A Wantirna South couple were yesterday left “gob smacked” after their home of the past 12 years almost made them multi-millionaires.
Peter Thompson was listening through the door as his 14 Allenby Ave home went under the hammer, but didn’t quite know what to think after it soared to $1.972m.
“We are quite surprised,” Mr Thompson said. “We were hopeful it would go for around the top of the range. But obviously it went significantly more than that.”
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The home had been listed with a $1.4m-$1.54m price guide and had a reserve at $1.55m. But despite a $1.4m opening offer there were five bidders who had other ideas.
Mr Thompson said they’d started celebrating when the auctioneer said sold, but was last night planning to take his wife out for dinner to continue the revelry.
He added that while they were glad they’d followed advice from their real estate agent closely, ensuring the home’s outdoor spaces had looked “spectacular” and getting the home staged had “made a big difference”.
Barry Plant Wantirna auctioneer Chris Hodge said he’d only ever sold one home for more above its reserve, but was more blown away with yesterday’s result given higher interest rates and cost-of-living difficulties.
“I knew it was going to go well, but not that well,” Mr Hodge said.
“This would be one of the highest I have ever seen.”
Incredibly, the sale could have been even bigger — with one of the strongest contenders pulling out on the day of the auction.
“I had eight lined up to attend, and a few didn’t show,” Mr Hodge said.
The keys went to a younger couple, though it later emerged they were bidding on behalf of their parents who were overseas.
Mr Hodge said while the 12-year-old home’s immaculate condition that felt like it was brand new had been a key factor for many buyers, even owners of older homes should heed the result.
“In most cases renovations are quadrupling your investment,” he said
He advised prospective homesellers to ask local agents where to focus on for an update to their home.
In the Wantirna region, Mr Hodge said he was seeing the best returns for money spent on bathrooms, kitchens, fresh paint and updating lighting to LEDs to ensure the home was bright.
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