Total Project: Up to $500,000
We were buying for one of our company directors who was (and always is) keen to create equity quickly through renovation.
The three bedroom home we were looking for needed to be purchased at a great price, and in need of work. Plus it needed a floor-plan that offered a lot of potential.
We found an off-market three bedroom home in a fantastic location. It was vacant and in need of some renovation TLC. We negotiated prior-possession to renovate, with 90% of the works being completed before the clients officially owned the property
Median House Price = $580,000 (at time of purchase)
Historical Growth Rate = 6.60%
Vacancy Rate = 1.89%
Distance to CBD = 13 km