Kanwal couple’s first-home dream becomes a reality
When a young couple came to us wanting to build a granny flat, the outcome surprised us all. Little did any of us know that – as we explored the couple’s wants, hopes and goals – their granny flat idea would evolve into building a full 3-bedroom home in Kanwal. But, at Acrow Investments, we’re always delighted to help people achieve their property dreams.
The suburb of Kanwal already offers so much – and at such good value – that it’s a solid foundation for the couple to put down roots and build a lifestyle for the long-haul … or to be temporary owner-occupiers with an eye for investment returns.
Let’s look closer at the project.
Project description: A first homeowner dream turning into reality in Kanwal, Central Coast, NSW
Result: A young couple’s plan to invest in a granny flat evolved into building their first home – all-new, 3-bedrooms, completely modern living.
Project cost: $243,000 including Development Application approval and construction fees.
Build duration: just 17 weeks.
Rental Return: Owner-occupied – however, the area’s average rental yield is a promising $395/week.
Roughly 4,000 lucky residents currently call the suburb of Kanwal home. On the shores of Tuggerah Lake, it’s a peaceful largely residential precinct. With proximity to the Pacific Ocean, you can count on cooling sea breezes, while there’s an abundance of outdoorsy activities nearby: including boating, fishing, sports fields and bushwalking. The general landscape is of one easy slope down to the water’s edge, meaning easy cycling is on the cards too. All this in a location just 90 minutes north of Sydney and 60 minutes south of Newcastle.
The relaxed, safe and convenient local lifestyle suits both young families and active retirees. There’s a handful of great spots to stop for a coffee, quite a few schools in adjacent areas and even a small shopping strip right in the suburb. For bigger shopping trips, there are multiple supermarkets just a short drive away.
And, just because it never hurts to know the investment return of your home (even if you’re staying put), the Kanwal area has a median price for a 3-bedroom house of $480,000. Average returns approach $400 per week. Great value!
When a young couple came to us recently to enquire about granny flats, we were all too pleased to answer their questions. As we explored the possibilities around their ideas, it came as a welcome surprise for them to realise that a brand-new 3-bedroom home was absolutely on the cards.
As the design evolved, it included more and more prestige features. As built, the exterior presentation includes a split skillion roof and a Weathertex weatherboard facade. The colour scheme chosen is a classic and classy palette of grey and white.
Inside, there is an open-plan living and kitchen area that integrates both a large entertaining area and the grassy yard. And, because open-plan designs offer so much flexibility, this double-income-no-kids pad can transform into a family home as little ones come along.
The light colours and breezy spaces of the design don’t impose upon the interior function and decor of the spaces. The result is a home that can be styled and restyled to comfortably suit any lifestyle.
The project itself came to $243,000.00, inclusive of both DA approval and the construction fees.
As the property is owner-occupied, rental return is less of a factor right now; however, rental homes in the area average a healthy $395/week.
Partnering with Acrow Investments
As a proudly family-run business that’s local to the Central Coast region, Acrow Investments is dedicated to this region and its people. We’re experts in the construction of granny flats, duplexes, homes and dual occupancies. If you’ve driven through the Central Coast, Newcastle, Lake Macquarie or Hunter Valley regions, you’ve almost certainly seen some of our work already.
We’ve helped so many property owners achieve their real estate dreams. Just like them, we want to help you too. Get in touch with us for a no-obligation discussion, a site-specific consultation and free quote. No stress, no pressure – just possibilities.
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