I went to an open house yesterday. Although I’m not looking to buy anything right now, I’m always looking.
Even on holiday, I’ll look at houses. Go to open houses, go to developments, talk to real estate agents. It’s what I do. I enjoy it. It doesn’t feel like work to me. Might I go so far as to call it fun? Maybe “fun” is too strong a word; but I do get a kick out of looking at property.
Why did I choose to look at this particular house? Well, I happened to be driving home and saw the “open inspection” sign. That was it. I stopped in and had a look. I have a difficult time passing up a convenient open inspection.
“Hi Dave.” The agent said with a big smile. Then I proceeded to tell her something she already knew.
“I’m not looking to buy. But, I’m always looking!” I said cheerfully.
The house is very nice. Very nice by Alice Springs standards. Large tiled, dining room, living area. And, a very nice sized separate and private carpeted living room. I got a big feeling of space and roominess as I entered the front door. Made of hollow block contruction with cement internal wall, it’s a sturdy structure.
The three bedrooms are all spacious and have built in wardrobes. There’s another office room that could serve as a bedroom if desired. This room is a bit smaller than the bedrooms and doesn’t have a built in wardrobe. But, could easily serve as a fourth bedroom. Of course, the master bedroom is larger than the other bedrooms and has a walk-in closet and a self-contained separate bathroom (ensuite).
The house also has some great bonuses as follows:
- A large garage. Easily fit two cars and then room for storage. Always a nice feature. And, there’s a large roller door in the back of the garage for easy access to the back yard. Large enough to drive a golf cart, maybe a small car through. Beats the heck out of a normal sized door!
- There’s a pool. Not a big one, but a very niced sized small pool. Almost perfect for the small lot size of the home. A pool is a very nice feature to have in Alice Springs. A big selling point.
- A garden shed to store your tools and such. You almost expect a garden shed these days. It would be unusual to find a newer house for sale that didn’t have a garden shed.
- A good sized back yard area with privacy. The fence is elevated a bit to provide extra privacy. And the back yard area is big enough to enjoy some traquil moments. But not so big you have to spend many hours every weekend to maintain.
- The front entrance to the home is very inviting. Neat, tidy presentation.
- Fully fenced around the property. And, a nice fence at that.
- Very lovely kitchen. Open plan with a window out to the back yard.
- Nothing to do; just move in. (A big feature!)
- Great neighborhood. Golf course community. Probably one of the top 3 neighborhoods in Alice Springs. Some might argue it’s the best neighorhood. But, that’s very subjective. I personally would vote it the top. (Disclaimer: I live in the same neighborhood!)
Now, just as with any house, there are some drawbacks.
- Relatively, small block of land; 628 square meters. But, then again, how much land do you need/want for a residential home. Some, people may prefer a smaller block.
- Lot has a bit of a crowded feel as there are neighbors on all sides.
- The property borders a vacant lot which is for sale. I believe this vacant lot has multi-dwelling zoning permission. This may be a detractor for some buyers. Others may not care in the least.
Let’s talk Price!
I feel the price is a positive and a negative. Positive because it’s priced at the lower end of the scale for the golf course area! Very difficult to find a home in the golf course area – with all these features – under $800,000. That’s not a typo. Homes are relatively expensive in Alice Springs. Why, I don’t know. I’ve never been able to figure this one out! For an expose on high prices in Alice Springs, read my blog article “Too Weak to Defend – Part 10; New Adventure – Land Auction.”
And, the price is also a negative. Negative because, how many people can afford to pay this price. When the price climbs up over a certain amount (pick a number!) the number of potential buyers starts to drop off – fast. This “number” changes as the interest rates change. The number goes higher as interest rates drop; it goes lower as interests rate rise. Right now, interest rates are on the rise so the “magic number” is dropping. It’s much more difficult for people to qualify for a $700,000 loan now than it was 18 months ago.
But, then again, for some reason, Alice Springs is amazing. There always seems to be plenty of qualified buyers for almost every price range. Maybe it’s the economic strength of this town. It seems to be a powerhouse. A place where people can go to make a good living. Yes, the property prices are high, but folks can “have a go” here and make good money. I’ll have to make a point to discuss this phenomena more in a later article … can hardly wait to see (read) what I write!
Recommendations:
If you’re looking to buy a newer, modern home, in a top neighborhood in Alice Springs, then I suggest you have a serious look at this property. It will set you back a few “bickies”, but in relation to the current market, this appears to be good value.
If you’re looking for an investment property, I wouldn’t recommend this home. Yes, you’d get a handsome rent of say $750 a week. That’s not a typo! But, if you run the numbers, at the current interest rates, you’d be out of pocket quite a bit (assuming you borrowed most of the money). Not exciting to me.
Click here to have a look at the listing!
And, this concludes my house review.
If you have any questions and/or comments about my house review, let me know. Is there something I left out? Should I have talked about the kitchen more? Did I talk too much about the garage?
Let me know.
Stay tuned for my next House Review.