Stephen and Barbara, aged 61 and 60, had always dreamed of retiring in Queensland. To make that dream a reality, they decided to purchase a property in Brisbane, with the plan to rent it out for five years before moving in post-retirement. Their investment strategy focused on debt minimisation, allowing them to borrow as little as possible and reduce debt ahead of relocating. Despite the challenges of building remotely from Melbourne, they successfully secured a prime block of land in Yarrabilba by strategically narrowing their property search and aligning their purchase with their long-term goals.
Stephen and Barbara were motivated by rising property prices and wanted to secure a home in Brisbane early to avoid paying a potentially higher price after retirement. However, their remote location in Melbourne posed significant challenges in managing the process, especially in a competitive real estate market. Specific hurdles included:
A widespread initial property search that lacked focus.
Time constraints and the need to minimize holding costs on the land.
Navigating the complexities of building a home remotely, including aligning land and house options with their preferences.
Additionally, they sought a property that would both serve as an attractive rental investment that can seamlessly transition to their retirement home. Their key house criteria included 3-4 bedrooms, 2 bathrooms, and a 2-car garage.
Finding the Perfect Block
The first step to achieving Stephen and Barbara’s goal was refining their property search. Initially, they considered a wide range of options spanning areas such as Springfield and Caboolture. After consulting with us, they adopted a strategy to become experts in their top three preferred suburbs. This targeted approach yielded strong results, and Stephen and Barbara secured a registered block of land in Yarrabilba.
The chosen block came with several advantages:
Positives:
Negatives:
Despite these minor challenges, the location and quality of the block made it an ideal choice for both rental and future living.
To meet their goals, Stephen and Barbara prioritized a practical yet aesthetically pleasing house design with specifications aligned to their vision of a comfortable retirement home. Key features included:
House Design:
Interior Features:
Kitchen:
This thoughtful design would cater to renters initially, and transition into an ideal setup for Stephen and Barbara after retirement.
Through a combination of strategic property searching and meticulous planning, Stephen and Barbara achieved their goals of securing a retirement property in Brisbane. Key outcomes included:
Prime Land Purchase: They acquired a block in a desirable location in Yarrabilba within their budget, while avoiding delays or issues associated with titled properties.
Tailored Home Design: The house requirements reflected both their needs as a rental property and as a future retirement home, ensuring dual-purpose functionality.
Streamlined Process: By focusing on fewer suburbs and working closely with experts, they overcame the challenges of building remotely from Melbourne.
Debt Minimisation: Their strategy allowed them to limit borrowing and start reducing debt for financial security ahead of retirement.
Strategic Focus is Key
Narrowing the search to top suburbs helped Stephen and Barbara secure a property quickly in a competitive market.
A Dual-Purpose Investment Matters
Designing the home with both renters and their future retirement needs in mind ensured maximum long-term value.
Preparation Makes All the Difference
Tackling potential challenges, such as managing holding costs and adhering to local regulations, enabled a smooth process.
