Why this renovated Rowville home fetched $1.2m

The Rowville family home that sold for $1.2005m, more than $100k above the top of its price guide.

A Rowville family who spent nearly a decade shaping their dream home have sold it for $1.2005m, more than $100,000 above the top of its price guide.

Vendors Mary and Nick Nikos’s renovated three-bedroom home had $1m-$1.1m price hopes, but strong interest throughout the campaign translated into fierce competition on auction day.

Buxton Oakleigh auctioneer and director Peter Gigis said four bidders fought it out after the home was declared on the market at $1.1m, with offers climbing in $10,000 and $4000 increments before narrowing to final $500 bids.

RELATED: Shock twist in Australia’s property market

‘Be realistic’: Melb buyers warned

Melb suburbs where units save you $1m

CoreLogic records show the couple purchased 2 Moama Place for $630,000 in 2015, and overhauled it with a focus on family functionality and warm, timeless design.

Their favourite addition?

The open-plan kitchen, which Mary described as the “heart of the home” , a space that once held more than 40 people during family events.

The original kitchen before renovation, now transformed into a warm, open-plan entertainer’s hub described as the “heart of the home.”

The renovated open-plan kitchen that once hosted 40 guests and helped seal the $1.2m sale, featuring Bosch appliances and oak floors.

“We’ve had babies take their first steps here, we’ve hosted huge gatherings, it’s full of memories,” she said.

“It’s bittersweet, but with baby number four on the way, it’s time to start the next chapter.”

The home backs directly on to Waterford Valley Golf Course and features solid American Oak floors, Bosch appliances, underfloor bathroom heating, solar panels, and a 48sq m shed with a kitchenette and toilet, ideal for the perfect mancave, trades or home business use.

The backyard before landscaping and upgrades, now replaced with a manicured family-friendly space backing onto Waterford Valley Golf Course.

The upgraded exterior with shed, solar panels and direct golf course access a lifestyle combo that drew fierce auction interest for the Melbourne southeast home.

PropTrack data shows Rowville’s median house price has climbed 5.2 per cent in the past year to $970,000, with family homes in quiet courts continuing to attract strong buyer demand.

Mr Gigis said Rowville’s balance of green space, schools and family-friendly infrastructure was continuing to fuel confidence among upsizers and long-term owner-occupiers.

The stylish bathroom includes underfloor heating, just one of many high-end touches that appealed to owner-occupiers.

The 48sq m shed with kitchenette and toilet, ideal for a man cave, trades, or home business use, adding serious buyer appeal.

“This wasn’t an investor property,” Mr Gigis said.

“It was a genuine family home in a cul-de-sac with golf course views.

Those sorts of homes are getting harder to find and buyers know it.”

The lounge area pre-renovation, now a modern, light-filled family space with a fireplace and oak flooring.

The revamped living room with fireplace, perfect for family gatherings part of a renovation focused on warmth and functionality.

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: Bachelor couple eyeing $6m+ payday

Aussie NBA legend set for huge $4m move

$32m Mill deal reveals major players’ interest

david.bonaddio@news.com.au

The post Why this renovated Rowville home fetched $1.2m appeared first on realestate.com.au.