The rising cost of home renovations is helping fuel buyer hunger for already completed homes they can simply move into and enjoy, agents say.
Annie Need of Ray White Glenelg, who with co-agent Simon O’Donohue is selling 22C The Esplanade, Somerton Park, said the fact that it was in a move-in ready state had helped set it apart from others in the area, with the property attracting interest both locally and from interstate.
“We’ve only opened this one up to private inspections so far, we’ve had quite a lot of phone inquiry and there’s been interest from as far away as Sydney,” Ms Need said.
“We’ll officially open it next week but there’s been plenty of interest because of its position and the fact that there aren’t too many with swimming pools in that area.
22c Esplanade, Somerton Park. Supplied
The stunning pool area. Supplied
“There are still so many people yet to see it and many who are flying over for it, so we’re confident it’ll get a great price.
“A few people have said they love this place because they can just move in, not have to do anything to it and just start enjoying it straight away.
“People want something they can enjoy from the word go.
“And that’s right across all of the properties we’re selling, at all price points – people are attracted to the ones that are already done and already complete and where they don’t have to do a lot.
“The exception to this are the really affordable ones where people just want to get into the market – for the most part people are time poor and look to avoid renovation work if they can.”
The kitchen. Supplied
The view from the dining room and balcony. Supplied
Ms Need’s views echo those of Booth Real Estate agent Jamie Brown, who has recently placed a mansion at 11 The Avenue Medindie under contract for what he said will “comfortably exceed” the state’s current $13.5m record for a residential sale.
“We had very healthy interest in it, which I expected given how spectacular it is,” he said.
“Aside from what it is and its extraordinary location, I think the biggest lure and attraction was that it was all done.
“What I think has fuelled interest in this property and others like it is that the cost to renovate has more than doubled in six years, so you’ve got people who are looking at maybe renovating or doing major additions to a big old home currently who have had some quotes come in and they’re thinking: ‘My god!’.
“This is an attractive alternative because it’s going to cost a ridiculous amount of money to do that and it’ll be three to four years out of your life – so old character homes that have had major additions done already to them recently, the market is putting more emphasis on those options.
“Financially and mentally, it’s a more attractive alternative.”
MORE NEWS:
103yo seller farewells beloved home at auction
Adelaide home with X-rated feature that’s blowing buyers away
Adelaide homeowner to make $1.5m doing absolutely nothing
$74,500 more than last year – Adelaide home prices surge
How much you need to save to buy in every Australian suburb
Shock $20k hack changing Aussie lives
The Somerton Park home Ms Need is selling enjoys prime position on Adelaide’s coveted ‘golden mile’ and offers a luxe lifestyle in a contemporary build that has been carefully considered.
Mike De La Haye and his wife Margie bought the home in 1996, with Mike committed to over-engineering the property so it would stand the test of time.
“The home really chose me,” he says.
“Many moons ago, I used to walk along this beautiful beach. I used to dream of maybe having some of this ocean feeling myself.
“And when I got the opportunity, I seized it with both hands and built this house – one of the best things I’ve done.
“You get a really special feeling when you’re close to the ocean, and what I tried to do is maintain that feel in as many rooms in the house, including the entertainment rooms, and also, very importantly, the master bedroom and the kitchen. There are a lot of rooms that have that full view and therefore that ‘at one with the sea’ feeling. Wherever you are in the house, there’s something exciting to do.”
One of 22c Esplanade, Somerton Park’s stunning bedrooms. Supplied
The light-filled dining and living room. Supplied
The home offers some 483.5sqm of living space over its three levels and has five bedrooms, an open-plan kitchen, dining and family area; four balconies, a spacious lounge area, a double garage with a cellar and storage, and a resort-style rear yard with a pool and decked area.
“My favourite part is probably the central entertainment area – we’ve had some wonderful times based around this area, including all the children’s 21sts,” Mike says.
“We’ve even had a wedding. I’ve shared this house with many people, including my children.
“We went to a great deal of effort in being able to create a bit of a sanctuary, a green oasis, if you like, where we’ve to the sand and the summer feeling at the front and we’ve got a more of a sanctuary feel at the back with a swimming pool. And we’ve got some of the most beautiful gardens on this strip thanks to my beautiful wife Margie.
“There’s only one golden mile and we’re reliably informed by the people who walk past that our garden’s the best one on it.”
The view towards the kitchen. Supplied
The stunning rear yard. Supplied
With the couple now downsizing, they say they will miss their home, but not the area, as they have found another property on the same piece of coastline.
“I’m really not leaving where I love,” Mike says.
“Adelaide has got such beautiful beaches, and this arguably is one of the better ones.
“It’s a short walk to Jetty Rd and all that that provides, down to Brighton as well and that has enormous amounts of facilities, so, it makes for a great spot.”
22C Esplanade Somerton Park
Price: Contact agent.
Agent: Ray White Glenelg, Simon O’Donohue 0433 785 550, Annie Need 0412 551 988.
Land size: 432sqm.
Expressions of interest: Close Monday, June 8 at 1pm.
Inspections: By appointment.
English (US) · 