Introducing 'Summerglen', Buderim’s finest home.
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Introducing ‘Summerglen’, Buderim’s finest home.

Just out of Mooloolaba, Queensland, comes this grand estate.

By Terry Christodoulou
Fri, Mar 18, 2022 2:21pmGrey Clock 2 min

Nestled away on five acres and boasting dual street access, the intensely private home combines its impressive grandeur and classic stylings with a beautiful rainforest location.

The award-winning 6-bedroom, 6-bathroom, 10-car garage home designed by Brad Read Design Group brings together grace and elegance of a period home with soaring ceilings and swathes of glass, and combines it with contemporary ideas of luxury.

Through a formal gated entryway, the driveway leads one past the lagoon to the expansive two storey home. Here, one enters through the formal entry foyer and experiences the impressive volumes within the main living zones complemented by the high-end kitchen complete with integrated appliances and scullery.

It’s also here on the lower level that one finds the office, library, multiple formal and casual living rooms and home cinema and gym.

Further mod-cons within the house include state-of-the-art security and technology, underfloor heating, striking fireplace centrepiece in the formal dining room, a granite bar in the billiard room with an outlook to the garage.

Outside, the home features an award-winning swimming pool and spa paired with a full-sized tennis court set upon the expansive, manicured grass lawn. It’s in the backyard that the most lavish entertaining can take place with festoon lighting in the majestic fig tree and an alfresco dining area complete with a built-in BBQ.

Across the two levels and the poolside guest pavilion, Summerglen comprises of six bedrooms and six bathrooms plus a powder area. The master suite features a large dressing room and opulent ensuite to match.

Infrastructure on the property includes garaging for up to 10 vehicles, a 5,000-litre underground water tank, an automatic pop-up sprinkler system, an outdoor fountain with lighting, two garden sheds, ‘hidden’ dog fencing plus boundary fencing, entry bridge and electronic custom-built gated entry.

Beyond, the expansive grounds and grand residence, Summerglen is three minutes from the centre of Buderim, and is nearby to Mooloolaba Beach, Sunshine Coast Airport with Brisbane an hour away.

The listing is with Ray White Nambour’s Matt O’Grady (+61 414 317 375), POA. raywhitenambour.com.au



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Expert tips for prospective buyers looking to purchase a home in 2024.

By Josh Bozin
Fri, Apr 12, 2024 3 min

For aspiring homeowners, be it a first-time buyer, downsizer, or investor, picturing your idea of homeownership bliss is the easy part. But before deliberating on furniture choices or scouting for that perfect neighbourhood coffee, understanding your purchasing power stands out as the most important step in ensuring your success in homeownership.

And with the Australian property market gaining momentum in 2024, there’s never been a better time to come to grips with your financial options.

In 2023, amid the changing financial landscape that saw rising interest rates and the cost of living skyrocket, among other factors, the total amount borrowed for property purchases across Australia was estimated at $300.9 billion, a 12.7 percent decrease from the previous year, according to PEXA’s latest Mortgage Insights Report.

Each mainland state also experienced a decline in new lending, according to the report, with Victoria and New South Wales seeing the biggest drops to $84.1 billion and $109.5 billion, respectively.

While this trend reflects the repercussions of such financial hardships on the everyday Australian, John Morello, director and auctioneer at Jellis Craig, said we’re seeing renewed confidence in the property market during the first quarter of 2024, particularly in Melbourne.

“Auction clearance rates have started the year strongly and consumer sentiment is rising. This lift is driven by cooling inflation and an improved outlook on interest rates. At Jellis Craig, as with the rest of the market, we are experiencing an increase in volume of property compared to the same period in March last year (up 28% in 2024),” Mr Morello said.

“Melbourne’s property market, in particular, is showing its ongoing evolution and resilience.”

PEXA’s report revealed that, while borrowing saw a decrease in 2023 in Australia, Australians still invested $613.0 billion in property purchases in 2023. In 2024, purchasing confidence is only going up, as prospective first home buyers, seasoned downsizers, and savvy investors look to capitalise on a flood of new property hitting the market, coupled with the lowering of interest rates across the board.

“With more certainty in the economic outlook, along with an increase in volume of property available, we are seeing these factors translate to early signs of a boost in confidence in both buyers and sellers,” said Mr Morello.

“Further encouraging data shows that whilst there is more property available to purchase, more people are inspecting property, again indicating that demand has increased broadly across our marketplace.”

If you’re in the market for a new property, the biggest question you must ask yourself is how much house can I afford?

A great starting place is to speak with your mortgage broker or financial professional, who can guide you on your lending options. This is critical, as you need to know what your future repayment options might look like, and ultimately, what you will typically be able to afford.

A useful tool for judging whether you can afford a specific property is to factor in the 28/36 rule — a rough guide that suggests you should not spend more than 28 percent of your gross monthly income on housing, and no more than 36 percent on all debts. Another useful tool is the idea of a debt-to-income ratio (DTI); a formula whereby an individual can divide all of their monthly debt payments by gross monthly income to arrive at a number that one can measure as a way of managing monthly mortgage payments.

Mr Morello emphasised the need to understand affordability and what’s feasible for each individual when looking to make a purchase, no matter the budget, on a property in 2024.

“It’s pivotal to work out what you can afford. Get your finances in order. Consider all associated costs with buying, and research what concessions and grants are available,” said Mr Morello.

“It’s easy for individuals to begin the process today. Start actively searching potential properties on a weekly basis, and research areas you are interested in. Check weekly sales results, attend inspections and auctions, to get a feel for the process. Just remember, it’s important to be really comfortable in understanding your living expenses, and what the ongoing expenses will be once you have bought a property.

“For example, mortgage repayments, council rates, water, power, owners corp fees, insurances, maintenance costs; if you are buying as an investment, the Land Tax payable on that property which is an ongoing tax. There’s many factors to consider.”

To see what’s possible for your specific circumstances, visit our Finance Portal for specific tools, guides and tips—as well as our own mortgage calculator—to assist you on your property journey.

 

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