It comes with access to a pool, barbecue facilities and no water and council fees. But best of all, weekly mortgage repayments on Australia’s cheapest capital city home will cost you less than a night out at the movies or a slab of Coronas.
Listed with a bargain price tag of just $42,950, 11/565 King Rd, Virginia is Australia’s cheapest residential listing on realestate.com.au, setting buyers back a mere $38 a week in mortgage repayments. That’s based on a 20 per cent deposit of $8590.
However, there’s a catch.
11/565 King Rd, Virginia
11/565 King Rd, Virginia
The one-bedroom home is set in the Virginia Gardens Residential Village – a 25 minute drive from Adelaide’s CBD, and as such is subject to park rates – $120 per week for singles and $138 per week for couples.
On the upside, the new owner will have access to all facility features, including an inground swimming pool, barbecue areas, and there are no water and council fees.
As for the home, the weatherboard house features a master bedroom with built-in robes, a bathroom, a large living space, and a separate kitchen with storage, and an electric oven and cooktop.
11/565 King Rd, Virginia
11/565 King Rd, Virginia
There are also two small lockup sheds and garden beds to the front of the property.
Selling agent Katrina Nelsen on LJ Hooker Gawler said interest in the property was coming in thick and fast.
“I’m actually really surprised by the amount of interest we’ve had in the property as it’s not your standard home. Then again, it’s really cheap,” she said.
“Personally I think it would be perfect for truck drivers, FIFO workers, or someone separating or going through a divorce, needing a place to stay.
“I’ve also had some interest from singles. There are a lot of market gardens in the area, so it would be the perfect spot for a person looking to for work.”
11/565 King Rd, Virginia
11/565 King Rd, Virginia
As the home is located within a residential village, Ms Nelson said the prospective new owner would have to be approved by management.
“Apparently it’s a close-knit community out there and everyone gets on really well,” she said.
“You also won’t be able to lease it out as a holiday unit. They (management) want someone to actually live there.”
Virginia is a northern suburb in the Playford Council Region. According to CoreLogic, the suburb has a median house price of $275,000.
This article was first published in www.realestate.com.au. Here is the link to the original article: https://www.realestate.com.au/news/australias-cheapest-home-will-cost-you-less-than-your-weekly-corona-six-pack/
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