A free block of land
It’s all about potential and finding hidden value and Partridge has not disappointed us. We stumbled across this listing one Saturday afternoon (and yes we may have had a bevy in hand). We were keen to inspect the property and make an offer if the advertisement was true.
We were quick to lock in an inspection and out gut instincts were right - x a free block of land was up for grabs. #Jackpot The existing home home was tired and had a weird layout. Ignore the baby-poo walls and focus on the potential and the perfect block of land. We submitted an offer and crossed our fingers and toes. We got it! Partridge is set on two lots totalling 672m2. Why hadn’t the previous owners realised the value in this property? With a little elbow grease and plenty of friendly banter to local council we were granted permission to demolish the carport encroaching onto the second block next door (without the house on). We saved approximately $40k in local council infrastructure charges and associated costs with surveyors due to property having already been subdivided.
We started planning a new home to go on our new free block of a land – a 3 bedroom, 2 bathroom family friendly house with a double garage. A new home like this is a rare find in east Toowoomba and we knew we were onto a winner.
Plans and approvals have been secured and we’re now in the process of upgrading the original home and building the brand new home. Our plan is to have both homes sold by the end of 2016.
#TheRenoLads tip: Always seeks properties where you can value add or tap into hidden capital (Cash).
