Location Location Location: The crucial compromise

Location Location Location: The crucial compromise
Jessie RichardsonDecember 7, 2020

Tuesday night's episode of Location Location Location saw two buyers toss up between the two values every property player holds dear: property and location.

Bryce spent the episode helping out Laura and Marcus from Melbourne. The retro loving couple have been together for almost 11 years and have a three year old son, Archie.

Formerly restless, with 10 moves in 10 years, the couple were keen to put some roots down - preferably in Altona North, where they were renting. They required a two to three bedroom house, with a big backyard for Archie. But most importantly, Marcus needed a sizable garage for his latest acquisition - a 1971 Valiant Regal, which he is in the process of restoring.

Unfortunately, after two years of looking, they'd had no luck. With both Laura and Marcus working for not-for-profit organisations, they were on a tight budget of $540,000.

Bryce's first move is a trip to Seabrook, a new suburb 15 minutes further out from the CBD from Altona North, in Melbourne's west. Laura was skeptical of the area from the very start, despite a good school within walking distance. The new build house they visited had an asking price of $470,000, well within the couple's budget, and had a covered entertaining area with a small grassy backyard for Archie and garage space for the Valiant.

Although the house itself had plenty of pros, the distance from the city was a big con, especially for Laura - and so it became apparent that for this couple, it really was all about location, location, location.

Next stop was Altona, the one-time home of Julia Gillard. Bryce had found a single storey three bedder with a large loungeroom, dining anrea and kitchen, with plenty of space for Archie. The house, which needed a little work, was also offered at $470,000 and was set to go to auction.

He also tracked down a house very close to home, in Altona North. The three bedroom house with separate dining and a garage preserved the home's original 60s features (a big plus for Laura and Marcus), but was in the shadow of a large refinery - no doubt a factor in the home's relatively modest $520,000 asking price. Though the couple were keen, they decided in the end that the backyard view of the refinery wasn't for them.

In the end, Bryce brought Laura and Marcus to another Altona North home - this time, far away from the refinery. With three good sized bedrooms, a garage and a substantial backyard, the single storey brick home on a 535 square metre block ticked all the boxes. The vendor was after no less than $510,000, but Bryce put in a strategic unconditional offer of $501,000, which did the trick, securing the home for Laura and Marcus (pictured below).    

Sydney sisters Jackie and Juliet found that house trumped location in their search for a home for Juliet. The sisters, originally from England, were hunting for a house for Juliet, with Veronica's help. Juliet has scoured the market for a house but is nervous about buying and hates auctions.

Five years on from the removal of a life-threatening brain tumour, she decided that it's finally time to settle down and get on with her life, and wanted to put down some roots. She was after a two bedroom home in an inner-western Sydney suburb with a village feel. She was keen on period homes, and dead set on a bath, with a $910,000 budget.

Veronica first took the sisters to Luluville, a terrace cottage in Rozelle which dates back to the early 1900s. Outside, the home had a split level garden for entertaining, and was a snug fit. Jackie ruled that the home was too small, although it did fall within the budget, with a $800,000 price guide and a $850,000 plus estimate from Veronica. The sisters tossed up some renovation ideas, but couldn't figure out a price efficient way to make the house bigger.

Next they went to Enmore, where another terrace house offered a little more space. The solid double-brick home home made a good first impression for Juliet, and had original fireplaces. Currently occupied by tenants for another six months, the house had two bedrooms, a separate lounge and large eat in kitchen, with a $850,000 price tag. Unfortunately, with the auction only 48 hours after the sisters made the inspection, the home didn't make a strong enough impression to force them into action.

The sisters also inspected a home in Leichhardt, another terrace. Unlike the other properties Juliet had walked through, this one had been renovated, with an extension upstairs. There was a "functional" backyard, a rather spartan, minimalist affair. Upstairs, the "spare room" was really a little mezzanine with a balcony, with no door but room for a single bed. According to Veronica, the questionable functionality of the upstairs spare room could just make the home's price attainable. It came with an $800,000 price guide.

Finally, the sisters travelled to Erskineville, only five kilometres from the city centre. The recently renovated home preserved some period features, with two upstairs bedrooms, and an open plan living and dining area downstairs, with a courtyard. However, the home had a small, galley style kitchen with limited storage - a major negative for Juliet.

Vendors were accepting offers over $800,000 for the Erskineville home.

After some umming and ahhing, the sisters settled on Leichhardt, thanks to its good sized kitchen and small private balcony. Veronica put in a strong $850,000  bid after waiting til they arrived at the second week of the auction campaign, securing the home and saving Juliet from the dreaded auction process.

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