There’s no doubt about it, esplanade property anywhere is a dream location to obtain. However, in Surfers Paradise, esplanade property is an especially far-out fantasy. Its available plots are getting snapped up by developers offering residents a considerable buy-out to get the space for their multi-unit residential towers. You see, this location only becomes increasingly popular as the years go on due to its amazing location and large events like the upcoming Commonwealth Games.
Surfers Paradise real estate is something that many big and eager spenders keep their eye on, should the rare opportunity of an available home arise. Recently, one of these opportunities came to auction.
It probably won’t come as a surprise to you, but there aren’t many beachfront properties available along the Surfers Paradise Esplanade. However, homeowner Peter Batley recently put his esplanade property up for auction, the Gold Coast Bulletin reported. Batley spent $400,000 transforming this property from a four-unit apartment block into a seven-bedroom, six-bathroom home. The property is complete with nine carpark spots. It’s truly a beach-goers dream.
Why would Batley sell such a coveted piece of property, you wonder? Because his six-year old daughter wanted a home with a backyard! No matter the reason, when a property comes on the market like this, you have to be prepared.
How fast do you have to act when a Gold Coast property located on the esplanade goes up for auction? Fast. While, yes, you have to wait for the property to go up for auction before you bid on it, you have to get your affairs in order before the big day.
Once you see a property you want go up for auction, you need to take a look at your finances, and most importantly, your budget’s limit. Knowing your limit will help your strategy once in the auction. You don’t want to bid your full amount first – you go in bidding under budget so you have room to grow and appear competitive.
The best advice we can give you if you’re interested in finding a place is to remain vigilant about watching what is going to be up for grabs in upcoming auctions and watching local listings as well. Of course, you don’t have to go in on this hunt alone.
If you need help perusing the Surfers Paradise property market, contact our team here at Surfers Paradise Ray White today.