One of many least expensive four-bedroom homes to promote in Highton this 12 months sparked a hotly contested four-way public sale.
The 659sq m Cortland Drive property bought for $631,000 on Saturday because the quartet contested the keys to the Seventies brick veneer home.
The sale value, which was $51,000 above the $580,000 reserve value, was a smidgen over the bottom value paid for a four-bedroom residence within the southern Geelong suburb in 2022, data present.
It was a easy determination for first-home patrons Chelsea and Kane Lofts.
“I feel 4 bed room, two lavatory in Highton (for lower than $660,000) is a no brainer actually,” Mr Lofts mentioned.
He mentioned they might undoubtedly renovate.
“I’m a carpenter, so our plans for are fairly in depth internally,” he mentioned.
“Take away just a few partitions, (to create) open plan residing, lavatory renos, and a brand new kitchen.”
Buxton itemizing agent Max Hardwick the house clearly wanted a good bit of labor.
Auctioneer Ben Riddle mentioned it was the very best alternatives to purchase within the suburbs.
“I’d by no means thought I’d see the day the place houses on 660sq m would have expectations of under $600,000,” he mentioned.
“We all know it wants work, we all know it might do with a renovation, we all know it could want something between $20,000 to $200,000 price of labor.
“What we do realize it the final block of land that bought across the nook final 12 months was $640,000 on a block that was smaller than this.”
“You’ve acquired an excellent suburb to purchase into, you’ve acquired nice education at your fingertips and what we provide right here is easy land worth.
“There’s a house right here, you are able to do what you want with it. You possibly can add as a lot or as little as you wish to the property itself.”
Mr Riddle opened on a $500,000 vendor bid earlier than the public sale acquired underway at $510,000.
4 bidders contested the property, although as soon as it was declared in the marketplace on a $590,000 bid, simply two participated till it was knocked all the way down to the profitable bidders.
The home was provided to an astute purchaser to replace, modernise or lengthen and develop its future worth.
The basic brick veneer has a double carport on the entrance, with a proper lounge room and sitting room related to the unique kitchen and eating space.
An enormous storage and workshop is in the back of the block.