Sam Murden
Updated 10 Feb 2023, 4:03pm
First published 10 Feb 2023, 11:42am
93 Fenwick St, Bankstown NSW
An otherwise ordinary tin weatherboard house in Sydney’s west has received ‘thousands’ of inquiries due to its unique offer for prospective buyers: it’s for free.
The five bedroom and three bathroom property at 93 Fenwick St in Bankstown
has been listed for sale on Gumtree for zero dollars.
This five bedroom and three bathroom property is free.
MORE: Win your own Qld island paradise for just $2
The catch? In order to get the property for free, the successful buyer must remove the house and transfer it to their block of land of choice.
Garnering nearly 7,000 views, the advertisement states ‘This house was renovated about eight years ago. You need to remove this house and place it on your land.’
Elias Challita has owned the Bankstown property for the last decade, purchasing the property for $622,000 in October 2012.
The successful buyer of the property has to transfer the house onto a block of land of their choice.
Speaking with The Daily Telegraph, Mr Challita said he had received DA approval to reconstruct the property into a more modern dwelling.
“This property is essentially becoming a knockdown and rebuild project for myself and my family,” he said.
“We wanted to reduce the cost of the rebuild and start work on our block of land from scratch, so this was a good solution for us.
The property was purchased over a decade ago and has been renovated.
“I’ve had probably thousands of text messages and dozens of phone calls asking about the listing. I’d say about seven people are serious, with two potential buyers in the process of figuring out where they will take the property and how much it will cost.”
Demolishing or removing a house in Australia is a complex process due to the number of steps involved, with cost being a major factor for buyers to consider.
MORE:
Mansion sells from $1.6m less than six months ago
‘Built for celebrities’ mansion includes barber salon
F45 founder splurges on $36m mansion
Families and investors have expressed interest in the property.
The cost of demolishing, knocking down, or removing a house varies from state to state but can vary from around $12,000 to around $40,000.
The final cost depends on the size, type, location, access, any hazardous materials, removal and disposal fees to name a few factors.
The cost to remove a house in Sydney depends on the size and location of where the property will move to.
Demolition companies often calculate the price using cost per square metre, with the average cost in Sydney ranging from $53 to $114.
“One of my buyers is from Canberra and is weighing up whether to move the property interstate or keep it in NSW. The cost to move the property would be somewhere around $70,000 if he moved it to the ACT.”
The median house price in Bankstown sits around $1.2m
“I’ve gotten to know my neighbours very well, its situated on a quiet street in the area. I would recommend it to families looking for somewhere to move.”
Over the past year, the median house price in Bankstown has risen by 2.6 per cent to $1.2m – with units dipping down 1.5 per cent to $500,000.
Buying
Featured
Selling
Disclaimer: The information published in this section is of a general nature only and does not consider your personal objectives, financial situation or particular needs. Where indicated, third parties have written and supplied the content and we are not responsible for it. We make no warranty as to the accuracy, completeness or reliability of the information, nor do we accept any liability or responsibility arising in any way from omissions or errors contained in the content. We do not recommend sponsored lenders or loan products and we cannot introduce you to sponsored lenders. We strongly recommend that you obtain independent advice before you act on the content.
Personalised advertising: We show you more relevant advertising based on your activity. Prefer us not to? Opt Out of personalisation
realestate.com.au is owned and operated by ASX-listed REA Group Ltd (REA:ASX) © REA Group Ltd.
Recent Comments