It was Orange's cheapest house - priced at a modest $165,000 - and it lasted only a matter of days on the market. For all the talk about million and two-million dollar houses being sold in the city in recent months, there is still the occasional bargain-priced dwelling being listed for sale. But you may need to move quickly. The three-bedroom, one-bathroom property on Jindalee Avenue in Bowen was sold by Michael Wright from Peter Fisher Real Estate less than a week after being advertised for sale. If the buyer paid a 10 percent deposit and borrowed the remaining $150,000 at an interest rate of three percent over 25 years, the weekly repayments would amount to $164. While the occasional unit is listed for under $200,000, Mr Wright said it was rare for a house to be in that price bracket. "It needs money spent on it," said Mr Wright. He described the Jindalee Avenue property as "okay". "We got them to pull all the flooring out as it wasn't in very good condition," he said. "The kitchen and bathroom need some attention. "It's a fibro home that's been well-loved and there are a few cracks and dents. But I see it as a great opportunity to enter the Orange market." Mr Wright said that "anything that's decent now, even in the housing commission areas, is between $200,000 and $300,000, and over $300,000 in some areas of Glenroi if they're double brick in good spots." Send us a letter to the editor using the form below ...
GONE: This property in Jindalee Avenue sold in less than a week. It was listed for the bargain price of $165,000. Photo: PETER HOLMES.
It was Orange's cheapest house - priced at a modest $165,000 - and it lasted only a matter of days on the market.
For all the talk about million and two-million dollar houses being sold in the city in recent months, there is still the occasional bargain-priced dwelling being listed for sale.
The three-bedroom, one-bathroom property on Jindalee Avenue in Bowen was sold by Michael Wright from Peter Fisher Real Estate less than a week after being advertised for sale.
If the buyer paid a 10 percent deposit and borrowed the remaining $150,000 at an interest rate of three percent over 25 years, the weekly repayments would amount to $164.
While the occasional unit is listed for under $200,000, Mr Wright said it was rare for a house to be in that price bracket.
"It's a fibro home that's been well-loved and there are a few cracks and dents. But I see it as a great opportunity to enter the Orange market."
Mr Wright said that "anything that's decent now, even in the housing commission areas, is between $200,000 and $300,000, and over $300,000 in some areas of Glenroi if they're double brick in good spots."
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