71 Stan Crescent, Bonnells Bay
It’s exciting to see a property which has been built from scratch with an end value far surpassing the land and build costs.
A perfect example is this single storey 4 bedroom house built by McDonald Jones on 802m2 of land at 71 Stan Crescent, Bonnells Bay which was marketed by Sally Wrigley of Elle Jayne Realty – Morisset.
The land was originally purchased for $242,000 in February 2016 and sold in October 2018 for $755,000.
According to the council approval the 237m2 house cost $262,747 to construct.
Taking land and construction costs into consideration the total project cost was around $505,000 excluding agents commission, stand duty and holding costs.
The builders of this property would have experienced an estimated gross profit around $250,000.