This week, Ipswich and Logan Granny Flats, the leading builders for granny flats in SE Qld, bring to you an exciting update as Orange City Council redevelop the former hospital site into a mixed housing development – including granny flats!!   This will leave fantastic opportunities for investment and housing solutions.

Read and enjoy:

Central Western Daily | Janice Harris
May 4 2016

THE masterplan for the proposed redevelopment of the former hospital site reveals some buildings are earmarked for demolition, while the main building will be refurbished into a 28-unit apartment block, to be surrounded by terrace houses, granny flats and semi-detached two-storey houses.

 “Once the development application goes ahead in June we will just have to see the expressions of interest or whether council will be a major partner,” said Orange mayor John Davis.

“If that’s the case it will be a staged development.”

The masterplan shows the site divided into four blocks comprising residential, terrace and mixed use housing.

Orange City Council planning and development committee chair, councillor Russell Turner said he was pleased the original and historic ambulance station on the corner of Anson and Prince streets would be retained and refurbished, possibly into a wine bar, cafe or gallery.

“It will open up enormous opportunities  for residential living and the people of Orange,” he said.

The whole development site, bounded by Anson, Dalton, Sale and Prince streets, was vacated in March, 2011.

Since then it has fallen ito disrepair, as NSW Health Infrastructure and Orange City Council negotiated the future of the site.

Sydney-based designer Michael Heenan of Allen Jack Cottier Architects devised the masterplan for the site incorporating the retention of existing trees and the establishment of new green and recreation areas, with the planting of additional trees.

In the masterplan, Mr Heenan said the existing structure of the 1970s hospital building, with its simple repetitive concrete frame, could be easily transformed with the addition of balconies, sunshades, new windows, colour and materials.

Included in the design is a system of laneways, walkways and vehicle access to the various types of housing throughout the site.

As well, there is an option for a residential care facility on the site, with a layout allowing flexibility with accommodation as part of a residential care plan, as well as independent living.

Following the signing of the $3.3 million contract earlier this week with NSW Health Infrastructure, Cr Davis said the next step was a development application for demolition of some sections, demolition contractor engagement and an expression of interest for redevelopment of the site.

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This week, Ipswich and Logan granny flats, the expert granny flat builders in SE Qld, bring to you an exciting reminder on why dual-income investment properties are such a huge trend.

Whether it’s to pay off your mortgage faster, or simply giving you some extra cash to pocket, read on to discover why dual-income investment is a great opportunity for you:

Smart Property Investment | Jack Needham

22 April 2016

Earning two incomes from the one property sounds like every investors’ dream come true, but is there more dual-income investments than meets the eye?

A dual-income investment is effectively what is says on the tin – a property that provides two incomes to an investor, by way of two separate rental agreements. It may be a granny flat, a duplex, dual occupancy, or a dual-key property.

All property types have provision for two incomes, but each differs slightly in its presentation, cost, and buyer/renter appeal.

A granny flat is an additional dwelling, typically the same size or smaller than a studio apartment, usually situated in the backyard of an existing property. Some granny flats don’t require council approval for construction, and in recent years, particularly in markets such as Sydney, they have become an increasingly popular addition to many suburban homes.

A duplex is two adjoining properties on the same title (in a majority of cases) – or a residential building divided into two apartments/townhouses. Although duplexes can be sold individually, investors can choose to construct them as a way of gaining a larger number of properties from the one plot of land. Each side of a duplex is typically identical to the other, as this maximises building and material efficiencies.

Dual-occupancy properties are similar to duplexes in that they refer to two properties on the one plot of land, but they do not necessarily have to be adjoining. For example, on a larger plot of land, say in a rural residential area, two properties may exist on the one plot of land. Dual-occupancy properties will typically share infrastructure such as entrances and driveways.

Dual-key properties refer to properties with floorplans which allow for an area of the residence to be locked off for separate use. Each resident may share common facilities such as the front door, but have access to separate areas of the property for their living quarters and kitchen facilities.

