It's important to remember there are markets within markets and this would be one of those stories.
Recently my wife and I purchased a property in Mooroobool. It was a diamond in the rough that's for sure but the 'bones' were good.
To share a few points that can be transferred from this renovation to another are;
- Location = proximity to city centre (not amenities)
- Gentrification = is there any signs present in the surround streets?
- Building = is it solid or are the defects easily remedied?
- Paint = easy inexpensive option to clean up any house (inside and out)
- Landscape = yard cleared is another good way to clean up any property
Check out these 'before and after' images - this exercise cost $27,000 in total & the equity harvest was $100,000. The big takeway for us that we wanted to share with you is 'stick to the budget!'