Check out the short list for first homebuyers this Long Weekend
First homebuyers are expected to be out in force this weekend after a drop in interest rates and improved buying conditions. Here are the homes they should be targeting.
At least 21 lending institutions have dropped their interest rates following the historic low official cash rate announced on Tuesday.
So first-time buyers can go shopping this weekend looking for a new home.
The northern beaches is not known for its affordable houses but we have found three family homes being auctioned on Saturday all with guides below $1.5 million. Two of the homes have five bedrooms, two have ocean views and one has a swimming pool.
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The first family home being auctioned on Saturday is a five-bedroom house in a cul-de-sac that comes with ocean views.
No. 8 Cambridge Ave, Narraweena is on 607sqm of land, has a pool and a guide of $1.4 million.
Matthew Lemon, of Cunninghams Real Estate, said the house has extensive indoor and outdoor space, tropical gardens and a versatile floorplan.
“There is a welcoming, rustic feel about this lovely home, and while it’s in perfect condition to move into now, there is opportunity to add significant value over time,” Mr Lemon said.
The onsite auction is at 9.15am on the Saturday of the Long Weekend.
Next out of the blocks is a five-bedroom house in Allambie Heights with a bidding guide of $1.35 million.
The renovated house at 3 Lae Pl is on the high side of the street in a quiet cul-de-sac and it has east-facing district views as well as a glimpse of the ocean.
Ken Snell, of Ken Snell Property Dee Why, said the house has a new large open-plan kitchen, French doors opening to multiple decks and airconditioning as well as a fireplace. That auction is booked for 11am at the property.
“We have had 88 groups through the house,” Mr Snell said.
“I think we will see investors back too, some properties are see 4.8 per cent rental returns which compares well with 2 per cent you can get from the bank,” he said.
The third and final home is a three-bedroom house at 100 Toronto Ave, Cromer and it has the lowest price guide at $1.195 million. Mark Bushell, of LJ Hooker Dee Why, said the brick home was around the corner from the popular 8.4km trail around Narrabeen Lagoon, near the water and close to nature.
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“It is on the market for the first time since the 1960s when it was built to last in full brick and brick veneer construction. There is a lot more to this house than the cottage view you’ll see from the street,” Mr Bushell said.
Downstairs there is the chance to create self-contained premises and the back yard is north-facing for all day sun.
Originally published as Check out the short list for first homebuyers this Long Weekend