News Corp Australia Network
Lyndal and Leslie Mansell had been watching the market closely in the sleepy hamlet of Lota on Brisbane’s bayside when they decided to take advantage.
The couple just sold their three-bedroom house at 26 Beltana Street in four days for $945,000 after buying it for $830,000 less than two years ago.
“We’ve really taken the opportunity to make a financial gain for ourselves,” Mrs Mansell said.
“I knew someone would buy ours because I knew there were no properties on the market.”
The Mansells spent a minimal amount of money giving the property a cosmetic renovation before deciding to look for another one.
MORE PROPERTY NEWS:
What lies beneath? Qld house with tunnel/bunker to go to auction
Massive 80 bidders to battle for Qld abandoned house
“I waited for a property I liked, knowing once someone accepted my offer, I’d have no problem selling this one,” Mrs Mansell said.
“We’ve bought and sold a few times, but this time I was smart about the way we did it.”
Selling agent Courtney Brown of LJ Hooker Property Centre said home prices in Lota had grown significantly in the past three years.
“Lota always had a bit of a stigma, but now it’s come a long way,” Ms Brown said. “It’s a quieter version of Manly.”
Ms Brown said flipping homes for profit had become popular in the suburb since the pandemic, with plenty of buyers keen to move there for the bayside lifestyle.
“If people are prepared to do the cosmetic stuff themselves, it’s quite cost effective, but if you’re paying tradies to it, (reselling is) not that viable,” she said.
“I see a lot of people buy something daggy with overgrown gardens and replace them, add some paint and new carpets, and it makes a massive difference.
“But people also have to take into account stamp duty and agent’s fees on top of that — and people don’t pay themselves for their time, and the year’s worth of weekends they’ve spent renovating.”
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://www.realestate.com.au/news/the-bayside-suburb-where-homes-sell-for-a-profit-after-just-2-years/
- :has
- :is
- :not
- :where
- 000
- 11
- 12
- 16
- 20
- 2021
- 26
- 32
- 33
- 80
- 9
- a
- About
- accepted
- Account
- add
- ADvantage
- After
- Agent
- ago
- also
- always
- amount
- and
- Another
- ARE
- At
- Australia
- Battle
- because
- become
- been
- before
- being
- Bit
- bought
- brown
- but
- buy
- buyers
- Buying
- centre
- closely
- COM
- come
- Corp
- Cost
- Couple
- data
- Days
- December
- december 2021
- decided
- Deciding
- DID
- difference
- do
- Dont
- eager
- Effective
- Fees
- few
- financial
- For
- four
- Gain
- Gardens
- Giving
- Go
- grown
- had
- Have
- Home
- Homes
- House
- http
- HTTPS
- i
- if
- in
- into
- IT
- just
- Keen
- Knowing
- less
- lies
- Lies Beneath
- lifestyle
- Long
- Look
- Lot
- make
- MAKES
- Market
- massive
- minimal
- money
- move
- MS
- my
- New
- news
- no
- now
- of
- offer
- on
- once
- ONE
- only
- Opportunity
- ourselves
- paint
- pandemic
- past
- Pay
- paying
- People
- plato
- Plato Data Intelligence
- PlatoData
- Plenty
- Popular
- prepared
- Prices
- Problem
- Profit
- properties
- property
- purchased
- quite
- realestate
- really
- recently
- replace
- reselling
- Said
- see
- sell
- Selling
- she
- significantly
- since
- smart
- sold
- some
- Someone
- something
- spent
- stamp
- street
- Take
- taken
- than
- that
- The
- their
- Them
- themselves
- There.
- they
- this
- three
- time
- times
- to
- top
- two
- version
- viable
- vogue
- W3
- was
- watching
- Way..
- we
- webp
- were
- when
- which
- with
- worth
- would
- years
- zephyrnet