Hey everyone,
So here is a bit of background information before I ask your advice:
I have just bought a 1 level 4bed 2bath 2car 22sq house and land package in Hope Island on the Gold Coast for a fixed price of $473,000 minus the 17 grand first home buyers + QLD Boost. (Pretty annoyed that GCCC and Councillor's decided against the +8k for new builds on the coast haha, wouldnt 25k off be a nice present).
The house doesn't begin construction until early next year and than the plan is to live in the house for 6 months and then rent it out as an investment property.
The house has great design and is within a masterplanned community with its own private marina (3 nautical miles to sea) + surrounded by 3 golf courses, + tennis courts, restaurants, shops, medical centre, etc.
I think one of the biggest selling points is that the property is selling a lifestyle.
And although Hope Island has predominantly been an area with more expensive homes (900k+) and had an older demographic - it is currently becoming more popular for young families and people wanting to be part of the "lifestyle" due to housing prices being as low as under 500k.
Another point to note is there is quite a bit of demand for low set homes in the area as the older demographics prefer these.
So here is the main question:
The opportunity to purchase your own private marina on a 99 year lease is expected to come about over the next 12-24 months. Starting prices are at 40k - not sure about size but I would guess at least 5-6m. There are to be 99 marinas released for the masterplanned community where there is planned to be over 600 houses and 300 apartments.
Do you guys think it would be worth to buy a marina for 40k and rent it with the house and raise the rent? Because if there are only 99 marinas and over 900 households it might have a fair bit of demand?
The trick is you can only own a marina if you own a property in the master planned community and it can only be leased to someone living within the master planned community.
So I guess even if the person who rented my house didn't want it I may be able to find someone else in the area that wants to lease it.
I might have just rambled on and not explained things very well - but do people think it would also be a good investment to buy one of these 99 year lease marinas for 40k?
To buy a waterfront house in hope island is at least 700-800k (at least!). So wouldn't owning a marina berth and house for roughly 496k be a cheaper way to offer the boaties lifestyle? Would this be a good investment to pursue?
So here is a bit of background information before I ask your advice:
I have just bought a 1 level 4bed 2bath 2car 22sq house and land package in Hope Island on the Gold Coast for a fixed price of $473,000 minus the 17 grand first home buyers + QLD Boost. (Pretty annoyed that GCCC and Councillor's decided against the +8k for new builds on the coast haha, wouldnt 25k off be a nice present).
The house doesn't begin construction until early next year and than the plan is to live in the house for 6 months and then rent it out as an investment property.
The house has great design and is within a masterplanned community with its own private marina (3 nautical miles to sea) + surrounded by 3 golf courses, + tennis courts, restaurants, shops, medical centre, etc.
I think one of the biggest selling points is that the property is selling a lifestyle.
And although Hope Island has predominantly been an area with more expensive homes (900k+) and had an older demographic - it is currently becoming more popular for young families and people wanting to be part of the "lifestyle" due to housing prices being as low as under 500k.
Another point to note is there is quite a bit of demand for low set homes in the area as the older demographics prefer these.
So here is the main question:
The opportunity to purchase your own private marina on a 99 year lease is expected to come about over the next 12-24 months. Starting prices are at 40k - not sure about size but I would guess at least 5-6m. There are to be 99 marinas released for the masterplanned community where there is planned to be over 600 houses and 300 apartments.
Do you guys think it would be worth to buy a marina for 40k and rent it with the house and raise the rent? Because if there are only 99 marinas and over 900 households it might have a fair bit of demand?
The trick is you can only own a marina if you own a property in the master planned community and it can only be leased to someone living within the master planned community.
So I guess even if the person who rented my house didn't want it I may be able to find someone else in the area that wants to lease it.
I might have just rambled on and not explained things very well - but do people think it would also be a good investment to buy one of these 99 year lease marinas for 40k?
To buy a waterfront house in hope island is at least 700-800k (at least!). So wouldn't owning a marina berth and house for roughly 496k be a cheaper way to offer the boaties lifestyle? Would this be a good investment to pursue?