Geelong public housing flip gets amazing result
Sellers who have flipped a former public housing property they bought when it was boarded up with graffiti sprayed inside stand to pocket tens of thousands from its resale.
The three-bedroom house at 15 Redstone Court, Whittington, was originally listed in April in as-is condition when Homes Victoria, the state government housing agency appointed Newcomb agent Luke Bennett to sell the 599sq m property.
RELATED: Grovedale a step up for buyers getting out of housing estate
Three bid for classic home at rare Geelong waterfront position
Stumble out of the blocks: Team demolishes wrong room
The windows were boarded up and neighbours said the last occupants were squatters who were chased away by police.
Mr Bennett’s marketing described the interiors as providing the ultimate makeover project for renovators, with the three-bedroom home featuring a living room and dining/kitchen zone.
He eventually found buyers in May, who paid $350,000 for the property.
They’ve just put it back to the market having renovated the house inside and out, from reboarding the roof, gutters, repainting and caulking the exterior and replacing all the glass, to a full refit inside.
Harcourts North Geelong agent Eric Ly, who has listed the property with a $469,000 to $515,000 price guide, said the owners – both in the building trade – had completed the project in about 60 days.
Mr Ly said the vendors were experienced in turning properties around and had touched almost every aspect of the house to bringing it back to market.
“They did downlights and a couple ceiling fans throughout because they also dropped the ceiling,” he said.
“The ceiling was already falling, so they’ve just dropped it all to in order to put up a new one and bit of panelling in the lounge as well.
“There is vinyl plank flooring throughout the house, carpet in the bedrooms, and fully painted the whole house.
“They took out the old kitchen and the bathroom.”
Mr Ly said they had connections to tradies such as plasterers, electricians and plumbers, as well as prices for new cabinetry and fittings that even Bunnings couldn’t match.