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Real estate agent Matthew Roberts and homebuyer Billy Dalton fix a sold sticker after Saturday’s auction.
A young carpenter has made a great first step on to the property market after scoring a three-bedroom house at a bankruptcy trustee auction.
First-time buyer Billy Dalton knows there’s still plenty of work ahead for him after purchasing the property at 9 Fellmongers Rd, Breakwater for just $340,500.
It was a hotly contested property between three bidders at Saturday’s auction, where the competition opened for $250,000.
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Two groups took the mantel for most of the auction, with 32 bids needed to determine who would be taking home the keys.
Hayeswinckle, East Geelong auctioneer Matthew Roberts said it presented an opportunity to buy at the bottom of the market.
Matthew Roberts calls for bids at 9 Fellmongers Rd, Breakwater.
Bidders stood at close quarters during Saturday’s auction at 9 Fellmongers Rd, Breakwater.
“You’ll be looking back like your parents did and I’m sure they told you ‘I remember when I bought my first house for $54,000.’ Well, here it is right now – in 20 years time you will look back it’ll be money well spent.”
The house was offered in an as-is condition, with rooms resembling an abandoned art galley with handpainted murals dressing several rooms.
Mr Dalton acknowledged there’s still plenty of work ahead of him once he takes the keys, calling on his experience as a carpenter.
9 Fellmongers Rd, Breakwater.
9 Fellmongers Rd, Breakwater, sold for $340,500.
“It’s pretty cheap for a first house,” Mr Dalton said.
“(I’ve got) A lot of work. Too much work almost.
“I’m a carpenter. I’ve been doing that for a while, hopefully it helps me to fix it up.
“(But) you can’t find (a home) anywhere else in Geelong for this much. Especially not a house, only units really.”
9 Fellmongers Rd, Breakwater, sold for $340,500.
9 Fellmongers Rd, Breakwater, sold for $340,500.
The buyer said he’d moved to Geelong from Maryborough a year ago.
“I’ve been renting but I thought I might as well, I’m going to be here for a while.”
The house occupies a 397sq m block at the intersection with Tanner St.
The floorplan has a living room that flows into a dining room or expanded living space.
The kitchen has laminated benches and cabinets and a dishwasher, while the bathroom has a shower and spa bath.
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