Selling the family holiday home is a tough decision that many owners are facing in Victoria right now.
For Gary and Gabrielle Burton — with the cost of living and borrowing money rising, new taxes impacting their weekend getaway and construction underway on their dream home in Melbourne’s outer east — they’re ready to say farewell.
The three-bedroom house at 1C Beverley Rd, McCrae, which they built in the subdivided back yard of their neighbour about a decade ago has hosted family catch ups in summer, been a space to watch the footy in winter — and for the past 13 months the Burton’s have lived there full time after work started on their new home.
“There’s a house and a cafe between us and the beach,” Mr Burton said.
“We have loved it to bits. And there’s a view of the water and the lighthouse from the rooftop deck, which we think might be fairly rare to have one in the area. It’d be pretty difficult to get planning to build one these days.”
While they had loved it as a holiday home, they’re also sure the relatively new double-storey will suit a family looking to live there full time if buyer types in the area have changed their plans from escaping Melbourne part time to full time.
“It’s a good little spot — and we’ll miss it that much we’ll probably get back down here in a few years time,” Mr Burton said.
Belle Property Dromana principal Grant McConnell will handle the sale which is scheduled for auction with a $1.25m-$1.35m price tag at 3.30pm on February 24.
And Gary and Gabrielle are not alone, with Victorian agents reporting significant increases in listings of weekenders, after median prices fell hundreds of thousands of dollars in some coastal hamlets across 2023, making it the best time to nab a holiday home in years.
Recently released PropTrack data also revealed that budding buyers seeking a slice of beachfront paradise could find one for as little as $130,000 at Victoria right now.
VICTORIA’S CHEAPEST COASTAL TOWNS
Paradise Beach — $359,000
Portland — $440,000
Lakes Entrance — $510,000
Dalyston — $515,000
Wonthaggi — $560,000
Newcomb — $565,000
Dennington — $580,000
Coronet Bay — $585,000
Foster — $590,000
Warrnambool — $606,000
Figures reflect median house values
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