| Well these little beauties may not be the buy they | | | | money there to be made. Depending on the area |
| used to be. You may ask why, and I am going to | | | | in which you want to purchase your 'renovator's |
| explain. The prices of renovator's delights and | | | | delight' you can find it easily online at the many |
| handyman's delights are strengthening in line with | | | | sites that are able to be found. Furthermore, if |
| the rest of the housing market. Modernizing | | | | you buy at the right price you can make a profit. |
| terrace houses and revamping older style homes | | | | I have been searching for 'renovators delights', |
| has become so popular that they are being sold | | | | and found online online. Both are they types of |
| for record prices. It seems true that all the | | | | houses that would be excellent to renovate. They |
| agents need to do is list a property is derelict, | | | | are close to the CBD and are on large pieces of |
| wreck or unrenovated and the buyers come | | | | land. If you are hankering to do some renovations |
| running. | | | | log on to au and take a look at their listings. |
| For instance a three-bedroom terrace house in | | | | Another site which I though was interesting was |
| Chippendale, on Sydney's city fringe, sold for | | | | where I found thousands of real estate and |
| $160,000 above its reserve price. It had no | | | | property listings in Australia wide and some great |
| kitchen, bathroom, or parking and the auctioneer | | | | articles that spoke of refurbishing property before |
| expected to get about $525,000, but enthusiastic | | | | selling. Search by property type, or use the quick |
| bidders took the price to $685,000 at a recent | | | | links. |
| auction. Thirty people registered to bid for the | | | | This sort of buying is not for the faint-hearted - |
| property. My estimates are that to put in a | | | | you do need to do a lot of work yourself. |
| state-of-the-art kitchen and bathroom with the | | | | Generally, the new kitchen and bathroom are the |
| best of appliances will cost a minimum of | | | | major costs involved. Builders often look at these |
| $100,000. A tastefully renovated house in a good | | | | homes, though it could suit first-home buyers up |
| street is worth about $750,000 to $800,000. For | | | | for a challenge. What you have to remember is |
| the average person, to buy that house at | | | | that there are no guarantees with a house that |
| $685,000 and then have to spend a small fortune | | | | needs renovating, and the costs may outweigh |
| on renovating, is ridiculous, because there is no | | | | the problems involved. |