Welcome Guest [Log In] [Register]


Reply
  • Pages:
  • 1
Young couple buy their first home splashing out $3.75 million for a five-bedroom mansion in Sydney; Making it happen
Topic Started: 11 Jul 2017, 11:20 AM (1,848 Views)
Bardon
Default APF Avatar


These kids know how to work the magic pudding alright, and a record sale to the seller, wealth creation through application and best of all win win.

Young couple buy their first home by splashing out $3.75 million for a five-bedroom mansion in Sydney - and here's how you can do it too

The couple in their 30s leveraged equity from a Melbourne investment property
They were looking to buy in the suburb of St Ives, which has seen rising prices
The brand new five bedroom house was rebuilt and finished in December 2016
New street record for Warrimoo Avenue was set by the sale price of $3.75million


A couple in their 30s have leveraged the equity on an investment property in Melbourne to buy a brand new multi-million dollar first home.
They bought the newly built five-bedroom house in Sydney's leafy Upper North Shore suburb of St Ives for $3.75 million, setting a new street record.

Aged in their 30s, the young couple are living with parents in the nearby suburb of Pymble, and were seeking a new home in St Ives.
The ultra-modern dwelling was rebuilt and sold by an Australian-Chinese family who had originally planned to live in the house, Realestate.com.au reported.

Rising property prices in the area proved too much of a temptation, however, and the couple decided to sell and move to a more convenient area.
They bought the property for $1.1 million in 2014, making a tidy profit in just three years.

St Ives has long been a popular suburb for families seeking large blocks and 98 Warrimoo Avenue was notable for being one of the few newly-built homes for sale.
'New houses for sale are becoming quite unique now, as developers are now finding the land prices [to be] too high, combined with the building and holding costs of property,' Savills Cordeau Marshall selling agent Coco Cui Roskam said.

She said the sale was evidence of strong prices in the area, being on a 930sqm block, whereas high sales nearby have all been on land parcels 1100sqm and above.
The median house price in St Ives is now $1,950,000, with a 12-month growth rate of over 10 per cent.
The Warrimoo Avenue home, which surpassed the previous record sale price of $3million in 2015, has five large bedrooms spread over two levels.
It has an extensive open-plan living room, dining room and kitchen, and even features a home theatre.


Read more: http://www.dailymail.co.uk/news/article-4681072/Young-couple-buy-3-75million-St-Ives-mansion-Sydney.html#ixzz4mTgA81w5
Follow us: @MailOnline on Twitter | DailyMail on Facebook
Edited by Bardon, 11 Jul 2017, 11:21 AM.
Profile "REPLY WITH QUOTE" Go to top
 
Tyson
Default APF Avatar


That's the trick to moving into a great first home in my opinion.

Live as cheap as possible (in their case with their parents), buy investment property and then eventually leverage it to buy something nice.

As opposed to slowly climbing up the property ladder by buying something cheap and slowly upgrading.
Profile "REPLY WITH QUOTE" Go to top
 
Ex BP Golly
Member Avatar


Pretty soon they can leverage up the $3m+ dump to having a life!

Talk about making it.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
Profile "REPLY WITH QUOTE" Go to top
 
Rat
Member Avatar
Filthy Rodent

Quote:
 
Young couple buy their first home splashing out $3.75 million
But the silly old bears keep telling me homes are unaffordable for FHBs. :?:
Consumer protection laws extended to small businesses. Banks not permitted to repossess due to non-monetary defaults (for example, a fall in the property value).
Profile "REPLY WITH QUOTE" Go to top
 
Swine
Member Avatar


Bardon
11 Jul 2017, 11:20 AM
These kids know how to work the magic pudding alright, and a record sale to the seller, wealth creation through application and best of all win win.

Young couple buy their first home by splashing out $3.75 million for a five-bedroom mansion in Sydney - and here's how you can do it too

The couple in their 30s leveraged equity from a Melbourne investment property
They were looking to buy in the suburb of St Ives, which has seen rising prices
The brand new five bedroom house was rebuilt and finished in December 2016
New street record for Warrimoo Avenue was set by the sale price of $3.75million


A couple in their 30s have leveraged the equity on an investment property in Melbourne to buy a brand new multi-million dollar first home.
They bought the newly built five-bedroom house in Sydney's leafy Upper North Shore suburb of St Ives for $3.75 million, setting a new street record.

