26 October 2020 at 7:03 pm
With rotting walls and rubbish bags piled up in the front rooms, this uninhabitable home managed to sell for $3.41 million at auction last weekend.
The 1081sqm Concord home in Sydney attracted the attention of many prospective buyers despite being the dishevelled former home of a hoarder. Every room in the house was strewn with mess and decay so severe the home was unliveable. Even the large lawns at the front and back of the home were littered with loose pipes and car batteries, and overgrown bushes hid the house from view.
“The house is not going to fall over, but it is also well beyond repair,” said agent Ben Horwood from Horwood Nolan. He said that the mess was “mild” compared to how it has been before cleaners had come in to amend the worst of it in the weeks prior to the auction.
So how can such a repulsive property be worth so much?
“The house was a mess and that would have put some people off but others like the (chance) to add value so these types of auctions can be hot,” said Damien Cooley, the auctioneer. “The condition would have been no deterrent for developers who would bulldoze the house anyway.”
“It was a rare home. There aren’t many blocks this size in Concord anymore but the price was unexpected,” admitted Mr Horwood. The property sold for $210,000 over reserve price.
All images are credit to realestate.com.au.
The buyer told the Sunday Telegraph that he refused to go inside, “I didn’t want to see it, I didn’t care about the house.” He intends to demolish the existing house and build another as an investment for his family.
Do you know the true value of your home? Would a large price tag encourage you to sell, or do you intend to retire in your home?