A good-hearted father of Sydney has paid a price tag of several millions of dollars for a perfectly liveable house-that he intends to demolish.
The father paid $ 5.8 million for the Brick house with two bedrooms on 16 First Avenue in Willoughby, just north of the CBD of Sydney, on Saturday.
He said he wanted to build a duplex on the site for his two children because he was afraid that they could never afford her own house if they did not arrive at the real estate market.
The real estate of 809 square meters was mentioned as a development possibility, which, according to Belle -ownership, Willoughby -seller Brandon Insuasti said that 11 other potential buyers were attracting.
Bid started at $ 4.5 million – the property was mentioned with a price guide of $ 4.75 million – and sIX parties finally came out before Sydney's father arrived as soon as the price hit $ 5.5 million.
Mr. Insuasti confirmed that the buyer wanted to take it down so that he could build a duplex to accommodate his children and their families.
Documenting the building to build the two-house duplex could save the father $ 3 million compared to if he had tried to find a second home to buy, Mr Insuasti told the Sydney Morning Herald.
A father of Sydney paid $ 5.8 million on Saturday for this very modest brick house with two bedrooms on 16 First Avenue in Willoughby, north of the CBD, on Saturday
The house is in good condition, but the buyer insisted that he would break it down
Sydney's father is planning to tear down the house and build a duplex in place – thanks to his large back garden – for his two children because he feared houses in a few years will be priceless
The real estate agent compared the price that the father paid for the duplex with the ones he could have paid for two predetermined houses in the same area.
“The market for land and knockdowns and potential is strong,” said Mr Insuasti.
“The market on the High -Oend soften a bit because there is so much stock.”
The house with two bedrooms on 16 First Avenue was one of them 613 auctions planned in Sydney on Saturday.
A Lower North Shore family bought a house with five bedrooms on 12 Duntroon Avenue in Roseville earlier in the day, 3 km north of Willoughby.
The house was mentioned with a $ 3.3 million guide with a $ 3.5 million reserve that was eventually sold for $ 3.86 million.
Earlier in the day, another family paid $ 3.86 million for a house with five bedrooms on 12 Duntroon Avenue in Roseville, 3 km north of Willoughby
Ray White sales agent Jessica Cao said the building attracted a large number of parties to attend the auction because of the proximity of schools and a park nearby.
“The open home numbers were very good in recent weeks, stronger than last year,” she told the publication.
Mr Insuasti agreed and stated that more buyers and sellers were interested in contact with real estate agents after having kept a majority of 2024 as the market fluctuated.
