HOUSE flipping is no easy feat but, if done properly, a great resale price could be the ultimate reward.
This is the case for Amelia and Andrew Johnston, who almost doubled the costs spent on renovations in profit — even in a cooler market.
After selling a house they had worked on in the western Sydney suburb of Glenmore Park in 2016, the pair paid $490,000 for a “revolting” house nearby in Cambridge Park.
They put in the hard yards and just resold the Harrow Rd home for $725,000.
“I don’t think I will ever forget the smell of that house when we bought it,” Mrs Johnston told the Penrith Press.
“It was the cheapest one on the market in Sydney at the time, so there were 96 groups through in one open; cars had parked down the road and there was a line to get in,” she said.
While the stench stopped many from stepping foot inside, those who inspected it were shocked by its decrepit state.
The floor was rotting, there were holes in the walls, the toilets were black and covered in mould, and a dog and cat were living there.
Despite this, Mr Johnston, a qualified builder, said it was structurally solid and had a great vision for the site.
“That was when the fun began. By day three we could see from the front door to the back,” Mrs Johnston said.
Removing the dilapidated kitchen revealed taps which hadn’t been properly connected, causing water to run under the house and contribute to the smell.
The couple then removed all gyprock, took out internal walls, replaced frames and the sub floor, reconfigured the layout, modernised the facade and added a new kitchen, pantry and bathroom. They moved in with their children once the major renovations had been completed.
Set opposite the local high school on a 632 sqm block with an in-ground pool, the four-bedroom house was painted and had fresh carpet and bamboo flooring laid.
The contemporary home now showcases neutral colour tones with features such as skylights, stone benchtops, sleek built-in wardrobes and ducted airconditioning.
It hit the market in early November with a guide of $679,000 to $729,000.
Property Central Penrith’s Paul Wallace said it sold first weekend on the market, after 20 inspections and three price offers.
“In this market, properties tend to sit around for a long time so there’s a lot of average homes consistently for sale. Anything that presents well does really well,” Mr Wallace said.
Having made a decent profit from their previous property too, the Johnstons are currently mortgage-free.
Their transformed Cambridge Park house was snapped up by a local buyer wanting to upsize. They liked that they could pick up their things and move straight in, according to the agent.