Case Study

Knock-down or $1.2 million max

$2.24 million, 5 days on the market

When this property was first assessed, the advice was straightforward: knock it down.

The estimated value in its existing condition was around $1.2 million, with the suggestion that, if we chose to renovate, we should spend no more than $250,000, with the hope of achieving a sale price of around $1.8 million.

Standing in front of the home, I saw something different.

Not because it was beautiful—it wasn't.

Not because it was easy—it certainly wasn't.

But because I could see the potential hidden beneath the overgrown garden, dated finishes and years of neglect.

The question wasn't whether we should renovate.

The question was where the investment would make the greatest difference.

The property attracted more than 130 groups through its first open home after being listed for just 24 hours.

It sold within five days for $2.24 million.

While every property is different and no result can ever be guaranteed, this project reinforced something I have always believed:

The biggest opportunity isn't always found in spending more. It's found in knowing where to spend wisely.

What I saw

While many people saw a property at the end of its life, I saw strong bones, generous proportions and an opportunity to create a home that would emotionally connect with today's buyers. The renovation wasn't about making the house luxurious. It was about revealing what was already there and investing where it would matter most.

The Story

After 12 years with the same tenants, this circa-1950s Sydney property was tired, neglected and largely original.

It had a 20-year-old kitchen, an overgrown garden, a leaking roof and several areas that had been allowed to deteriorate.

But underneath all of that, I could see good bones and plenty of potential.

The Challenge

The property was dark, cold and showing significant wear.

The garden was overgrown, the deck was rotting, the roof leaked and the bathroom needed serious attention.

At the rear, a separate room was caving in, didn't meet habitable-height requirements and could only be accessed from the deck.

Inside, the front door blocked access to the main bedroom, while dated flooring, window furnishings and an external laundry made the home feel awkward and impractical.

The challenge wasn't simply to make the property look better.

It was to work out where the investment would make the greatest difference.

The Strategy

The aim was simple: make the right improvements, without renovating for renovation's sake.

Over 12 weeks, the transformation included:

A bright coastal kitchen and improved connection between the living and dining areas.
A new internal laundry with butler's sink.
A modern bathroom.
New flooring throughout.
Upgraded lighting inside and out.
A fresh coastal colour palette.
A new Colorbond roof.
Rebuilt rear room with raised roof to achieve habitable height.
A new deck replacing the unsafe structure.
A versatile lower-level retreat.
New doors and hardware, including an outward-opening front door.
Low-maintenance landscaping and improved street appeal.

Once complete, the home was professionally styled and prepared for sale.

The Outcome

The response was immediate.

After just 20 hours online, more than 130 people came through the first open home, with cars filling the surrounding streets.

The property was scheduled for a four-week auction campaign.

It sold in five days — before the sales sign had even been produced.

$2.24 MILLION

FINAL SALE PRICE

$800,000

APPROXIMATE NET UPLIFT AFTER RENOVATION COSTS

Project Results

Original estimated value: $1.2m
Renovation investment: $240k
Renovation timeframe: 12 weeks
Time online before first open: 20 hours
First open-home attendance: 130+ people
Time to sell: 5 days
Final sale price: $2.24m
Approximate net uplift after renovation costs: $800k

THE TAKEAWAY

The property didn't need to be knocked down.

It needed someone to see what was worth saving, what needed changing and where the money would make the biggest difference.

Past results are not a guarantee of future results. Every property and market is different.