Neighbours grab Belmont’s best cheapest house amid three-way auction
Neighbours have popped up at an auction to secure what’s been described as the best cheapest house available in Belmont.
The buyers, Peter and Lisa Wilkinson put their hand up for the three-bedroom brick veneer house at 7 Rigo St midway through the auction and walked away with the contract.
The 651sq m property sold for $477,000 after the auction opened at $440,000 and the property declared on the market after the price passed $450,000.
Buxton auctioneer Jarrod Leonard said the property was presented in an honest condition, with peeling pain, rusted metal and cracked plaster joints giving buyers a clear indication of the work ahead of them.
“We have the cheapest and best house available in Belmont,” Mr Leonard said.
“When was the last time you saw a house in Belmont in this location that’s two minutes from Belmont High, you’ve got the High St shops around the corner, Highton Village down the road and you’re under $500,000.”
Mr Leonard said the block size meant subdividing was another options for buyers.
But he said recent sales in excess of $550,000 in nearby Hill St after little more than a makeover had shown that a simple reno could also produce results.
“We haven’t had a vendor here who’s paper mached over the cracks, It’s a property that is honest — you can come in and do your own thing.
“So what you put into the property will be returned in spades.”
Mr Wilkinson said they had bought in Rigo St about nine years ago and decided to pounce when the neighbour’s house went on the market.
While it’s been bought as an investment, Mr Wilkinson said the purchase had a sentimental side.
“We knew the old owner, who’s gone into a nursing home,” he said.
“We looked after him, he was an old Rat of Tobruk I think and always had plenty of stories to tell.
“He popped his head over the fence all the time, it was good.”