TO own a piece of residential “heaven” at Lake Tinaroo is a dream for many, which has just been made affordable thanks to a new property sharing scheme.
Edgewater Tinaroo’s scheme labelled Chalet+Share allows multiple buyers to share one of seven recently released lots at Lake Tinaroo from about $60,000.
The waterfront lot will feature a luxury home on a minimum of 4000sq m, on the edge of the lake.
The idea for the program, which is led by Edgewater’s director and developer Tim Wright, was born from a yacht sharing scheme.
Edgewater Tinaroo is offering a new property sharing scheme which will allow mulitple buyers to own and share a luxury house at Lake Tinaroo on a 4000sq m block.
“I loved sailing but could not afford it and did not want to have my money tied up in my own yacht that I only used from time-to-time due to work commitments,” Mr Wright said.
“I love the Tablelands and I understand that many people simply cannot afford to purchase a lot, build a home and then use it as a holiday home at Lake Tinaroo, so I launched Chalet+Share.”
He said a fully furnished luxury home and the land would cost $1.2 million and the idea was that each owner’s share entitled them to a maintained and serviced holiday house for a certain period each year, until it was sold and the owners received their share back.
“Chalet+Share will seek 20 owners at $60,000 a share so the chalet will be fully owned. This will entitle each owner to around 18 days a year comprising weekends and weekdays, all done over the net with a great booking calendar.
“So yes when it is sold say in 10 years’ time, they will get their share proceeds back.
“All money subscribed will be held in a solicitors trust account.”
He said while there would be ongoing management costs for maintenance, owners also had the opportunity to sell their share in the chalet at any point.
He said the luxury six-bedroom house would be built in three modules of two bedrooms each.
“So three families could all enjoy the house and holiday at once but still have their own privacy during their stay.
“No stone for owners’ security and enjoyment will be left unturned. The owners will get a beautiful, luxury home”.
Edgewater is now accepting expressions of interest, or for more information visit edgewater-tinaroo.com.au
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