Advantages of dual-income investments include:

• Maximising the potential of one block of land: instead of having a single property on a large block of land, you can utilise more of the space available to you
• Improved cash flow, which can contribute to your loan servicing capacity
• Reduced maintenance costs
• Increased portfolio size without the cost of outlay associated with buying two properties

Disadvantages of dual income investments

• Reduced property desirability: many owner-occupier buyers may not be attracted to a dual-income investment. The design may not suit their requirements, or they may simply not be attracted to the idea of having another property attached, or in close proximity, to their residence
• The risk of over capitalising: it’s very easy to spend money on developing a dual-income investment that may not be reflected in the value of the overall property. For example, while granny flats can be a cheap entry point into property investment, it is very easy to develop them to a higher level which may not be reflected in the asking price come sale time
• Minimal contribution to equity: following on from the previous point, the lack of market value attached to some dual-income properties means that they may not be the best vehicle for enhancing equity, and therefore increasing your borrowing capacity
• Being stuck with multiple vacant properties in the one area: diversification is the key to avoiding the risks associated with property investment, and dual-income investments run the risk of being stuck with two losses of income, not one, if the market takes a turn for the worse in that area
• When it comes to sales time, it may be impossible to sell the properties separately (with the exception of some duplexes). This has the potential to present significant challenges
• If you want to pass on the cost of some utilities, such as water expenses, to each of the properties in your dual-income setup, you will need to spend the extra funds required to establish separate meters for each property

What you need to know before you buy a dual-income investment
Unless the investment is simply establishing a basic granny flat in your backyard, the lack of equity sometimes generated by a dual-income investment may mean that it’s not the best investment option for those just starting out. You could potentially spend a lot of capital establishing a dual-income property that, while providing a high yield, may not allow you to establish your investment portfolio as fast as you would like.

For investors with a well-established portfolio, who can afford the significant outlay of establishing a dual-income investment and are at the stage where they want a high-yielding asset to improve their cash-flow situation, a dual-income investment may be a worthy consideration.

It’s important to remember that design considerations are key to a successful dual-income investment, particularly if it’s a duplex or dual-key investment. If you’re buying a property off-the-plan from a builder, or choosing a standard floorplan, be sure to understand the room configurations and flow, the bedroom and living room sizes, the available storage and general finishes, the orientation and whether this is in line with the expectations of the renter demographic in the area.

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This week, Ipswich and Logan Granny Flats, the expert granny flat builders & largest suppliers of granny flats in SE Qld, bring to you an exciting update as property values in South-East Queensland start to increase, with Logan being just one of the star-suburbs…

This is great news for property investors, so read and enjoy:

News.com.au | Aidan Devine
April 14 2016

Investors in search of properties that will deliver high capital growth in the years ahead may find southeast Queensland and certain fringe suburbs of Melbourne safe bets.

These regions accounted for the bulk of high growth property markets in Hotspotting.com.au’s latest Top 10 Best Buys report, which forecasts the 10 best locations for property investors seeking capital growth.

Queensland locations in the report included the Gold Coast, Ipswich and Logan, while the Melbourne regions included the City of Casey and Epping.

Just one NSW location was nominated: Wagga Wagga.

No property markets in South Australia or Western Australia made the cut, but Tasmania had a surprising addition in Hobart.

The report said these locations have “identifiable drivers of demand for real estate, which will place pressure on prices and rents … we expect them to show growth not only in 2016 but well beyond.”

GOLD COAST, QLD

Billions is being spent on infrastructure across the Gold Coast in the lead up to the Commonwealth Games in April 2018, which is expected to bring around 690,000 visitors to the city.

Ongoing projects include the $150 million development of the light rail network and a $42 million aquatic centre.

These and other developments have helped create 15,000 jobs over the past year, adding to the city’s already strong population growth. The Gold Coast’s population is projected to grow by 133,800 people in the decade — the largest population growth in Queensland.

“There will be (property) price growth, especially in the genuine residential suburbs,” the Hotspotting report said. Much of this growth is expected to occur in suburbs along the northern corridor between Helensvale and Brisbane.

LOGAN, QLD

Logan City’s combination of affordable property prices, good infrastructure and proximity to job hubs could boost home values.

Many of the region’s older suburbs have been revitalised through urban renewal projects and Logan is already one of the fastest growing municipalities in Australia.

It is being expanded through a $4 billion masterplanned housing community on Waterford Tamborine Road, which will result in 17,000 new dwellings.

There is also a $600 million project to redevelop Jeta Gardens Retirement Village, approved by local council in 2014.  The village currently injects $10 million into the local economy annually, but this is set to rise to $100 million.

HOBART, TAS ………………..

