A young professional couple recently bought a two bedroom apartment in Richmond. They looked at two virtually identical units only a few hundred metres apart in the same street. The first property was really well presented and the auction was well attended. The second property was vacant and looking a bit tired, there were only two other bidders at the second auction and they bought it for $35,000 less. The couple spent $250 on paint, and after a long weekend cleaning and painting their unit looked just as good as the first one. Smart buyers, but what does it say about the sellers?
The owners of this three bedroom, study, two living areas, two bathroom home with a massive deck in Emerald on half an acre were no longer living in it. Before moving out they cleaned and painted and had the house and gardens looking neat. The house was on the market for five months and the buyer feedback was that it was beautiful but the rooms were too small. After we staged it the house sold in three weeks.
Investors had rejected this three bedroom, two bathroom home in Cockatoo because it was too run down. We could see its potential so we bought this home ourselves and staged it. The very same investors ended up buying it from us for an extra $49,000 after we’d spent three weeks and $9,500 staging it.