Adelaide grandfather buys $1.275million home for his family

There's thing a first-time purchaser fears much than showing up connected auction time and seeing a cashed-up boomer holding a paddle. 

But for 1 waste successful suburban Adelaide, nan mature-aged purchaser successful their midst wasn't conscionable looking to pad retired his finance portfolio pinch different rental property. 

Indeed, nan older man who placed nan winning bid connected nan area allotment astatine 96 Gage Street successful Firle successful nan city's eastbound had very different plans successful mind. 

He ended up spending $1.275million connected nan 680sqm location but won't ever unrecorded location himself, nor will he lease it to tenants. 

Instead, nan location is simply a very generous gift to his children and grandchildren. 

The man, described arsenic a 'local buyer', wanted to springiness nan younger members of his family a amended commencement successful life by getting them connected nan spot ladder. 

'A section purchaser ended up buying nan home… a mature man who bought it for his family, to group them up for their future,' Ray White Woodville supplier Peter Kiritsis told Realestate.com.au.

'He was saying that his kids and nan grandkids would get nan benefits of this 1 … truthful they are very fortunate to person personification for illustration him.'

The thoughtful grandfather outbid 11 group for nan 1960s-built home, which features a postulation of eccentric wallpaper and carpet choices from nan early 1970s.

Mr Kiritis believed nan location would person been 'state of nan art' astatine nan clip of decoration.

He added that nan location reminded galore hopeful bidders of their 'grandparents location aliases their aunties' location … because it's truthful good preserved'.

'When small kids were coming in, they'd return 2 steps wrong and their mouths would conscionable driblet and they were like, 'where americium I? What is this place?' … truthful there's nary question, this was a very typical location to sell,' he said.

The 4 bedroom, 2 bath location was described connected nan existent property listing arsenic 'conventional style family surviving connected a area allotment.'

The median value of a location successful Firle has risen 8.3 per cent to $1,040,000 successful nan past 12 months and from $$717,000 successful nan past 5 years.

More than 700 buyers person shown liking successful nan area successful nan past month, apt owed to its proximity to nan CBD, but only 9 homes person been sold successful nan aforesaid period. 

The boomer's shocking move comes conscionable days aft news collapsed of a Perth mates buying their children a $1.26million house complete pinch h2o and metropolis views and an outdoor jacuzzi to unrecorded successful while they spell to uni.

The slope of mum and dada came done for nan uni students aft their parents bought nan location successful Como, a confederate Perth suburb, conscionable 6km from nan CBD.

The location has 3 bedrooms and 2 bathrooms and is only 15 minutes locomotion from Como Beach.

Ray White South Perth supplier Jack Shaw told Domain nan location was bought by a farming family for their sons to unrecorded successful while they attended uni successful nan city.

The buyers paid $1,268,000 for nan location astatine auction connected Saturday, beating 7 different bidders.

The uni students will beryllium capable to entertain their friends successful nan 'alfresco entertaining area' aliases nan 'private beforehand gait pinch caller lawn' and drawback up connected their study successful nan outdoor jacuzzi. 

The location is only an 800m locomotion to Preston Street shops and 1.3km to nan Angelo Street shopping precinct.

'Como Beach is very good regarded and nan location is successful a sought-after pouch and it's azygous level and renovated, positive there's nary strata fees,' Mr Shaw said.

'The sellers are buying onshore connected nan outskirts of Perth and they are very happy pinch nan consequence nether nan hammer and unconditional.'