Spending Big Bucks On Dumps

[icyfroth]

YOU’D think a $1 million plus price tag, would guarantee something with a touch of luxury.

Or at the very least a house with an inside toilet.

But in some of our most in demand suburbs, you are lucky to get something even livable for that much.

It’s all about location, location, location for these million dollar dumps

.

Buyers are prepared to fork out big cash to secure something in the right spot, even if it means they have to spend a lot more to make it livable or knock it down and rebuild.

Last year a “fixer-upper” at Wambool St, Bulimba in Brisbane sold for $1.2 million.

The house was believed to be one of the oldest in the prestigious riverfront suburb. It sat on a 1050sq m block and had three bedrooms and one bathroom. The new buyers intended to renovate.

WHILE it needed a bit of work, the three-bedroom house at Wambool St, Bulimba had great city views.

THE  house had remained untouched for years

ORIGINAL VJ timber walls and a fireplace, made it ripe for renovation. (check out the sewing machine)

Click Through Here for more pictures of more dumps being sold for big bucks

[designerarticles]

wow... so I'm just guessing that it's land value?

[j*oono]

I love that house!  Look at the kitchen, what a blast from the past.  Definitely a doer upper rather than a knock down.

[lakeland27]

i agree . real potential.

[debra9275]

I'd much rather see people doing up the old houses instead of pulling them down to build those awful Mcmansion things

[freshwater-2]

Apart from the location and good sized block, the house has a uniquely gentle character.   $150-200k would restore it beatifully. 

A pittance compared with the purchase price.

Plent of room for additional parking and sensitive extensions which enables them to knock down some inner non supporting walls. .

I am so glad the buyers are going to restore it and not put up another leggoland fortress.

Hopefully the buyers will get professional help in designing the restorations. 

[icyfroth]

Some of them are heritage listed, I believe.

[polksaladallie]

Wonderful house, but next to ugly units.   Wouldn't  be worth it IMO.

[icyfroth]

I don't think I'd do it up. I'd put a new house up with modern fittings in a heritage style.

[lakeland27]

i have a thing for old dumps. i love them the most when they are untouched like this one, i guess the fact that down here in mexico houses don't come in that queensland style is a big attraction . the paint prep for the exterior is not a job for the faint-hearted though.  i dont like them being let go so long .. the outside that is.