How do you get that dream beachside property????

How about finding someone that wants to live in a similar property with a similar purchase price. You get them to buy the house YOU want, and you buy the house THEY want. Then you can rent each others property. You get the dream house you were after costing you significantly less with tax deductions/rent on the house you bought for the other person. Oh course the hardest thing would be to find someone willing and working out the deal that was neutral. But as with most of the wealthy people, they don't own anything they just control it.

Or you can just do an "exchange" on the living arrangements. Was investigating this avenue to cut down on buying and selling costs, agents fees, CGT implications..etc.. but there just wasn't sufficient demand or people who are on our same wavelength and don't act like sheeps.

There are websites that do house swaps but thats mainly for holiday lettings and only short term. The longer term ones seems to only be DOH types which I'm sure not too many home owners would want to swap for.

If someone can get the message out to the general public that something like this is available and has nutted out the processes, options, legals..etc.. I'll be the first to sign up. Imagine saving $60-$80k on buying and selling costs when you can simply swap places. Use the savings and additional equity for the new place as a deposit for another IP. Legal ownership is a terribly expensive cost when the end result can be similarly achieved, cheaply.
 
So a question to all the creative/creative minded people here

Im sure many of us, including myself one day wish to own their exclusive beachside property, and I mean BEACHSIDE, so you can basically jump off your balcony and into the water ie be the first house from the beach. basically a toy house, just like a toy car= Ferrari, impractical, expensive does the same things as something thats worth 1/2 of it

now, we we all understand that these sort of properties are few and far and even in the crappier suburbs, they still fetch over $1m+

Now, personally, I would like to have one of these properties so I can visit there on hot days and sit on the beach or on your balcony looking over the beach, and yes, I do enjoy the "W*&K" factor of having that beachside property or posh property, however, on a personal note, I would rather not have it at all in these suburbs if say I was going to get a dump of a property that has no views or you can';t walk to the beach or its impossible/impractical to get there, in other words, I would rather have nothing in this area if I can't have this dream beachside property, and instead of owning one of these and one the assumption I am financially sufficient, I would simply rent out one of these for the weekend, and have a party and invite all my friends.

so what are some techniques that the people can use to get one of these, or eventually get one of these. and Id like to have mine as close to the city as possible, so not 3-6 hours drive out....

my only suggestion is,
1. I went through aspendale today, and thought how nice the beaches were, there was a lot of people, the beachside properties are selling for between 1.3-$2million, however, there were a few 3bdr apartments, that were quite nice that I would be happy with, these were about $780k, so do I purchase one of these, and attempt to rent it out as holiday accomodation, so hopefully. I get the 5-6 % yield????? or if the property cannot be rented out at a great enough rent or period of the year, it would be silly to hold onto a property that is simply costing you and not generating ongoing income, unless you have bucket loads of $$$ to throw away, or you really really really want it, now for me $780k is far more affordable to most compared to $1.3-2.0million

2. Go to the closest to the city suburb with beaches, that has no interest and nothing, and I mean ZILCH, buy all the beachside land which will be cheap because nobody wants it, and start building and prey to god that there is a mini boom in that area

3.
Buy a big block of land on the beachside in the premium suburbs (probably cost $2m -$5m), subdivide ,and do plans for however many apartments you can fit on there, build, make $$$, and keep the smalles/cheapest one for yourself.

so what can those who are in the process of working towards financial freedom do instead of paying say $5million+ at the end of their property cycle in 5, 10, 15, 20, 30, 40 years time?

NOTE: The above is not finacial advice and should not be taken as it is most likely CR4PPY advice, and you will lose!

If you are prepared, next 3-5 years will be the best time to move into these properties at bargain price.
 
Only because no one rented it or your maintenance and expenses were too high. Plus theres the wear and tear to contend with also from weekenders. If you don't need the $, might be worth considering weekly rentals only or exhorbitant weekend rates to get the right clientale.

We looked in to renting our PPoR as a holiday rental while we were in the USA.

We live in a popular tourist destination on the Mornington Peninsula, and our house is perfect for the double-family accommodation scenario, bay views, close to the beach, shops etc.

Bottom line was we were only going to get about 12 weeks a year of serious interest, the management fees were 18%, cleaning costs, and there were numerous other little things we needed for it that basically meant; bad investment with little returns.

We went for the permanent tenant instead; far less weekly rent, but more in the long run.

Many people do the holiday letting thing to get some extra cash to help pay off the mortgage on their holiday house. It ends up being small change as they want to use it themselves when the interest is at it's highest, they don't always get bookings when it's available, and so on.
 
