Fax Number

07 5464 4558

2304 Warrego Highway

Haigslea , Qld , 4306

07 5464 4174

homesbybudget@hotmail.com

Compare Listings

New owner to turn termite house into family home

12_raintrees_court_buderim_inside1The new owners of a termite damaged home in Queensland that sold at auction on the weekend for $360,000 plan to restore the home to live in.

Prior to auction, the Buderim property had been declared uninhabitable by insurers due to extensive termite damage to 75% of the house.

Local builder Kristian Muir from Muir Developments bought the property on Saturday and says he’s not afraid of the repair job required.

“I’ve done a renovation, not for myself but for a client, with termite damage on the Sunshine Coast.  We fixed all his walls as well.  So we’ve done one but probably not on as big a scale as this might be.  It seemed to go to plan so I thought I might do one myself,” Muir says.

 

12_raintrees_court_buderim_inside3

Muir estimates the repair job will take him three to four months to complete and he then plans on living in the Raintrees Court property.

The couple who previously owned the property only discovered the extent of the termite damage during a renovation after buying the house for $485,000.

Marketing agent Grant Smith of Century 21 Grant Smith Property says the owners were “over the moon” as the final sale price was above the reserve.

 

While unable to discuss the insurance claim on the property, Smith says the couple has financially “come out of it OK”.

There were 14 registered bidders among the crowd of 100 onlookers on the day and the bidding opened at $250,000, with the property selling for $360,000.

“It was about what we were expecting.  It was above the reserve price, but it makes sense as it’s reflective of land value minus demolition cost,” Smith says.

The median sale price for houses in Buderim is $575,000.

img

hbb@css

Related posts

  • news

State-by-state guide to first home buyers grants

The First Home Owner Grant has changed and evolved since it was introduced 16 years ago. The...

Continue reading
hbb@css
by hbb@css
  • news

Buying a house in Queensland: Southern buyers pushing up state’s property prices

Sophie Foster, News Corp Australia Network September 24, 2016 2:00am QUEENSLAND has emerged...

Continue reading
hbb@css
by hbb@css
  • news

Brisbane in a holding pattern

While this capital’s performance is consistent compared to its peers, there’s no significant...

Continue reading
hbb@css
by hbb@css

Join The Discussion