There’s probably no better proof than this:
http://www.realestate.com.au/cgi-bin/rsearch?a=o&id=102230964
$80,000+ for a beach hut on land you can’t buy and for a hut which you probably couldn’t rent.
My online investing diary: http://retireyoungandwealthy.blogspot.com/
hi tokyo,
You are very quick to make a judgement on your own incorrect assumptions……. dangerous combination when dealing with money.
Beach huts are VERY limited in supply (my guess is less than 100 with no new ones being built recently as far as i know), and with the seachange due for our babyboomers, there are going to be lots of people(hundreds of thousands) with a lot of spare time on their hands who would love a box at the beach. $80k is just a couple of recent years cap. gains for a lot of homeowning suburbanites that are due to downsize their house anyway for retirement…..
Can I ask what your thinking when you came up with your post?
Live, Learn and GrowLifexperience
Originally posted by lifeX:
can I ask what your thinking when you came up with your post?Not a whole lot LifeX, can’t you tell?? [eh][blink] [eh] It is probably the most ignorant post I have read in the time I have been here; anyone who knows anything about the beach culture of this country, and the history, purpose and advantages of owning a beach box (in places such as Brighton) will know the value associated with such investments and would never make a mockery of same!!!
TokyoJoe, next time you slag off about something you obviously know nothing about, it might pay to do a little research to support your argument, otherwise you stand to look (as you have done herewith) quite foolish.[blush2]
Whats $80k when the average homes in that area are $1m.
We live in Aspenndale about 400-500m to the beach. I have oftenn considered buying one as we are walking distance to the beach. Now they are around $60k.
No need for us to buy a beach house holiday home. My wife goes we should buy something up bush – we live near the beach why buy a holiday house near the water.
Those beach huts are ok.
I may have my wires crossed, but I think I remember one of the Brighton boxes selling for $120-130k a few years ago….Does anyone recall?
Yes, I guess I was a little quick there with my judgement. Hope you don’t take it too much the wrong way
Got home from work and saw this property emailed to me and couldn’t believe how much it was worth.They are now very much a Melbourne icon, but I was questioning is it really worth the money if you can’t own the land, or can you? Could a change in laws see you loose your invest? Of course, I doubt this would happen as there are probably a lot of influential people who own these places.
If anyone knows the result please let me know.
My online investing diary: http://retireyoungandwealthy.blogspot.com/
Originally posted by TokyoJoe:
They are now very much a Melbourne icon, but I was questioning is it really worth the money if you can’t own the land, or can you? Could a change in laws see you loose your invest? Of course, I doubt this would happen as there are probably a lot of influential people who own these places.Do you own the land when you buy into a commercial business?? Or what if you buy a caravan and it is within a caravan complex?? Did you know you don’t own your front nature strip, you can’t plant anything on it and councils demand you mow it or they will do it for you and bill you accordingly??!! No you don’t own the land, beach boxes are generally strategically positioned on sand, and unless you’re planning to buy the entire beach, all you doing is parking there!!!
There are rules and regulations associated with beach boxes; I don’t have them at my fingertips atm sorry, but I believe it is not as simple as shifting the sand from underneath you!!! Yes SOME “influential” (for want of a better word) and some not so influential people own them but they do so predominantly for leisure, convenience and storage (ie. a place to change, keep their swimming gear, surf boards etc) and the ironic thing about it all, some of these people actually own beachfront properties!!!
Do a search of the net on beach boxes and you will find that ownership is also popular with historians; those who own them because of their of nostalgic value. Try this for starters:
http://www.bayside.vic.gov.au/bathing_boxes.htmWoodsman,
You’re correct, there was a woman who sold her Brighton beach box a couple of years ago (on Auction Squad) for $150K.[biggrin]
Cheers,
Jo
Originally posted by Monopoly:[Did you know you don’t own your front nature strip, you can’t plant anything on it and councils demand you mow it or they will do it for you and bill you accordingly??!!
Insider tip – in Victoria at least, there is no legislation which can be enforced to make a property owner mow adjacent nature strip. I’m not too sure about other states.
Cheers, F.[cowboy2]Go easy guys.
At first glance a box like that would look like a bad deal. But a lot of good deals go unnoticed because of the unweary.
I would consider buying a box just to put my windsurfer in as I havn’t found a beach house close enough to the water that I could afford!
Perhaps I could rent it out to other surfers/windsufer types and make some money?
Regards
SimonRegards
Simon
Got home from work and saw this property emailed to me and couldn’t believe how much it was worth.
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