BARGAIN: Beachside home sells for $500k

PHOTO: Magnetic Island

A beachfront home, with water almost lapping at its door and located less than 10km from a major Queensland city has been sold for less than $500,000.

The property at West Point on Magnetic Island sold for a tenth of what buyers paid for a similar style two-bedroom beachfront shack at Palm Beach on the Gold Coast, according to realestate.com.au.

Best of Magnetic Real Estate sales manager Alex Strens said the property was bought by a couple from Springwood in Brisbane and was snapped up after the asking price was dropped to $495,000.

A beachfront home, with water almost lapping at its door and located less than 10km from a major Queensland city has been sold for less than $500,000. Picture: Realestate.com.au

“Psychologically, I think that (the price drop below $500k) made a huge difference,” Ms Strens told realestate.com.au.

“The price was attractive and the views are just spectacular.”

She added that the “off the grid” lifestyle was a hit for the buyers.

“They plan to use it as a holiday home for the next few years, and move up when work permits,” she said.

“Everything is included: furniture, TV, fridge, microwave, washing machine, linen, crockery, cutlery, gas oven, ceiling fans, screens, outdoor setting, deck chairs, it even comes complete with fishing rods,” the listing said.

It also comes with eco-friendly features including solar battery systems, a water tank and septic.

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The property at West Point on Magnetic Island sold for a tenth of what buyers paid for a similar style two-bedroom beachfront shack at Palm Beach on the Gold Coast. Picture: Realestate.com.au