EPPING, VIC …………………..

CITY OF CASEY, VIC ……………

THE REST OF THE TOP 10:

Moreton Bay, Qld:  The region offers affordable housing as well as good rail and road links to Brisbane and the Sunshine Coast, making it a strategically placed property market.

Sunshine Coast, Qld:  Billions of dollars in service upgrades, including the development of a $5 billion medical hub, are driving an influx of new jobs to the area, in the process, boosting demand for housing.

Sunshine precinct, Vic:     ……………….

Wagga Wagga, NSW:    …………..…….

Ipswich, Qld:  A report by the Department of Infrastructure and Transport forecast 56,000 jobs will be created in Ipswich’s central suburbs by 2026. The jobs growth, coupled with affordable prices, will fuel demand for  housing, Hotspotting said.

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This week, Ipswich and Logan Granny Flats, the expert granny flat builders, bring to you an interesting snippet about this awesome granny flat and what makes it so unique. Also, it highlights exactly why granny flats are a fantastic investment…

Read and enjoy:

Newcastle Herald | Jacqui Jones
April 15 2016

It’s a granny flat, but there’s nothing old-fashioned about this backyard abode. Yet a no-frills building process produced the sleek and stylish finish.

The owners enlisted The Junction-based firm Backspace Living to build the designer dwelling on their William Street, Jesmond, property.

It coincided with the renovation of a two-bedroom cottage at the front of the block, to add an extra bedroom to the house.

Building the granny flat created the potential for additional rental income for the owners, a semi-retired couple from Lake Macquarie.

“We wanted to maximise the return on investment on our property,” the owners say. “We are using this to fund our retirement and we were able to get an additional [to rental income on the main house] $360 per week rent on an investment of $125,000.”

They chose a granny flat, over a larger extension to the main house, because it offered a much better return on their outlay.

“It provides us with a second income on the property,” the owners say.

The couple say finding the right people to build their granny flat was the biggest challenge.

“There are a number of different options out on the market, however Backspace Living took care of everything and met our brief.”

And their feelings about the finished result?

“We love the quality of materials used,” the owners say.

“The granny flat does not feel mass produced or generic.

“It really stands out.”

The couple especially love the custom hardwood timber screening that frames the entertaining area.

“It’s a real feature of the granny flat,” they say.

Backspace Living directors Tim Sullivan and Trent Robinson say their work is about delivering quality architectural design in granny flats.

“Trent and I identified the need for good quality granny flats in an industry that is growing at a rapid rate,” Sullivan says.

“We engaged award-winning local architect Jason Elsley of Derive Architecture & Design to help achieve a stylish granny flat at an affordable price.”

Sullivan says the brief for the Jesmond build was to deliver a stylish granny flat that would maximise the owners’ rental income and deliver a positively geared property.

The new freestanding dwelling uses quality brand-name suppliers and appliances, ranging from Caroma tap ware and Westinghouse appliances to Caesarstone benchtops and James Hardie cladding.

Other highlights include timber flooring and high-raked ceilings (3.2 metres).

Sullivan says he and Robinson are particularly proud of the layout.

“Granny flats are limited [by state government guidelines] to 60 square metres of internal space. However, due to the high-raked ceilings throughout and spacious design, the area feels a lot bigger and brighter,” Sullivan says.

Robinson also utilised his creative talents in the finer details of the fit out. A custom-made vanity unit was made by Robinson on site. It gives the bathroom a modern and unique feel, adding to the sense of custom luxury in the granny flat.

Robinson says while the product is luxurious, the building process was simple and straightforward.

“Backspace Living was able to offer the client one of our many standard designs, so there was no need for the client to engage an engineer, town planner or building certifier,” he says.

“This cut down the time it took to get from concept stage to construction.

“We took care of all design aspects and even offered pre-determined colour pallets to take any stress away from the client.”

The one-stop nature of the contract also meant the project ran smoothly.

“Backspace Living worked with council so there was no need to concern the client with the day to day operation of the build,” Robinson says.

“Regular site meetings were held with the client to answer any questions.”

Sullivan and Robinson aim to make things as simple as possible for clients through the building process, to get to a finished result that looks anything but.

“Our architecturally-designed granny flats are not limited to the old fashioned notion of a ‘little old ladies house out the back’,” Sullivan says.

