How to buy on the Gold Coast for under $200,000
Have you ever wondered what $200,000 will buy you on the Gold Coast? Frankly, it is not much, but if you are prepared to drastically alter your dream, you can still do it.
Have you ever wondered what $200,000 will buy you on the Gold Coast? Frankly, it is not much, but if you are prepared to drastically alter your dream, you can still do it.
1. OFF-GRID LIVING
Lodge 25 on South Stradbroke Island features two large bedrooms, a bathroom, kitchen, living area and a sun deck overlooking the lagoon. It is also being sold fully furnished with offers over $175,000 considered.
But there is a catch. There is always a catch.
It is located in the troubled Couran Cove Resort.
“Please Note : Currently all power, water and gas has been disconnected on Couran Cove resort and the resort is closed,” the listing says, adding that despite these key features being turned off, the body corporate fees are still approximately $6500 a year, albeit they have “dropped considerably”.
The listing notes that the body corporates are working on a number of infrastructure projects.
“The home has a camping-style solar powered electrical supply with a generator for
back up, has legally connected gas supply with 9kg bottles, has 4000 litre rainwater
storage capacity and pump,” the listing says.
“This system is operational but should be considered a temporary solution for off-grid living.”
A studio apartment in the resort is listed for offers over $70,000.
Think of it as a bit of glamping.
2. OVER 50s
Located in Pine Ridge caravan village, this one bedroom caravan annex home is listed for offers between $79,000 and $93,000.
“Other benefits are no Gold Coast City council rates or stamp duty, and you own your home but not the land,” the listing says.
“There is a site fee of approximately $236.25 per week which includes Gold Coast water fees, and you only pay for electricity, gas if applicable and phone internet connections.”
It features a small front veranda, seperate living and dining spaces, a large bedroom, bathroom, kitchen with gas cooktops, a double extended carport and shed.
There is also a study nook, window awnings and front veggie gardens.
Onsite amenities include a pool, BBQ area and fully maintained gardens.
3. BUY A BERTH
If bricks and mortar are out of reach, there is always the option of buying a marina berth, with prices ranging from $90,000 (16m) to $250,000 (30m).
Located in the Hope Island Resort Marina, the listing says that freehold marina berths on the GC are “rare”.
“These berths are just like buying a block of land but it has water on it and of course you can moor your boat there or rent it out,” the listing says.
It adds that the berths come with low body corporate fees and high rental returns making then “better than money in the bank”.
There is also an onsite manager, 24 hour security, and a protected harbour with house boats welcome.
4. RENTVESTORS LOOK HERE
Single villas with solid returns are listed for sale in Merrimac, each earning $580 to $590 per fortnight.
“Please note: due to the current pension scheme/DA/gov accreditation over this community, these units are for pensioner tenants to occupy and come with leases attached, sorry no owner occupiers,” the listing notes.
“Each of the single accommodations are fully resourced, servicing those looking for affordable assisted living accommodation.”
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Each single level villa comes fully equipped, ready for any tenant to move in, and features a kitchenette, open plan lounge area with durable flooring, a queen sized bedroom with a built-in robe, airconditioning/ceiling fans, a large bathroom/combined laundry with washer/dryer, security screen, privacy blinds and an undercover patio at the front and an open air patio at the back.
“Assisted Living at Bougainvillea Lodge & Westminster House offers your tenants a peaceful lifestyle with privacy and security, within a friendly communal environment,” the listing says.
“Virtually no vacancy, with a waiting list to live here, so you can enjoy the secure returns and protection of your investment with the bonus of having full time managers onsite to help with the residents everyday needs.”
5. STUDIO WITH A VIEW
On the market for offers over $199,000, this 37sq m bolthole is located in Mantra on View, right in the heart of Surfers Paradise.
“The perfect investment that provides you a myriad of choices…Enjoy a weekend getaway or holiday escape with the assurance of high income through the hotel management or Airbnb,” the listing says.
“This is one of two exceptional buying opportunities that we currently have available within the building and at this price point the representation of value on offer will not be matched. Buy one or buy both.”
The studio apartment has a balcony, bathroom, and is being sold fully furnished.
But yeh, there is no kitchen.
Originally published as How to buy on the Gold Coast for under $200,000