29 Wilson Street CARLTON NORTH

Comments on 29 Wilson Street CARLTON NORTH

This fine period home is located in popular Princes Hill. Despite needing renovation, it offers family buyers a reasonable level of comfort as is. It is the property's land content (840 sqm), location, period facade and potential that will ultimately attract buyers rather than the floorplan. The big decision for buyers will be whether they are prepared to put in possibly more than twelve months and $1 million in renovation work. In the renovation process it may be possible to modernise without having to extend beyond the property's existing external walls, which would be a bonus. You could also, at a pinch, live in the studio above the garage during the renovations to avoid the expense of renting. You could then move into the home after the renovations are completed with the builders moving out to work on the studio/garage area. Buyers may find the two separate single garages somewhat awkward, and in an ideal world a double garage with a studio on top would be a more efficient use of space. Results on period homes in the inner-north with above-average land content last year showed that buyers are willing to dig deep for these rare commodities. The sale of 112 McKean Street Fitzroy North (663 sqm) for $3.03m, 39 Alfred Crescent Fitzroy North (741 sqm) for $4.2m, 57 Wilson Street Princes Hill (600 sqm) for $3.82m and 41 Alfred Crescent (740 sqm) for $3.53m suggests buyers will pay when quality properties are offered for sale.