Aged in their 30s, the young couple are living with parents in the nearby suburb of Pymble, and were seeking a new home in St Ives.
The ultra-modern dwelling was rebuilt and sold by an Australian-Chinese family who had originally planned to live in the house, Realestate.com.au reported.

Rising property prices in the area proved too much of a temptation, however, and the couple decided to sell and move to a more convenient area.
They bought the property for $1.1 million in 2014, making a tidy profit in just three years.

St Ives has long been a popular suburb for families seeking large blocks and 98 Warrimoo Avenue was notable for being one of the few newly-built homes for sale.
'New houses for sale are becoming quite unique now, as developers are now finding the land prices [to be] too high, combined with the building and holding costs of property,' Savills Cordeau Marshall selling agent Coco Cui Roskam said.

She said the sale was evidence of strong prices in the area, being on a 930sqm block, whereas high sales nearby have all been on land parcels 1100sqm and above.
The median house price in St Ives is now $1,950,000, with a 12-month growth rate of over 10 per cent.
The Warrimoo Avenue home, which surpassed the previous record sale price of $3million in 2015, has five large bedrooms spread over two levels.
It has an extensive open-plan living room, dining room and kitchen, and even features a home theatre.


Read more: http://www.dailymail.co.uk/news/article-4681072/Young-couple-buy-3-75million-St-Ives-mansion-Sydney.html#ixzz4mTgA81w5
Follow us: @MailOnline on Twitter | DailyMail on Facebook
wonderful.

i don't want to keep hearing the excuses of young people. here is a clear example of a couple of youngun's shutting up, putting their head down, getting on with it and getting the rewards.

and well done to the sellers - 2.6 million in profit in just 3 years.

the naysayers should just pipe down. they are simply envious.

well done

Cheers
Profile "REPLY WITH QUOTE" Go to top
 
Chris
Default APF Avatar


Bullshite story, glad to see the usual morons rubbing themselves raw on deceptive stories with little or no real data to substantiate what are ridiculous claims. What was the property they had in melbourne, how long did they own it and how much was the difference between redrawn equity and the new home at 3.75 mil?

Without the detail this story is as believable as Trollie
Profile "REPLY WITH QUOTE" Go to top
 
Tick Tock
Default APF Avatar


I think thers more to this story than is being told.

How many FHB's get to buy a 3.75 mill property even if they did have an investment property in Melbourne? :bl:
Edited by Tick Tock, 11 Jul 2017, 07:34 PM.
Profile "REPLY WITH QUOTE" Go to top
 
Rat
Member Avatar
Filthy Rodent

Lukey
11 Jul 2017, 07:34 PM
How many FHB's get to buy a 3.75 mill property even if they did have an investment property in Melbourne? :bl:
Not many - that's why it made the news headlines. But there would be plenty buying for $1M to $2M that don't make the news.
Consumer protection laws extended to small businesses. Banks not permitted to repossess due to non-monetary defaults (for example, a fall in the property value).
Profile "REPLY WITH QUOTE" Go to top
 
Chris
Default APF Avatar


Rat
11 Jul 2017, 08:13 PM
Not many - that's why it made the news headlines. But there would be plenty buying for $1M to $2M that don't make the news.
Plenty of $1m-$2m hey, can you define plenty?

Btw lots of things make the news that are fake, just because it went to print it doesn't make it true
Profile "REPLY WITH QUOTE" Go to top
 
Rat
Member Avatar
Filthy Rodent

Chris
11 Jul 2017, 08:24 PM
Plenty of $1m-$2m hey, can you define plenty?
Yes - loads.
Consumer protection laws extended to small businesses. Banks not permitted to repossess due to non-monetary defaults (for example, a fall in the property value).
Profile "REPLY WITH QUOTE" Go to top
 
1 user reading this topic (1 Guest and 0 Anonymous)
Go to Next Page
« Previous Topic · Australian Property Forum · Next Topic »
Reply
  • Pages:
  • 1



Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.

Forum Rules: The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.

Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.

Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.

This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.

For more information go to Limitations on Exclusive Rights: Fair Use

Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ

Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy