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The perfect first-timer’s investment

by Jan 28, 2021

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Luxury granny flat in Halekulani, NSW

When a client comes to us looking to kickstart their real-estate investment portfolio – via a granny flat for their own residence – we are only too happy to help. And a recent project in Halekulani, a suburb just inland from Budgewoi Beach, is a perfect example. And we think it’s the perfect way to start a career in cashflow-positive real estate too. Especially in such a great location.

Project overview:

  • Project description: Two-bedroom granny flat
  • Result: An asset that generates income from previously unused space in the yard of the owner’s own residence 
  • Project cost: $145,000.00, including DA approval and construction fees
  • Build duration: 12 weeks
  • Rental Return: Average rental return in Halekulani is $400/week, so this investment will quickly offset any mortgage repayments!

This premium-quality granny flat represents the start of the owner’s real-estate investment journey. And what better way to start a property portfolio than something with modest acquisition cost and great ROI.

The location

Halekulani (population: 2,500) is a beach-adjacent area on the shores of Lake Munmorah. Positioned 50 km from Newcastle and 110km from Sydney, both cities are not too far for easy access. And yet, the lifestyle in Halekulani is relaxed and attractive to older couples and established families. No surprise it is classified as a high-demand area.

Green, breezy and connected via the Central Coast Highway it’s a pleasant and convenient location. All shopping and services are available in neighbouring Budgewoi, just a 2 minute drive away. The open golden sands of Budgewoi Beach are just a few minutes further. As for the unusual suburb name, it comes from a traditional Hawaiian word. The meaning is “house befitting heaven” – pretty appropriate we think.

The project

Featuring calm and natural colours and timber laminate floors, this premium two-bedroom granny flat has a spacious open-plan living-kitchen area with ample storage room. Benchtops are in stone and they’ll be cool to the touch when the reverse-cycle split-system air-conditioner takes over on days when the lake or sea breezes aren’t blowing.

Luxury granny flat in Halekulani, NSW Living-Room

Luxury granny flat in Halekulani, NSW Living Room

As befits the setting, the granny flat has a classic weatherboard façade in a neutral colour palette. So, while the granny flat is an all-new build, it complements the surrounding houses. It’s simply a home that will attract the right kind of tenants.

Luxury granny flat in Halekulani, NSW Bed Room

Luxury granny flat in Halekulani, NSW bath room

 

The numbers

The project’s total cost was just $145,000 – and that includes CDC approval, materials and construction costs. And the project was completed in only 12 weeks. 

Now, as Halekulani is in high demand and offers average rents of $400 per week, you can see how the sums work out. In short, this is a great way to begin a journey down the great Australian adventure of property investment.

Choose Acrow Investments

Acrow Investments is a family-owned and operated company that has deep roots in the Central Coast region. That means you can trust us when we say we know how to deliver the best granny flat, duplex or dual-occupancy projects in Halekulani, or, indeed, anywhere across the Central Coast, Newcastle or Hunter Valley regions.

We pride ourselves on being trustworthy and delivering reliable results. Get in touch for a real discussion that can include site-specific advice and detailed quotes free of charge.

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