Buyer takes on half-finished house for under $1m on the Gold Coast

A buyer is taking on a sub-$1 million, half-finished house in a laidback Gold Coast suburb.

A lot of the heavy lifting on 50 Dilgara Street in Tugun, described in the listing as a “work in progress”, has already been done.

The property with major handyman appeal sold at auction on August 13 for $940,000.

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50 Dilgara Street Tugun QLD 4224

Substantial gains have already been made in the makeover of the four-bedroom house on a cul-de-sac, with the big job of the bathrooms close to finished, among other flourishes, but the new owner will need to finish the job.

“This property has only been partially renovated,” the listing, on the books of LJ Hooker Southern Gold Coast, says. “Bathrooms are near complete, however most of this house is still a work in progress and would need to be taken on by the buyer.”

What has been completed signposts a crisp, contemporary look that suits the beachside postcode.

White-washed cathedral ceilings crown the airy living room, where there is the start of a fireplace. Sculptural fans have been installed to waft the warm Queensland breeze, and Scandi-luxe rattan cabinetry appears in the kitchen and the laundry.

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The relaxed Tugun is a coastal suburb on the southern Gold Coast. Photo: Google Maps

One of the bathrooms in the campaign images shows a rain showerhead has been fixed in, alongside a dramatic bench vanity and sink with gleaming tapware. The other bathroom has a soaking tub in place and a curved glass shower screen to complement an arched dividing wall.

There is potential for a kitchenette to service the lower-level family room, the listing advises, opening up rental potential. The bedrooms and the main communal spaces are concentrated on the upper floor.

Tugun’s median house price has rocketed over the medium term but has relaxed over 12 months.

Domain’s June 2023 House Price Report shows the median sum for houses is $1.1 million – a rise of 69.2 per cent over five years but a drop of 7.2 per cent over 12 months.

On the southern Gold Coast, Tugun is a postcode where locals and tourists alike love the old-school Aussie summer vibe, including one of the region’s best beaches and fish ‘n’ chip shops.

Article source: Queensland Property Investor