…a 3BR Period House for $406,000 on the city’s edge in Geelong…

Amy and I had an exciting brief with two fantastic investor clients. The challenge for us all was based on their possible future plans…. they were prepared to do some hard work, didn’t mind travelling long distances each weekend with young children in tow, and were sensible about every aspect of the strategy. They hoped to maybe live in their property one day though… a tough brief.

They loved period houses. They had a budget of $425K inclusive of renovation works.

  A stronger yielding, historical city with great schools and transport amenity was our most suitable option, and with not-too-much soul searching required, a couple of visits to Geelong gave them comfort that this was the best strategy.

Our searches and conversations with local agents yielded quite a few options in the sub-$420K range, and after an auction heartbreak in Geelong West and a few rejected options presenting structural issues, we intensified our search radius to the eastern side of the city.

A stroll into the city centre, a 500m walk to the train station, and even a quick break with the children over to the Eastern Beach waterfront precinct could be easy done without requiring a car. The rail commute to Melbourne’s CBD is becoming an easier journey now with the Western Rail upgrade. And Geelong’s waterfront precinct attracts visitors and locals all year round and is a particularly delightful way to spend a Sunday.

When the McKillop St property came up for sale, they just knew it could be ‘the one’.

The property smelled from past tenant’s cats. The wallpaper was peeling. The kitchen was dated and the bathroom was blue. But the land was large enough for a family to enjoy for years, the floor plan presented a great canvas and the location was right in the heart of the search band. When Amy secured the property for $406,000 on auction day we were thrilled for our wonderful clients.

They had executed a strategy that ensured their ‘Period House in the city’ dream could become a reality.

Moving away from Melbourne is not something to be taken lightly, but when we consider how many hours we spend on commuter trains getting home of an evening to the suburbs, this sea change idea starts to make a lot of sense for some. Their children may grow up in a friendly waterfront city with every amenity easily accessible by foot.

And Amy vouches for the cafes. Now that’s saying something.