The $8000 Reno adds $300,000 to the selling price of the Sydney unit
Is it too expensive? We can’t believe it’s too expensive. We think it’s priced in the upper range of the market. What do you think it will go for? We thought when we first got our hands on the property it could have been over $2 million at different times. We thought $1.9 million would be a very good price. The reserve price is about $1.89 million. What’s surprising about that? When we take [the listing] it is a two bedroom apartment. We’ve been around the lower north coast for years. There are many one-bed, two-bedroom apartments. They are very common. Three bedrooms is not much to begin with. We noticed the gap. Apartment vendors created a third bedroom by closing the formal dining area, which was originally a separate bedroom. We advised them to convert it to three beds which was the original plan. Someone who used to live there turned it into two bedrooms and used the third as a formal dining room. It definitely changes the whole pricing stru...