easier.

Something I find really intriguing though is the amount of Australians in their 40 and 50s who plan to retire early. Say 55 or even earlier. My point is that many people retiring are not "old". There's a long way between 55 and 80.

Simon and I recently gave up our day jobs. Not with the intention of retiring but of exploring new options. We are having a wonderful time. I can't imagine ever retiring from work as such. Working is fun if you can choose what you work at.

Is the reality that many Australians don't really know what they want when they retire? Are they being told what they will want?

Julie
 
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Reply: 2.1.1
From: Sergey Golovin


“Is the reality that many Australians don't really know what they want when they retire? Are they being told what they will want?”

Good point Julie,

It applies to new generation as well; they simply do not know what they want.
In earlier days we had on job training and use to run around the streets, and go fishing freely, and now they seat at home and not allowed to go anywhere. You have to drive in the car them everywhere. And then we are asking why are they not buying any real estate? What's wrong with them?

Serge.
 
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Reply: 2.1.2
From: See Change


We've just bought a " Big Block " ( 3000m2 ) off a couple in their late 50's.

They've bought in the same suburb , on a small block that is on level land , single story, walk to the station.

Interesting they didn't advertise the size of our block in the adds in the paper. I asked the vendor about this and he said
" people don't want big blocks now ".

When my parents were in their 50's they moved to St Huberts island ( central Coast ) with the view to retiring there. They lasted about 5 years and have long ago moved back to the area where they have spent most of their time in Australia. They also live in a house that is walk to the station and on a smaller block. They are in there late 70's now , both drive and get to go out a lot more than I do ... My mum went on the internet about five years ago and runs her own web site. ( support group for parents with children interested in IP's ).

While some people want to move to traditional retirement places, many are wanting to stay in smaller ( though not necessarily cheaper) houses / villas / town houses in the area where they have been living their lives . This is closer to their families and friends.

see change

it's better to be guided by your dreams than your fears
 
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Reply: 2.1.2.1
From: Mark Laszczuk


Does anyone else see what's going on here? DIFFERENT PEOPLE WANT DIFFERENT THINGS. People fifty/forty/thirty/twenty years ago were asking the same questions. I reckon there will always be a demand for houses, cause some people want a house. There will always be a demand for units, cause some people want a unit. There will always be a demand for townhouses, etc etc. Get my drift?

Mark
'no hat, some cattle'
 
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BIG BLOCKS...

Reply: 2.1.1.1
From: Ross Sondergeld


Hi,


Subject: BIG BLOCKS


Well... i'm just going to add... that i've heard of a few people recently
that made easy money with big blocks.

1. Luxury home on 3 big blocks from the olden days. Then some young kid paid
$915K and everything was saying "he paid way too much". Well he outsmarted
everyone... He then pulled down the house and subdivided the blocks into 6
blocks @ $300,000 each. He made $600K after costs.

2. Property in Spring Hill in Brisbane. Home moved sideways and restumped...
land and house resold separately... buyer made $300,000.


Ahhhh... the ability to think outside the box.



Ross Sondergeld ~ Buyer Agent

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
" Imagine buying real estate the easy way...
...with a Buyer Agent on your side!!! "

Buyerside Real Estate Mobile 0412 289 464
Office 9b, 34 Glenferrie Drive Office (07) 5562 1555
East Quay Corporate Park Fax (07) 5562 1248
Robina QLD 4226, Gold Coast Buyerside@hotmail.com
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~


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BIG BLOCKS...

Reply: 2.1.1.1.1
From: Mark Laszczuk


Too true, Ross, too true. That's why some of us are richer than others.

Mark
'no hat, some cattle'
 
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