A Place in Paradise with Home Scouts
Always dreamed of retiring to Noosa? With today’s fast-moving real estate market, it pays to put a plan in place so you can secure a home now and benefit from the gains that come over time. Rebecca Jamieson Dwyer chats to buyer’s agent Bronwen Stacey for expert advice on turning coastal retirement aspirations into reality.
With its stunning natural vistas, renowned foodie scene and thriving cultural community, Noosa has long been a mecca for retirees when it comes to choosing the perfect place to spend their golden years.
But the secret’s officially out, and in recent times, more and more people from interstate, Brisbane and beyond have made the move northwards to bask in the beautiful glow of the Noosa lifestyle.
It’s something that Noosa-based buyers’ agent Bronwen Stacey of Home Scouts, who has a passion for helping both local and interstate clients, has noticed as a growing trend.
“I’ve seen a changing demographic in the north Sunshine Coast region where more out-of-town buyers are committing to the area than ever before,” she says. “Enquiry is up substantially from interstate purchasers and this is reflected in the most recent Regional Australia Institute Regional Movers’ Index Report showing that the Sunshine Coast is the top regional area across Australia for migration.”
The best advice Bronwen can give if you’re planning to retire to Noosa, is to buy property as early as possible, getting your foot on the local ladder so you don’t miss the market if prices start to spike beyond the average buyers’ reach.
“If you know you want to eventually move to Noosa, then the time to buy is right now,” she explains.
“Savvy property buyers are planning early for long-term retirement in the area by buying a property while their children are still growing up, and retaining the property until retirement – at which point they move in or sell down and utilise the equity gain to buy something else in the same market.”
It’s an approach that makes sense when you consider how prices in the region have performed historically.
Go back to 1993, and the Noosa Heads median price was around $180,000; now, 30 years later, it’s a cool $1.75 million.
So if you’re looking to make Noosa home in your retirement years and enjoy holidays in the region in the meantime, we asked Bronwen to shed some light on the key considerations to be aware of.
Asset selection is critical.
“Aim for a home in a location that will appeal to you both as a holiday-maker and as a potential retired resident. Seek lifestyle, but also consider facilities and services within proximity of the property. Even different streets within the same suburb can be vastly different.”
Choose an adaptable home.
“Consider the layout and utility of the existing home. If it’s going to be impractical in retirement – for example, if there are too many stairs or it’s too big, you need to know if you can change that through a renovation in the future. Also consider the land’s attributes, particularly the slope and maintenance.”
Choose a property type with excellent capital growth potential.
“Detached homes within proximity of the water do well in terms of capital growth, but there are many other local factors that expert buyers’ agents know to look for, such as major road noise, bushfire risk or pending developments that could adversely impact the property in the future,” Bronwen said.
“This is where many non-local buyers come unstuck.”
Seek suburbs with strong community ties, support services and networks.
“The close-knit Noosa community is a huge bonus for people who retire here, but the different suburbs have their own feel, and some might suit you more than others. A buyers’ agent can take out the guesswork by matching your personality with a suburb that is perfect for you.”
Know your budget.
“Work with your financial planner to ensure you’re investing the right amount for your long-term goals. You must be able to comfortably service the loan and ride out any tough financial periods – for example, if you’re looking to holiday-let the home, you should factor in extended vacancies during non-holiday periods.”
Define your timeframe.
“Work out how long you will be holding the property for as a holiday or rental home, and when you’d like to eventually move to the area and enjoy everything retired life in Noosa offers. This will help inform your budget and your long-term plan for the property.”
Think about your interests and lifestyle preferences in retirement.
“Do you love eating out? Being part of a creative scene? Getting up early to surf, kayak or paddleboard? Noosa has it all! Seek a property with ready access to the things that are important to you, so you can enjoy not only your holidays, but also your post-work years.”
Think about transport options.
“Access to major roadways is good, but you may be relying on the bus and train more in your later years, so be sure to factor in proximity to public transport.”
Think about the services, facilities and social networks you might need to rely upon now and in the future.
“As you age, proximity to things like medical centres, community services and grocery stores become vital. Choose a property that enables you to access these easily and remain independent in your later years.”
Don’t go it alone.
“When it comes to making one of the most important decisions of your life – one that has the power to radically shape your future – it pays to enlist a trusted industry expert who knows the intricacies of the areas, the agents and the market, and is working to secure you the best possible result. I like to think of it as the greatest gift you could give to your future self!”
