northern beaches - sydney

[MichaelW]

I first looked at harbord and for 780k all I could get was an old 2 bedroom house small on about 400 sqm so when I saw what was on offer in newport it just seemed like awesome value.

One reason for the price differential, irrespective of the views, is that Newport is just that much further North. You're on to the Peninsula when you get past Mona Vale and that makes for a traffic bottleneck along Barrenjoey Rd in the morning for commuters heading off the Peninsula into town for work.

We're at North Narrabeen and our house would be worth about $850K but doesn't have nearly as nice a view as the one for sale in Newport that was first posted by Karina. But after discussing it with Kay we realised for quality of life we couldn't move further North until we had both quit work.

That's not too long off now so we can wait. And the fact that the commute scares most people off means prices should still be attainable in a few years time as more and more BBs downsize from their big inaccessible houses with amazing views.

Well lets hope so anyway...

Cheers,
Michael.

 

[Oscar]

Well, I did it!

Today, we are the proud owners of a beautiful home in Sybil St. Newport. The house has been magnificently improved by an architect/builder couple, who are now moving to Queensland for work reasons.

$870K has procured me a 2 level, 4 bedroom home with superb finishes and ocean outlook. Conversing with town planners today gave me a high confidence level that some excavation for a double garage or carport would be considered very favorably by council...This would add considerable value to the property.

We so liked the house we have decided to move into it and convert the current 2 homes we live in back to IP's.

About 30% of my work can be done from a home office and I travel extensively so the commute should not kill me.

When the dust settles I'll have to get that somersoft BBQ organized.

2 levels, 4 bedrooms, 630sqm of dirt, ocean views, superb reno, walk to shops/beach, 26km from CBD, potential to add still more value, all for well below $1mm - some one pinch me!!

 

[karina]

Congratulations Oscar!

Another NEWPORT convert, we'll be neighbours, be sure to send me a PM when you move in and yes we will have to organise the SIG BBQ!

 

[Jacque]

Congrats Oscar!!! Hope it all goes really well for you

 

[tropic]

Oscar,

Well done and congratulations with the purchase of the beautiful house. May it brings you lots of good times. It's a stunning property.

If you were to rent it out, how much do think you will get?

 

[XBenX]

Post some pics when it is unconditional.

As a boatie I love Newport.

Shame I work at the other side of the city.

 

[Oscar]

John C - thanks for that information. I'll definitely try that walk from Newport to Bilgola. I do the Bronte to Bondi cliff walk quite regularly now, so will be good to replace it with another. The investment was something I knew nothing about - just another bonus.

Tropic - John C's answer on the rent seems about right. This is similar to what the agent was quoting us also.

XBenX - we'll exchange contracts shortly, I think it's a done deal - I paid fair market value, the negotiation took all of about 10 minutes. I'll post pic when all sealed.

 

[Oscar]

Thanks Karina

In all the excitement of the past couple days I forgot to publicly thank the person most responsible for moving us in this direction.

I was completely focused on just a couple of areas (narra and collaroy), and have been keeping an eye on that piece of the market on and off for a significant time. That was until Karina posted that fateful link of a home in Newport indicating the kind of value obtainable just a few minutes further north. That persuaded us to take a peek in the area last weekend and after inspecting just 3 homes in the area we settled on one.

So thanks!

 

[Oscar]

And I should add that as someone with some $3MM in real estate holdings now, I'll still take a free hand whenever I can get it! I'm always so surprised by how much I don't know, the deeper I get into this game.

 

[karina]

Hey Oscar,

Its great that it all worked out for you. I really believe that Newport offers excellent value for money which is why I bought here. Out of interest can you post the property you were looking at in collaroy, would be good to see what $1million buys out that way.

 

[Oscar]

I'm too dumb to work out how to do it, but if you look for 25 collaroy st. collaroy on realestate.com.au you'll find it.

The owner knocked back $1mm offer and I did not want to offer more. The view is really just a glimpse of water and the driveway is "burdened" by virtue of the fact that you need to provide access for the subdivided block on 25A. The property sits on 400sqm of dirt. It's a great location, just a few minutes easy walk to the beach and shops/cinema.

I should also say that at least this place has a driveway and double garage...I need to "create" that in newport....

 

[tropic]

Oscar,

I don't know anything about Sydney but I can't see an ocean view on the Collaroy property.
http://www.domain.com.au/Public/PropertyDetails.aspx?adid=2006247024#

I prefer the Newport, it has a very nice view from the family/kitchen area. The house also looks nicer and has a bigger block.

 

[MichaelW]

Awesome result Oscar, well done!

Don't forget to post some pictures. I can't wait to see what it looks like. And I look forward to that BBQ. Being a local, I'll definately be up for a quick drive North and a beer and some snags.

Welcome to the Insular Peninsular!!

Cheers,
Michael.

 

[Oscar]

Newport Update

Well, it's been a couple of months since moving into sunny Newport and I must say we have not regretted it for an instant. I think it a bit gauche to post photo's of your PPOR on the internet but the original promise of the somersoft northern beaches BBQ is still on.

We walked to the beach this morning, then north onto Bilgola beach. As I type this I crane my neck right to view the sparkling pacific ocean from the study - all for well under a mill. I still think this area is insanely undervalued (or maybe I have just been a city dweller for too long). I think you guys should start buying up here and push up the prices for me now that I'm in.

Anyway, if you live close by and interested in a breakfast BBQ on a weekend drop me a PM. Nothing like talking shop over a sparkling wine and hot plate! I live just down the road from Karina and I know there are a couple of posters at least that live close by so drop me a PM if interested.

Early November would seem to be a good time.

cheers,

 

[pendo]

Hi Michael

I grew up on the Peninsula during the 60's 70's and early 80's.
My parents bought their block of land in Lower Plateau Rd Bilgola Plateau for $7500 in 1967. One of the best locations in the World by far.
I have been following your progress? I remember when I was living down there, that many developers successfully bypassed Council back then, and went straight to the LEC. I suppose you can still do that. It became a bit of a sport for people like Bill Barry-Cotter, the Mariner boat builder, and Max Delmage. It was Warringah Shire then, until Eric Green pushed for the introduction of Pittwater Council. He died soon after it came into being. Can't help thinking, that maybe.......no better not wish that on them.

 

[MichaelW]

Anyway, if you live close by and interested in a breakfast BBQ on a weekend drop me a PM. Nothing like talking shop over a sparkling wine and hot plate! I live just down the road from Karina and I know there are a couple of posters at least that live close by so drop me a PM if interested.

Early November would seem to be a good time.

Oscar,

Sounds great! PM me if we get to early November and I haven't PM'd you. I tend to get a bit busy and forget the important stuff...

Cheers mate,
Michael

 

[karina]

Hey Oscar,

Count me in as well!