Sellers cash in on striking renovation at Hamlyn Heights
A young family that upsized a three-bedroom Hamlyn Heights home through a series of renovations are leaving having doubled the suburb’s value growth over 10 years.
A young family that upsized a three-bedroom Hamlyn Heights home through a series of renovations will leave having doubled the value growth over 10 years.
The rendered brick veneer house at 10 Nalangil Ave sold for $774,000 after spending just 13 days on the market.
Whitford, Newtown agent John Moran said a Melbourne-based buyer had secured the property through a buyers advocate and would hold onto it as an investment.
The house occupies a 552sq m block near Sladen St.
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Records show the house previously sold for $275,000 in 2012, with the owners adding a rear veranda and a double garage in a renovation that also created a second living space.
Mr Moran said the beautifully presented home was ideal fodder for Melbourne and interstate buyers who are looking to capitalise by purchasing at the bottom of the market.
But records show the owners have done a pretty good job adding value to the property themselves.
The price growth on their original purchase price is nearby double the 93 per cent capital growth experienced in Hamlyn Heights over the past 10 years, according to PropTrack data.
The house retains its polished floorboards throughout, which tie together the updated kitchen with waterfall benchtops and stainless steel appliances that part of an open-plan space combining a dining and living zone.
A built-in TV unit, heater and built-in study nook are featured in the living room, while a formal lounge also features a built-in TV unit.
The three bedrooms each have built-in wardrobes and share a renovated bathroom with floor-to-ceiling tiles and a deep freestanding tub.
French doors reveal the outdoor veranda, with a timber deck features a built-in TV and bench seating beneath a gabled roof.
“It was low maintenance – there was nothing to do,” Mr Moran said.
He said the property was an obvious target for the groups of investors returning to Geelong.
They were obviously trying to buy at the bottom of the market and secure properties that would deliver strong growth, so houses with big land components.
“We had a number of buyers advocates. Buyers advocates are coming back into the market, and a buyer’s advocate did end up buying here. It was for a Melbourne based investor.
“You’re not going to get a better time to buy them now. So they’re all starting to come in here and try and snap up properties at the bottom of the market.”
Originally published as Sellers cash in on striking renovation at Hamlyn Heights