Starting the new year with a bang (for our buck)

Here’s proof homes under $1M still exist

The property description said it all: “A blank canvas for your new home.”

This 569sqm Carina property ticked every box for an outstanding investment opportunity – a generous block in a central location, close to schools, shops and essential services, with a structurally sound post-war home at its heart.

And the price? Under $1 million – $996,500 to be exact.

We secured the property on New Year’s Eve during a rare quiet spell in the festive-season market. Safe to say, the champagne was flowing when this one came together.

So, what’s possible with a property like this?

A cosmetic renovation is the first option. With good bones already in place, a well-planned renovation could dramatically improve liveability and, for investors, boost rental appeal and returns. What began life as a modest two-bedroom, one-bathroom cottage has the potential to become a four-bedroom (or more), two-bathroom family home in one of Brisbane’s most sought-after suburbs.

Then there’s the knockdown and rebuild option. Marketed as “ready to remove”, the home could be cleared to make way for a brand-new build. With a blank slate, the design possibilities are limited only by time, budget and imagination.

Finally, multi-residential development is also on the table. The property’s zoning opens the door to a multi-residential project, offering the opportunity to maximise rental yield and significantly increase long-term value. So, what are we planning to do with this gem?

Stay tuned to find out!