“Instead, they offer forward-thinking Australian families a modern lifestyle solution with no sacrifice on style or function.”

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This week Ipswich and Logan Granny Flats, the expert granny flat builders, bring to you an exciting new update on changes to regulations now allowing larger granny flats to be built in low and medium density areas with the Northern Beaches in Sydney.

This will help the issue of housing affordability tremendously, please read and enjoy…

Daily Telegraph | Sarah Swain
April 6, 2016

Granny flat-style ‘family flats’, large enough for parents and kids, are set to be created across the northern beaches to tackle crippling rents.

Warringah Council plans to increase the size of secondary dwellings allowed within existing homes to go up from 60sq m to 75sq m.

That is large enough to squeeze in two bedrooms and will be allowed in most suburbs across Warringah.

The plan, also aimed at retirees, came from a proposal by Warringah Mayor Michael Regan in 2014.

He said he wanted to explore the option of creating affordable housing for families by allowing larger, two-bedroom ‘family flats’. The smaller size was more suitable for singles and couples.

He said: “We can address the issue of providing opportunities for families and those who wish to downsize.”

Agent Brian Fairweather, from Ray White, said granny flats are already popular with both homeowners who want to gain an income for a much smaller outlay than an investment property, as well as with families wanting to move to the area.

They can be created for about $120,000 but rent for about $600 a week.

“It’s private and they have their own space. Some people can’t live in the area unless they find something like a granny flat,” he said.

However, the larger flats will still need a Development Application, unlike 60sq m flats, and will only be allowed in low and medium density spots. Rural areas with larger blocks, like parts of Terrey Hills, are not allowed the developments.

The plan will go to the State Government.

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This week Ipswich Granny Flats, the expert granny flat builders, bring to you an article on ‘property spruikers’ and their hotspot scam that investors are falling victims too – according to the experts.

Read and enjoy:

Smart Property Investment | Jack Needham
1 April 2016

Australian property investors have been warned not to fall for get-rich-quick suburbs.

David Pascoe, an author, former property wholesaler and founder of Buy Australian Properties, has used recent media reports of failed mining town investments to warn of the biggest scams currently facing Australian property investors.

Speaking to Smart Property Investment, Mr Pascoe shared his theory that many failed mining town investors had been the victims of property spruikers.

“A lot of people who have bought in these hotspots, these mining towns, that the pants have dropped out of and they end up going bankrupt and losing everything – they went through spruikers; they went to seminars, they went to webinars, they went to information nights, they went to education nights, where the spruiker filled them with the grandiose dream that you could make millions and billions out of property investment and you can do it really quickly if you find the next boom town.”

Mr Pascoe used Roxbury Downs in South Australia as a key example of investors being duped by unfounded hotspot speculation.

“I’ve seen a lot of hotspots and boom towns, especially when I was in Adelaide. Roxbury Downs, which was Olympic Dam – hotspot, boom town, everyone jumped on the bandwagon and then BHP pulled $35 billion off the table and didn’t develop it.”

Despite the commodities boom coming to an end, Mr Pascoe warned that investors still face unscrupulous real estate operators in other areas of the country, citing as an example the offers of rental guarantees for new developments in some of Australia’s largest cities.

“Rent guarantees, the rent guarantee dilemma that people have in this country is that if you notice that there is an oversupply of product coming, like there is in Brisbane, Sydney and Melbourne of high rise apartments, the rent guarantees go from one [year] to three to five, and we’ve even seen some in Melbourne that are seven years rent guarantee.

“So there’s another real danger for people to consider […] sometimes the rent guarantee is built into the actual building, they’re just upping the price and covering their risk, or other times a rent guarantee is put together by a marketing and spruiking company where the rent guarantee is underwritten by a $2 company with no assets or value, so if they go bust, your actual rent guarantee is useless.”

Mr Pascoe advised investors to avoid property investment advice that is based on following a single, formulaic strategy.

“Generally the spruikers that will tell you that you should only buy cash flow positive, that’s all they’ve got on their stock list,” he explained.

“Some say only buy in mining towns, some say only buy in regional areas, some say only buy waterfront. Here’s an idea: how about you buy what’s right for you at that time? Maybe it’s right for you to buy a new property this year, a second one next year, a waterfront one the year after, a regional one the year after. I don’t know, but I won’t say ‘This is what you must do’.”

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