On a generous whim Tom bought this three bedroom weatherboard cottage in 2009 for his 21 year old son who was on an overseas holiday. He paid $476,000 for it and thought he’d bagged a bargain but unfortunately his son didn’t want it. This was a kid who had other plans for further travel and wasn’t ready or willing to take on a mortgage. So three months later it was back on the market with an asking price of offers over $500,000. An offer duly came in for $510,000 but Tom knocked it back assuming the market was on the rise. But since then he’s had no further interest, perhaps because the property looks sad, dated and dowdy. With a decent makeover budget of $25,000 the house is transformed and the agent confident it will sell at auction, finally freeing Tom of the burden.
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