Five under $500,000 - May 17, 2018
Think you've found a bargain, sunshine? Think again. Banks won't lend you money for a place just because it's cheap, even if you do have the deposit. For all their flaws, banks actually want you to buy something that has decent re-sale potential. So if you're looking for a budget shack, make sure it comes with enough space to invite some mates around for a frothie or two. If it's less than 45 or 50 square metres, give it a miss. If it's more than 70 square metres, you're probably getting a much better deal. Here are some fabulous little homes that are affordable and come with an added bonus: room to move.
29/9 Southey Street, Elwood
If you're going to buy a one-bedder, look for a dwelling that comes with a courtyard. It's like getting an extra room. This cracker in Elwood is in a solid brick converted mansion. It has a good kitchen, big bedroom, built-in robes, high ceilings, leadlight features and a cosy living room. It's an easy walk to Elwood Village and Acland St. At $340,000 - $370,000, it's worth a peek.
36/13 Cantonment Street, Fremantle
The styling ain't great, but look beyond that. In Freo, you can get a one-bed, one-bath warehouse conversion in the historic Woodson's Building for about $400,000. It has ridiculously high ceilings, floor-to-ceiling windows, timber floating floors, intercom, courtyard and a nine-metre storage space. Put your own stamp on it and once you're done you'll be kicking back at the docks, bloody loving life.
2/97 Augusta Street, Glenelg East
In Adelaide, you needn't settle for a one-bedder. Get a renovated two bedroom unit in a block of four, moments from the beach. It's a humble haven with polished floorboards, modern kitchen, heating, cooling and large courtyard. The tram, bars, restaurants and Jetty Road are close by. Keen? It's all yours for between $399,000 and $429,000.
3/40 Ormond Road, Elwood
We try not to favour suburbs, but we're partial to places in solid blocks, close to town and the beach. This second option in Elwood, Melbourne, is on the list because it's up for private sale, which means you get to dodge the auction. Plus, it's renovated and the asking price is $379,950. The one-bedroom unit comes with stone benchtops, lots of storage, polished floorboards, intercom entry and a shared garage.
Unit 22/53 Warry Street, Fortitude Valley
We're digging this loft-style unit just out of Brisbane. The 81-square-metre property, set over two levels, has two bathrooms, a modern kitchen, two terraces and air-con. There's also an in-ground pool, gym and parking. The catch? Body corp fees are $2700 p.a, so weigh it up carefully. Still, at this size and with a price tag of $393,000, it deserves a look.