Mum chips in to extend daughter’s budget for first home in Wantirna
A young buyer thought her dream of owning her first home had ended when bidding went above her $1.15 million budget at a Wantirna auction.
But her mother stepped in later at the $1.25 million mark and secured the keys to 3 Harrow Gardens with the final bid of $1.305 million.
“The single young woman dropped out of the bidding because she had reached her limit,” Harcourts Wantirna agent Chris Hodge said.
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“But her mother decided to help go over her budget so she could own the property.”
The new owner is currently renting in Glen Waverley and was delighted to secure her first home.
Just as happy were the long-time vendors who were in tears during and at the end of the auction, Mr Hodge said.
“They were tearing up when bidding reached $1.2 million because they expected a result around $1.05 million, which was their reserve,” Mr Hodge said.
“For it to rise more than $100,000 to $1.305 million, that made them even happier.”
The vendors paid $230,000 for the property in 1994 and are making a sea-change to the Mornington Peninsula, where they also own an investment property.
The Harrow Gardens home had a $1-$1.1 million price guide and sold for $255,000 above reserve on September 21.
The property was so popular that the agents expected as many as 10 bidders among the 100-strong crowd.
Seven bidders put up a strong contest for the home, with the underbidder a young family who only saw the property on the day.
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