For as low as $299,000, there are some bargain fixer-uppers ripe for the picking across Australia, but giving these renovator’s delights a new lease of life will require some blood, sweat and tears.
With building costs skyrocketing and timelines blowing out in recent years, the case for taking on a 'fixer-upper' became harder to justify.
But demand for these rough diamonds appears to be heating up again amid growing confidence that building costs have stabilised.
PropTrack economist Angus Moore said while it's still a lot more expensive to build than it was five years ago, cost growth has slowed down compared to previous years.
“Relative to March 2020, the cost of materials for building a detached house are up 36% nationally, with pretty similar rises across the states.
“At the same time, it's taking a lot longer to build homes than it was pre-pandemic - the time it takes to build a detached house has gone from about 6.5 months to more than ten.”
For those keen to take on the challenge of a 'renovator's delight', we've found some epic opportunities across the country, from a Victorian terrace to a coastal abode sans kitchen, and a character cottage in a popular tree change locale.
Post war renovator in family orientated suburb
Buyer interest has been high in this 1950s post war built home in a popular street in The Gap, just 15 minutes from the Brisbane CBD.
Packed with potential but offering live-now condition. Picture: realestate.com.au
Set for auction later this month, 20 Romea Street is a two level home with a long list of features including four bedrooms, a big garage with a workshop, a rear balcony and polished timber flooring.
The bathroom and kitchen are in original condition, complete with a yellow bath and blue tiles.
The classic post-war era bathroom with blue tiles. Picture: realestate.com.au
Sales agent Karon Yesberg from Ray White City Living said the home was set in a good quality street, and some potential buyers had expressed interest in living in it until they could afford to demolish it and rebuild.
“There's a couple of couples that actually love it the way it is,” she said.
“And they’d raise it a little bit because it's a 1956 house, it’s in good condition so you can renovate it.”
Double frontage in prime Carlton location
The selling agent of 284-286 Amess Street, Carlton North describes the listing as offering “a lot of scope.”
Sure, it needs work, but the solid brick three bedroom, one bathroom Victorian Terrace home sits on one of Carlton's most beautiful streets within close proximity to cafes, bike paths, schools and universities.
This one is all about location, location, location. Picture: realestate.com.au
“It’s a double fronted block – its 390sqm which is not common,” sales agent Joe Pollina from Walshe & Whitelock said.
It is priced at $2,650,000.
Charming Cottage in tree-change town
Opportunities abound for a new owner with a bit of vision to transform this deceased estate in Hepburn, Victoria.
“It’s a nice elevated position, and a really decent sized block of land that could potentially be subdividable in the future,” listing agent Tom Shaw from BigginScott Daylesford said.
The character-filled cottage sits in sought-after Hepburn. Picture: realestate.com.au
“It is 1000sqm, and the house is situated towards the front of the block.”
Comprising of two bedrooms, as well as a study or storage room, the kitchen, although functional, could do with a new lease of life.
There is also a rustic outdoor bathroom with a bath.
Surrounded by lush gardens, the quaint cottage is packed with character. Picture: realestate.com.au
Mr Shaw said the property has attracted a good level of interest, particularly from those seeking a tree change opportunity where they could put their “own stamp” on the home.
“There's a lot of native wildlife and things… it’s got a real charm about it. It just needs someone with a bit of vision to come in.”
The home has an asking price of $545,000.
Blank canvas by the seaside
With an interior in dire need of some TLC, this beachside Swansea home in Tasmania offers endless renovation opportunities.
“There's no kitchen, so they can actually do the kitchen and the bathroom as they please,” sales agent Leanne Dann from Elders Real Estate Hobart said.
“Basically, they've got the shell, and they can actually do what they wanted as far as flooring and paintwork goes.”
The home offers a perfect 'shell' for renovators to create a coastal haven. Picture: realestate.com.au
Set on a set on 785sqm block, there was potential to extend the two bedroom, one bathroom home or build an additional building pending approvals.
“It’s a large block in a fantastic location in the centre of town, close to the hospital and shopping,” Ms Dann said.
2/6 Arnol Street, Swansea is on the market for $600,000.
Visionary’s dream project
The listing notes this home in the Adelaide suburb of Fulham Gardens would “respond to a modern renovation, allowing you to create the home you've always wanted.”
Its adaptable design offers the potential to completely close off the rear of the home for use as a fully self-contained flat.
The property sits on a corner block just minutes from the beach and local shops. Picture: realestate.com.au
Sales agent Damian Popowycz from Agency Avenue said the property offered a lot of potential for subdivision and renovations.
“Being a five bedroom home …it's going to appeal to a variety of buyers,” he said. “Fulham Gardens has always been a very popular location. It’s always been a highly desired suburb in the west.
Plenty of scope to modernise the solid family home. Picture: realestate.com.au
“This is very close to the border with Henley Beach … it’s a good spot for family homes.”
11 Ascot Court, Fulham Gardens will be auctioned on August 30.
Cheap Kalgoorlie fixer-upper
Advertised as offering “great promise” this two bedroom, one bathroom home in the regional WA town of Kalgoorlie is on the market for $299,000.
“It’s subdividable,” sales agent Larissa Todd from Professionals Platinum said.
Listed for $299,000. Picture: realestate.com.au
“If you wanted to keep it on the one title you could subdivide it into two and put another property at the back, or if you wanted to you could knock down the whole property and start again on the big block.”
There is potential to breathe new life into the home itself, which includes an open plan kitchen and dining area, a wood fire place, a small rear patio and an outside toilet.
Located at 13 Hanbury Street, Kalgoorlie, the 986sqm block also has rear lane access.
English (US) · 