House and Home Design - Realestate Passion
A RENOVATED two-bedroom house on a quiet Hamlyn Heights street proved too good to resist for newlywed neighbours.
David and Sonja Zamperoni bought the updated weatherboard house at 23 Logan St for $475,000 on the morning after they were married.
Mr Zamperoni said the couple checked out of their Melbourne hotel early on Saturday to make the 10.30am auction opposite their own home.
They then headed on their South Pacific honeymoon.
Mr Zamperoni said affordability was the key reason they were buying their first investment property in the city.
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“We come from Melbourne. I work in Melbourne and I’ve lived in Geelong for about a year and a half and we’ve been here for about a year,” he said.
“We just got married yesterday, we came back from the city for this.”
The couple was one of two bidders for the house, which had been offered with a price range of $420,000 to $450,000.
McGrath, Geelong auctioneer David Cortous said the house was value for money.
“Look at what’s going on through Geelong — if you’re a first-home buyer it’s a fantastic opportunity to break into the market.
“If you’re an investor, it’s certainly a fantastic opportunity to buy an affordable property in a high capital growth area.”
Hamlyn Heights house prices broke $500,000 last year and now sit at $510,000, achieving 13 per cent capital growth in 12 months, according to CoreLogic data.
The property last sold in 2013 for $315,000 before the owners embarked on the renovation, stripping wallpaper and carpets and installing a new kitchen, bathroom and laundry.
The sale added $16,000 to the value of the property, or a 33 per cent gain.