Ever heard the saying “buy the ugliest house on the best street”?
What it means is that you buy the ugliest and least attractive house on the best street for the lowest price possible, because you’re guaranteed to make a killing in the future.
I honestly never knew what it meant or if it was even relatable today, but a property in QLD’s Fortitude Valley has proved it valid.
Despite the 4-day lockdown in Brisbane, it hasn’t slowed down the property market, and this cottage has fetched a reserve-smashing price before the auction.
A stones throw from the city centre, this ugly-duckling home was snatched up for $1.535 million, which may seem like a surprise to most, but when you look at where it’s geographically sitting, and the land size, you can see why.
43 Arthur Street, Fortutide Valley sports 4 bedrooms, 2 baths, multiple living spaces and 2 car spaces on a generous 465m2 allotment, so you can see the potential and goes to show, it’s about time in the market as opposed to time in the market.
So I ask you, next time you’re driving near the city and see a run-down looking home, just remember, that home could be well worth over a million dollars, and there are many investors who wish they just held onto their properties for longer instead of selling early.
Just look at that potential!