Builder’s own coastal renovation scores $ 815k elevation in value – realestate.com.au

The own renovation of a builder has added more than $ 800,000 to the value of a boarding house that was purchased in the middle of Covid Lockdowns.

Three buyers from the city rode the competition for the refurbishment of 12 Somerdale Ave, Ocean Grove, with one paid $ 1.4 million to get the house with three bedrooms from the market.

The result defeated the Top Prijshoop of $ 1,395 million and sets a new benchmark for a street that only achieved its first million-dollar sales earlier this year.

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Atla constructions transformed the former house with two bedrooms.

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It is unrecognizable from the moment it is last sold in 2020.

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Data shows that the house is last sold for $ 585,000 in July 2020.

Fletchers, Ocean Grove Agent Dan Halsey, said that one of the owners of Atla largely rebuilt the existing home in the 633m² real estate to create his own family home.

A new pavilion with a slightly filled, open living zone with manipulated oak floors and cathedral ceilings, a study corner and a large bedroom suite is the center of the renovation.

“Originally it was only a small two-room, single living, a single bathroom, it was small,” he said.

“They kept the brickwork of that original Build, but they pulled out the roof, they pulled the walls back to the studs. They kept one of the wet areas, but it was essentially a brand new build – about 80 percent of what you saw was new.”

The kitchen has a Smeg Wall Oven, Westinghouse Induction Cooktop and a Butler’s Pantry.

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A fireplace fireplace puts the scene for entertainment in the landscaped garden.

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Wood accents are provided in the main bathroom.

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A single garage and a brick paved entertainment room with a fireplace included fresh additives.

Mr Halsey said that the renovation not only pulled buyers from Ocean Grove, but also Geelong and Melbourne.

The sale was packed before the third planned open house, with the buyers of Melbourne plan a permanent relocation.

“It was an extremely stylish and well -planned an executed house and so close to the beach,” he said.

The average time on the market for houses in Ocean Grove is 72 days according to Proptrack, which has led to complacency in some buyers when good shares are mentioned.

But Mr Halsey said that the tide could turn from a buyer market after two years.

“What we find in recent months is the reintroduction of buyers and investors in a holiday home, largely from the city,” he said.

“They come back and put a bit of pressure on the locals.”