Undervalued Melbourne market draws sisters to flip homes

House-flipping sisters Danielle Freebairn and Janis Petrovski say spring’s surge of listings is the perfect chance to find their next project. Picture: David Crosling

Melbourne’s undervalued property market is set to be the perfect hunting ground for house flipping sisters Danielle Freebairn and Janis Petrovski to find a new project ths spring.

The duo, who run renovation business Dan, Jan & Co, are seasoned buyers with active projects in Melton and Brunswick — but say spring’s listings surge has tempted them back into the market.

“We think the Melbourne market is massively undervalued right now, it’s a buyer’s market,” Ms Freebairn said.

“Spring always brings more listings, and we’re looking closely for the right entry-level opportunities.”

RELATED: Major retailer heading to Melbourne’s west

Named: Melbourne suburb to bag bargain homes

Mitcham reno stunner soars to $1.24m

The sisters split their roles sharply: Ms Freebairn finds the deals and manages agent relationships, while Ms Petrovsky crunches the numbers, oversees trades, and keeps projects on budget.

“Everything is fixed-price with trades,” Ms Freebairn said.

“That way we protect ourselves from blowouts and can deliver quality renos without the stress of variations.”

The duo favour brick homes with strong bones, often reworking floorplans to unlock extra bedrooms or bathrooms. Picture: David Crosling

When inspecting homes, they prioritise floor plans with easy wins, such as converting a formal dining room into a fourth bedroom or turning a large laundry into a second bathroom.
Ms Freebairn she loves brick homes and always considers the bare bones of a property before purchasing.

“While Melton and Brunswick have been recent hotspots for us, we would like to buy again in either area if the right listing came up this spring,” she said.

Fixed-price trades are key to keeping renovations on budget, ensuring quality finishes without costly blowouts. Picture: David Crosling

“Buying a home that needs work isn’t for everyone, but if you’ve got vision and good connections, it’s a smart way into the market.

“Cheap and nasty renos don’t cut it, but when you do it properly, the numbers stack up.”

Ms Freebairn said even a $20,000 budget could stretch a long way across kitchens, bathrooms and laundries with the right approach.

“You can make a flat pack look custom,” she said.

“If you shop smart and design well, you can create the look of a high-end finish and that’s exactly what we as buyers will be chasing this spring.”

Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox.

MORE: Artist transforms Bayside house into sanctuary

Named: Melbourne suburb to bag bargain homes

Melb McDonalds could be yours for $3.2m

david.bonaddio@news.com.au

The post Undervalued Melbourne market draws sisters to flip homes appeared first on realestate.com.au.