Why this beachfront home is on the market for just $425,000

two-bedroom home with uninterrupted sea views of Kingfish Beach is available to anyone offering over $425,000 — but there’s a catch.

“But then, in 2011, the Crown wanted all the landowners at Kingfish Beach Rd to put in wastewater management systems,” Merdivenci said. Because this was a costly exercise for landowners, the Crown extended the leases for 30 years. “If you went to sell it 10 years down the track, there’s only about nine years left, so you go: ‘What can I justify for a nine-year timeframe?’ Because there’s no guarantee you’ll have it longer,” he said.

It’s close enough to the pristine waters of Deephole Bay that residents can even expect some sea spray without even leaving their verandah.

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Fuente: FinancialReview - 🏆 2. / 90 Leer más »