Own This Coveted Southern Highlands Escape
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Own This Coveted Southern Highlands Escape

Just three-minutes’ drive to the Bowral township, the property offers an extraordinary slice of serenity.  

By Kanebridge News
Fri, Jul 8, 2022 2:57pmGrey Clock < 1 min

The allure of the NSW Southern Highlands is more acutely felt in the winter months, and here, in the coveted outcrop of Bowral, comes a desirable masterpiece of design and style boasting expansive views of the region.

Found on almost six acres and comprised of two spectacular adjoining homes (and a free-standing one-bedroom studio),  the 7-bedroom, 6-bathroom, 7-car parking property is surrounded by an established garden and pastoral grounds.

After undergoing award-winning renovations in 2017-18, the original home saw the addition of a contemporary extension with soaring ceilings, burnished concrete floors and the heady use of timber — through bespoke finishes — that sees the home’s focus now on passive solar design, energy efficiency and thermal performance.

Within the main home contains a large home office, media room, playroom, open-plan dining, sunken lounge and kitchen with an additional large butler’s kitchen.

Also found in the main home sees 4-bedrooms and 4-bathrooms with an enormous home office designed to house a golf simulator.

Throughout the home comes the aforementioned concrete floors with both heating and cooling capacity in the new wing.

Outside comes a wed-edge mineral salt plunge pool and spa with an integrated electric Remco pool cover and a floodlit tennis court overlooking Bowral.

Further, the residence’s grounds feature extensive automated garden lighting and watering systems and a productive orchard of large mature fig trees, quine and beurre bosc pear.

Elsewhere on the grounds, the freestanding 1-bedroom, 1-bathroom studio features a kitchenette with spectacular views and is privately situated away from the house. Currently, it is used as an Airbnb.

Just three-minutes’ drive to the Bowral township, the property offers an extraordinary slice of serenity.

The home is listed with Corina Nesci (+61 416 523 155) of Drew Lindsay Real Estate, EOI; drewlindsay.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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