Magical Maggie offers a wonderful lifestyle at a price that’s sure to please

first_imgMagnetic Island . Picture: BarekiwiLOCATED just 5km off the coast of Townsville is one of Australia’s best-kept secrets – the tropical paradise that is Magnetic Island, writes REIQ Townsville zone chairman Wayne Nicholson. Named by Captain James Cook, the story goes that his compass went haywire as he sailed past the island and so he named it Magnetical Island. Today, we know it as Magnetic Island or just plain Maggie. I have been going to Maggie for more than 60 years, along with many, many Townsville residents. There are permanent residents on Maggie who make the 20-minute commute to the mainland every day for work, using one of about 18 daily ferry services. Imagine the life. Some are fortunate enough to have a holiday house or unit on the island, providing them with a paradise escape whenever they have the opportunity to take a break from work and the daily grind. Whenever I spend time on Maggie, I feel as though I’ve come to a different world. I often tell people when I am leaving Maggie that I am going back to Australia because island life truly feels like a whole other world.Being a property fanatic, I keep an eye on Maggie’s property prices and I am constantly amazed at the low prices for some outstanding residential real estate that can be found there. More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020If you are looking for an investment property that you can also use from time to time, I would strongly urge you to consider Magnetic Island. A quick chat to the REIQ agents on the island will help you learn more information about the rental returns and holiday letting options that are available. The vacancy rates are down and inquiry for rental accommodation remains strong. Picture this, you buy a property on the island while prices are down, finance it while bank rates are low, and use it yourself for holidays or multiple weekends throughout the year. With some careful planning, it’s possible to have your rates and/or body corp fees paid off by rental or holiday income.If this sounds appealing, why not give one of the REIQ agents on Magnetic Island a call and investigate something that you never thought was possible.And if you haven’t been to Maggie for a while jump on a ferry and cross the “paddock” to one of Australia’s best-kept secrets. It’s one of the best moves I’ve ever made.last_img

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