Tour this flexible farmhouse property with contemporary convenience
Kanebridge News
Share Button

Tour this flexible farmhouse property with contemporary convenience

It’s hard to believe that this classic country farmhouse was only recently completed

By Robyn Willis
Fri, Sep 30, 2022 7:00amGrey Clock < 1 min

Many of us dream of a country estate without missing out on the conveniences of the city. At 17 Heritage Drive, Bundanoon, it is all on offer on a luxury property ideal for weekend parties, working from home or just escaping from the trappings of city living.

The five-bedroom property in the Southern Highlands has been designed to separate living and sleeping quarters while perfectly capturing the natural light, cross breezes and views. An open plan living area is at the centre of this recently completed house, characterised by exposed recycled ironbark beams, dormer windows and a sandstone fireplace constructed from local stone.

The Shaker style kitchen is a cook’s delight, with a generous island bench finished in Caesarstone and abundant storage which extends into the butler’s kitchen.

Bi-fold doors fold back to draw guests outside onto the expansive deck to enhance enjoyment of the 4000sqm property. 

For those with a young family or in need of a quiet place to work, a secondary private living area would be ideal as a home office, playroom or home theatre environment. 

Part of The Yards at Bundanoon, this is one of the first homes to be completed on the estate, set to become one of the most desirable addresses in the Southern Highlands.

Price guide: $3.25 million

Open for inspection: Saturday October 1

Agents: Ben Olofsen 0419 019 423 and Steph Ash 0458 000 253, The Agency, theagency.com.au



MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

Related Stories
Property 2024
Property
How Much House Can I Afford?
By Josh Bozin 12/04/2024
Property
The 7 key insights into the Australian property market you need to know
By Bronwyn Allen 11/04/2024
Property
Live in a WWII-Era U.S. Embassy in London for £21.5 Million
By LIZ LUCKING 11/04/2024
How Much House Can I Afford?

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.

 

MOST POPULAR

Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts

11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

Related Stories
Money
Investors Have Cooled on Hydrogen. A Second Wave Is Coming.
By PATTI DOMM 12/04/2024
Money
The Latest Dirty Word in Corporate America: ESG
By CHIP CUTTER 11/01/2024
Property
Their Home Had to Be Fashion Forward. But Above All Else, It Needed a Killer Closet.
By NANCY KEATES 23/01/2024
0
    Your Cart
    Your cart is emptyReturn to Shop