Ok, so ive spent a few days on a few different beaches over the past couple of days due to the weather, must say it was pretty hot..

anyways, maybe for the experts, a question for you,

what is the cheapest, town house / new unit that is actually on the beach,

ie, balcony with the beach view and no other properties in between.

ANY surburb in victoria, with a population more then 1

so not a undeveloped piece of land with absolutely no access to,

ie I was in a nice beachside suburb, and the houses around the area are about $300k, however, the cheapest beachside one was $1mil, and increasing up 3.3mill!!! which was a bit of shock
 
I went through this thought process many years ago.
I was looking at spending $5-600k for an apartment with harbour views, with the prospect of one day owning it outright.
Like you, I was not interested in getting something ok, it was what I wanted, or nothing.

The alternative was buying 4-5 houses in the suburbs and one day owning them outright also.

After many months of looking around I decided that down the track I'd rather have the 5-6 freestanding houses paying rent than one small apartment with harbour views.
To be noted that at the time holiday rentals were very few.

So many years later (now) the situation would be ~52k yr ebit. And assets that are easy to borrow against.
So I'd still have many options available to me.

What most people dont consider for those type of properties is upkeep & maintenance. How much does it cost to keep a 3mil property looking like $3mil?
My guess is probly the same amount it costs to rent a house in the suburbs. So tag that onto the 52k, and I would likely be able to rent a nice serviced apartment (with 24/7 concierge), or buy a nice unit on the beach with all being attended to, leaving me to enjoy the view with family & guests.


btw at least your honest about the reasons, most would not be so candid and make some nicer sounding ones.
 
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How about this ... I would buy it but I don't have a spare 800k :p . The suburb isn't exactly glamourous, but you just have to wonder what a similar property in a different locations would fetch (ie. A clifftop mansion in Portsea). The house is atrocious (though in good condition), I mean seriously, I can't believe how badly some properties are designed!! The house just doesn't seem to be built with any consideration for the view at all, the one window you can see the ocean out of has plants growing directly outside obscuring the view, and the pool is out the back!! Why wouldn't you set the whole thing up so that while you're lounging in your pool at the front of your house while gazing at the ocean?! STUPID!!!


Anyway, I just imagine demolishing this place and building a nice luxury double story to take in the view. Close to Geelong, maybe rent it out to some Ford executives or something before retiring there in your twilight years:p???

http://www.realestate.com.au/cgi-bi...r=&cc=&c=52310228&s=vic&snf=rbs&tm=1233460482

What might this be worth in 10-20 years time with a nice house on it?? "Cliff top mansions" go for $10m+ now down at Portsea don't they??
 
How about this ... I would buy it but I don't have a spare 800k :p . The suburb isn't exactly glamourous, but you just have to wonder what a similar property in a different locations would fetch (ie. A clifftop mansion in Portsea). The house is atrocious (though in good condition), I mean seriously, I can't believe how badly some properties are designed!! The house just doesn't seem to be built with any consideration for the view at all, the one window you can see the ocean out of has plants growing directly outside obscuring the view, and the pool is out the back!! Why wouldn't you set the whole thing up so that while you're lounging in your pool at the front of your house while gazing at the ocean?! STUPID!!!


Anyway, I just imagine demolishing this place and building a nice luxury double story to take in the view. Close to Geelong, maybe rent it out to some Ford executives or something before retiring there in your twilight years:p???

http://www.realestate.com.au/cgi-bi...r=&cc=&c=52310228&s=vic&snf=rbs&tm=1233460482

What might this be worth in 10-20 years time with a nice house on it?? "Cliff top mansions" go for $10m+ now down at Portsea don't they??



wow,

i must admit, this looks nice, are you familiar with this one, I couldn't 100% tell but does it have beach side views or like a balcony or similar.

for $800k, it looks really good, and I really like it!!!!!

are there many of these around??
 
wow,

i must admit, this looks nice, are you familiar with this one, I couldn't 100% tell but does it have beach side views or like a balcony or similar.

for $800k, it looks really good, and I really like it!!!!!

are there many of these around??

No not really familiar, just found it on the net. I don't think there are many properties around like this at all. Quite a few on the waterfront (ie. across the road from the beach) in surrounding areas like St. Andrews etc, but this does have that little air of exclusivity to it, the whole "clifftop" thing going on. As I said, the suburb of Clifton Springs doesn't exactly have a glamorous reputation, but location location location! Would be a great base for anyone working in geelong, even close enough to commute to melbourne.
 
if your ready to retire try one of these spots:

Both in Tassie..i just came back from holidays there at Xmas.

