Renovated family homes for sale with no money to spend, for less than $1.5m
Now more than ever, home buyers are searching for properties requiring little to no renovation.
Ready-to-move-in homes are not a new phenomenon, but with the cost of trades and building materials still eye-wateringly high, more people are putting away the hammers and drills and seeking properties with very little work needed.
Domain chief of economics and research Dr Nicola Powell says people are more cautious about renovation and construction costs after they increased by 30 per cent during the pandemic.
“It’s very unlikely that we’ll see the cost to build decline. It’s never done that before,” she says.
“Some potential buyers are wary of taking on a renovation because they don’t understand the escalating costs that could potentially be involved, particularly with the high cost of debt.”
Those soaring costs are playing out in real time and making a material difference to renovations. A recent report from Housing Industry Australia (HIA) found that the average home in 2023 had 2.6 bathrooms. This year, that number has shrunk to two.
Powell says the fact homeowners are now less likely to include an extra bathroom or powder room is a direct knock-on effect of construction costs – and prospective buyers are looking to insulate themselves from spiralling renovation costs when purchasing a new home.
“There is still the prospect of cost blowouts, the unknown cost associated with it. So there is caution when buying an unrenovated home in terms of what that cost landscape looks like for them,” Powell says.
Sydney-based agent Diab Abou Haidar from LJ Hooker Belmore agrees and says he’s seen people prefer to pay a bit extra for a property that is already renovated than doing it themselves.
“The majority of families looking to purchase a home are much more inclined to go for something that’s ready than have to make renovations,” he says.
Are you looking for a family home that doesn’t need renovation? We’ve rounded up some of our favourites on the market.
Sydney
46 Phillips Street, Roselands
Located in the centre of Roselands, this newly renovated home has three bedrooms and built-in wardrobes. It also has plenty of backyard space and a pool, perfect for children.
24 Noble Avenue, Punchbowl
In Punchbowl, this beautiful red-brick home has four bedrooms, including a detached studio that can be used as a guestroom or office. The property is about two kilometres from the station, making commuting to work easier.
Melbourne
102 Massey Avenue, Reservoir
This spacious Reservoir home has been recently renovated to create a luxurious living space. It also offers plenty of parking space so friends can come for delightful dinner parties.
135 Rathcown Road, Reservoir
This 1950s timber home sits on about 743 square metres of land, offering ample backyard space for the family. It has a spacious kitchen with stone benches, plenty of storage space and stainless steel appliances.
Brisbane
22 Taronne Street, Carindale
In beautiful Carindale, be entertainment royalty in this family home full of great spaces to entertain guests – no renovations required. It comes with ample living space to create an exclusive media room. Use the pool for summertime parties while cooking on the patio.
33 Toomba Avenue, Ashgrove
A beautiful two-storey weatherboard home has been cleverly remodelled to capitalise on its leafy position, with spaces thoughtfully planned for growing families. With four bedrooms, two bathrooms, multiple living areas, and a pool in the backyard that’s well connected to the kitchen, dining, and deck, this is easy Brisbane living in a much-loved inner-city suburban locale.
Adelaide
8 Tod Street, Glenelg North
This renovated 1870s bluestone villa offers the cottage-core lifestyle without needing to be deep in the woods. The property’s multiple fireplaces, beautiful deck, and secret wine seller are sure to impress any friend who is popping in for a visit.
11 Miami Avenue, West Beach
While this Miami Avenue house may not be in Florida, it is a few minutes from the beach in Adelaide. This recently renovated stone brick home has four bedrooms and a garage that has been converted to a gym, office, or dance studio.
Perth
3 Amelia Loop, North Coogee
Priced from $1.35 million, this four-bedroom, two-bathroom family home is not so much as renovated as basically new. There are multiple living areas, ducted air-conditioning, a gourmet kitchen, and a pool – and did we mention views of the Indian Ocean? This property offers a coastal lifestyle only moments from the beach.
91 Hubert Street, East Victoria Park
In East Victoria Park, fall in love with this recently renovated weatherboard house. The kitchen and bathrooms are newly renovated and include marble-topped vanities, stone benchtops in the kitchen, plenty of storage, light-filled living areas, high ceilings and timber flooring.
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