Smart buyer purchases new home at Somerset Park to escape rental cycle

A well-appointed three bedroom, two bathroom duplex home at Somerset Park master planned estate in Andergrove, Mackay, has been purchased by a motivated buyer looking to get out of the rental cycle into theowner occupied property market.

The brand new duplex was the perfect property for discerning purchaser Leah Henson and her son, who were attracted to Somerset Park for the estate’s high standard of planning.

Developed by Trinity Property Consultants, Somerset Park improves upon the master planned estate model, featuring a carefully planned variety of allotment sizes and high quality dwelling designs, guaranteeing the completed Somerset Park community will be a prestigious development.

Purchaser Leah Henson had a detailed criteria in searching for her new home, with a wish-list including spacious floorplan, quality construction andfinishes, convenient location and value for money.

Born and bred in Mackay, Ms Henson moved to Brisbane and Perth to further her career in the insurance industry before moving back home three years ago to be near family and friends.

Previously renting, Ms Henson decided to take advantage of record low interest rates and the affordable housing market in Mackay.

“I did my research and found the best time to buy is at the bottom of the property cycle as the market moves from stability to recovery – where Mackay is at the moment,” Ms Henson said.

“Prices are low at this point, providing for optimal capital growth as the market rises to the top of the cycle where you can sell for maximum profit,” she said.

“With interest rates being so low there isn’t much difference between mortgage repayments and rent and getting a loan was not as difficult as I thought it would be.

“I approached my agent, outlined what I was looking for and inspected several properties, but the Somerset Park home stood out from the rest – it ticked all the boxes being brand new, with the highest standard of construction and finishes, and low maintenance.

“It had everything I wanted – a spacious open plan design, fully tiled living areas, stylish stone kitchen and bathroom benches, quality fittings throughout, air conditioning in the living room and bedroom, professional landscaping, and a water tank which has helped reduce my water bill.

“Our new home is beautiful, there is plenty of room in the living areas, the kitchen is highly functional, the spare bedroom is very handy, and I love my bedroom and ensuite which is like my own little retreat.

“Somerset Park’s location is ideal for young families, with a bus stop at the front door and day care centres, schools, sporting fields, shopping and medical facilities all conveniently close by.

“It’s everyone’s dream to get out of the rental cycle and for me the most rewarding aspects have been achieving a personal goal and the security and stability of home ownership.

“There are no intrusive rental inspections or concerns about rent increases and having to move if the landlord decides to sell.

“We are planning to be here for the long term, we are excited about the future and see opportunities for growth in the region, particularly in the tourism and mining industries.”

Trinity Property Consultants developer Jim Relph said the most important investment anyone can make is their home and purchasers can be assured of consistent quality throughout Somerset Park.

“Buying in a well-situated, strategically designed master planned estate like Somerset Park offers peace of mind, knowing all homes will be of an equally high standard of quality, design and construction, close to essential services for a convenient and enjoyable lifestyle,” Mr Relph said.
TOTAL Property Group managing director and Somerset Park marketing manager Adrian Parsons said the investment and lifestyle appeal of strategically designed master planned estates was reflected by strong interest in Somerset Park, with Stage 1 almost sold out.

“We are seeing a lot of interest from first home buyers and young families taking advantage of the first home buyers grant, low interest rates and affordable housing market in Mackay at the moment,” Mr Parsons said.

“The Queensland government offers a Great Start Grant of $15,000 to first home owners buying or building a brand new home, plus a transfer duty concession depending on eligibility,” he said.

“First home buyers and young families are realising that rent is dead money and with the low interest rates a weekly mortgage repayment can be financially beneficial, as opposed to renting.

“Buyers can see the benefits of getting out of the rental cycle and investing in their own home in a family-friendly, conveniently located estate like Somerset Park.”

Somerset Park is situated off Bedford Road in Andergrove, in a prime location with a major bus route at the front door, six kilometres from Mackay’s central business district, modern marina and the city’s main beach, with Mackay airport a short drive away.

The estate is also surrounded by shopping, day care centres, schools, health care services, entertainment options and recreational facilities.

Somerset Park buyers can choose from a wide range of architecturally designed luxury three, four and five bedroom homes positioned on a variety of lot sizes, some with lake views.

Somerset Park will see 250 homes, duplexes and townhouses built across four stages over the next two to three years – a significant development for the Mackay region.

Information supplied by Louise Carroll Marketing

Smart buyer purchases new home at Somerset Park to escape rental cycle
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