Boat Harbour Beach (absolutely beautiful beach like nth qld)

Shearwater....Terrific place to retire...10 min from devenport airport...property still relatively cheap..

i intend to retrire at one of those places down the track..but alas by then the places will have expolded..
 
if your ready to retire try one of these spots:

Both in Tassie..i just came back from holidays there at Xmas.

Boat Harbour Beach (absolutely beautiful beach like nth qld)

Shearwater....Terrific place to retire...10 min from devenport airport...property still relatively cheap..

i intend to retrire at one of those places down the track..but alas by then the places will have expolded..

"Boat Harbour Beach"

I was looking thorugh,thinking "hey for $500-$600k" it looks alright!

that is until I found this one

http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=30751119&s=tas&tm=1233577340

Shearwater is around $800k for the beach side....

sigh, still up there in price though..
 
"Boat Harbour Beach"

I was looking thorugh,thinking "hey for $500-$600k" it looks alright!

that is until I found this one

http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=30751119&s=tas&tm=1233577340

Shearwater is around $800k for the beach side....

sigh, still up there in price though..

that house is way overvalued and a bad example actually.....i spent over a week there, got to chat to the locals..theres plenty of bargains around but many are not listed with agents....some terrific housing blocks with old shacks on them, beach front land around $400K...knock down the house and build your retirement house.....easy under $700K in tassies heated market...well under $600k when the market cools off im quite sure..

tassie housing has just peaked....better buys coming around the corner...
 
that house is way overvalued and a bad example actually.....i spent over a week there, got to chat to the locals..theres plenty of bargains around but many are not listed with agents....some terrific housing blocks with old shacks on them, beach front land around $400K...knock down the house and build your retirement house.....easy under $700K in tassies heated market...well under $600k when the market cools off im quite sure..

tassie housing has just peaked....better buys coming around the corner...

Hope so!!!

if secluded beach properties in remote Tas are going for $1m plus, doesn't give me much hope...
 
I have a beach house up the Peninsular way. It's not a clifftop property but it is a (new) home away from home.

So I stayed up there after the new year and I go to this secluded beach in Portsea to swim and work on my tan. Now those properties backing onto the beach are truly amazing. Now lets get onto the people that own said properties.
Here I was sun baking and drinking a beer from my cooler when the sound of a helicopter starts. I happen to be right in front of that house and the chopper has gone to Melbourne and back within the hour to pick someone up. Then the hired help transports said person by golf buggy to the main house.
The owner of said property is Lindsay Fox. His boat house alone puts most Melbourne properties to shame. His house is ok, but the house next door and the house next door to that is much, much newer and stunning. They also have a huge pipe running down the cliff into the ocean for their clifftop salt water pools.
Linsday Fox's grandson I think dumped the jetski into the water courtesy of the tractor that the trailer was attached to. Reveresed it out of the boat shed a couple of meters. Those sort of houses on Point King road have their own jetty and have always been mega expensive. Just more so now with property prices jumping through the roof throughout Melbourne.
Bottom line is, forget clifftop property especially in Portsea and Sorrento unless a) you have inherited the property (old money) but then you would be used to the finer things in life thanks to the grandparents and parents.
b) Unless you are an entrepreneur and have succeeded in life (like Lindsay Fox).

Until then, we can only dream....
 
Minx......

I fit into neither.....

thanks for ruining it for me:D:D:D

Hey PM, if you want a nice home not far from the beach, with a bit of land and excellent Bay and City Views for under $800k, talk to me.

We will be selling ours in Dromana later this year so we can commence building for the new PPoR across the road.

It's not clifftop, and it's not the house directly across the road from the beach (wouldn't want one of those anyway; no privacy, lots of noise, constant salt and grime on the windows to get rid of).
 

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I'm looking at a block at the moment to build my PPOR which is 5 houses up from the beach in Jindalee north of Perth. Price is 385k for an elevated level retained 669 square metre block. I estimate this price is down by at least 200k on what it would have been for sale for 12 months ago. Same blocks in Burns Beach a similar development about 5km south are 700k plus. We did not dream we could build a PPOR in such a position for a few years in the future but due to the down turn in the economy this opportunity has arisen. It's just a question of getting all the negative thoughts out of my head and doing it!.

I have put a link below. The block is down by the last street light towards the sea.

http://www.thewest.com.au/default.aspx?MenuID=3&ContentID=121772
 
beachside overseas?

Property meister: you could devote your whole life trying to buy that dream home by the water. Is it worthwhile? If the beach floats your boat, might it not be cheaper to buy something overseas and relocate there? Obviously you'd want to buy in a country with strong property rights - many overseas countries do not give foreigners permanent freehold.

PS. I'd recommend my favourite location in Melb but you already know where that is
 
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