However, this is definitely not a blanket rule for every vendor, as many buyers in today’s market are looking for a ‘blank canvas’ type property that allows them to start from scratch in adding all of their own preferred enhancements.

We saw another prime example of this at this weekend’s auction in Caroline Street, Thomastown (pictured). This property was marketed as ‘a Thomastown original’ and was offered for sale by its original owners without modern enhancements.

The level of buyer interest in the weeks leading up to the auction suggested that there was good interest in a property that had been well maintained but was in largely original condition, with a mix of local investors and first home buyers showing the strongest attraction. However, few of the large crowd of onlookers would have expected the serious competition that took place, with a total of six bidders raising their hands and several more who didn’t get the chance.

A competitive market did the rest, with the auctioneer’s gavel finally falling at a remarkable $720,000, that’s a full $100,000 above our excited vendor’s reserve price!

Results like this show just how important it is to get experienced and objective advice from someone who really knows your local property market BEFORE you start spending your hard-earned at Bunnings. As our vendors at Caroline Street discovered, the right advice can not only get you a massive result, but it can save you a lot of money along the way as well.

So if you are thinking of making a move in 2021, be sure to get that advice yourself. You can call the team at Barry Plant Thomastown any time on 9466 3233.

Regards,

Con Constantinou

Barry Plant Thomastown