What the agent says…

Inside Out (Australia) - - Inside - Trevor Bowen the real­tor

O’Brien Real Es­tate Chel­tenham is less than 20km to the CBD and is a pop­u­lar bay­side sub­urb be­cause it’s well ser­viced by train and main road links and also schools – there are 23 within a 5km ra­dius. But new apart­ment de­vel­op­ments within walk­ing dis­tance of the sta­tion have brought sin­gles and young pro­fes­sional cou­ples into the area, which has led to good cafes and restau­rants open­ing. When peo­ple move here they tend to stay and up­grade to a big­ger house – I’m a good ex­am­ple of that be­cause when my fam­ily out­grew our three-bed­room home, we moved 13 houses away! Lau­ren and Max’s house is a lovely Cal­i­for­nian bun­ga­low in the pop­u­lar area of Chel­tenham, known as the ‘Golden Tri­an­gle’. It would ap­peal to cou­ples, small fam­i­lies or down­siz­ers at­tracted by only hav­ing a small lawn to main­tain. The im­prove­ments the cou­ple are con­sid­er­ing, such as ren­o­vat­ing the kitchen and bath­room, add value be­cause they’re the kind that you can see. They bought the house for just over $900,000 in 2017 but it should be worth over $1 mil­lion now. Im­prove­ments should add an­other 10 per cent. Is it worth them go­ing ahead? If they’re do­ing it to sell in six months, no. But, if they plan to stay for five to 10 years, then it doesn’t mat­ter be­cause they’ll ben­e­fit from im­prove­ments and also ap­peal to fu­ture buy­ers.

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