Meadow Springs - Too good to be true

[Alex P Keaton]

Thought this one was too good to be true.


Yes and as I clicked on the link I learn that its 80% share. The other 20% is owned by the Department of Housing.

 

[Alex P Keaton]

i tried to delete this thread but it wouldn't let me

.................................

delete

 

[Rixter]

I cant see much CG or CF in it

 

[lizzie]

Any suburb called "Meadow Springs" would make me run a mile. It sound like one of those poncy new names that deveopers give locals so the punters don't think they're buying into some less-than-desirable area.

Yesterday I drove past a new estate called "Notting Hill" full of big new spec home builds (flash sign at the entrance) ... get over it people ... in reality it's Thornton.

 

[redwing]

Any suburb called "Meadow Springs" would make me run a mile. It sound like one of those poncy new names that deveopers give locals so the punters don't think they're buying into some less-than-desirable area.

Yesterday I drove past a new estate called "Notting Hill" full of big new spec home builds (flash sign at the entrance) ... get over it people ... in reality it's Thornton.

Ha ha

It's actually not a bad little area, then again, we only visit down that way and don't live there

map below

 

[DaveM]

Reminds me of Mount Pleasant (now known as Cranebrook aka Crimebrook) near Penrith, a big housing commmission suburb. Did everything but live up to its name.

 

[Graemsay]

I Googled and found more on the house here:

http://www.housing.wa.gov.au/sharedstart/Pages/9-Chadwell-Close,-Meadow-Springs.aspx

Aside from some of the finishes looking cheap, I quite like the place. Though I suspect Nathan will be buying it in a few years as a burnt out shell.

I'm surprised that the agency is only taking a 20% stake. The practice in the UK is that the buyer typically buys a smaller percentage in a shared ownership scheme, and then can increase this over time.

 

[redwing]

Thought this one was too good to be true.


Yes and as I clicked on the link I learn that its 80% share. The other 20% is owned by the Department of Housing.

Eligibility CriteriaPage Content

Am I eligible?


You may be eligible for a SharedStart loan from Keystart if your answer is yes to all the following:

I cannot afford a home loan to assist with buying 100 per cent of a property regardless of proof of savings

I am a single applicant earning a maximum gross income of $70,000 per year, or

We are a couple/family earning a maximum gross income of $90,000 per year, or

I/we work in the North West of WA (above the 26th parallel) earning a maximum gross income of $110,000 per year and I/We would like to purchase a property and live in the North West area

I am a permanent resident of WA

I am 18 years of age or older

I will live in the purchased property as my principal place of residence for the life of the SharedStart loan.

 

[RumpledElf]

Sounds like a low income housing scheme, to get the battlers into their own houses.

We have a loan from the SA version. They do some quite strange stuff in these 'interesting' loans. Our payments are set at a fraction of our income and index by CPI each year.

 

[Nemo30]

Any suburb called "Meadow Springs" would make me run a mile.QUOTE]

I live in a subdivision called 'The Meadows'

 

[Rixter]

Any suburb called "Meadow Springs" would make me run a mile.

You reckon that's bad...imagine telling people you live Innalloo or Upper Swan.

 

[Fifth]

Any suburb called "Meadow Springs" would make me run a mile.

Likewise. New estates with the words 'meadow(s)', 'spring(s)' or 'lake(s)' conjure an image of homogenous McMansions surrounding a rather sad-looking man-made body of water. On the plus side, there's usually an 'exclusive country club' and, um, a mall.

 

[Ergophobia]

Meadow Springs has one of the most beautiful golf courses in the world

http://www.msgcc.com.au/