A dilapidated brown brick house from the 1970s has been transformed into a picturesque Hamptons-style oasis – and it took less than six months to achieve the impressive result.
Chris Bye, a 44-year-old carpenter turned househusband, bought the Central Coast property in January 2023 for $725,000 and sold it five and a half months later for $1.675 million.
The original three-bedroom, one-bathroom cottage on a 556m2 plot was gutted from the inside to make room for an additional bedroom and bathroom.
Mr. Bye, in charge Flipping Homes AustraliaOf the $950,000 turned over, $288,000 was pure profit as it cost $688,000 to renovate.
He is now on a mission to educate other Aussies about the hard work and amount of money it takes to flip houses.
Previously: This 1970s brown-brick home on New South Wales’ Central Coast has been gutted and transformed into a stunning four-bedroom property
After: Carpenter turned housewife Chris Bye, 44, bought the property in January 2023 for $725,000 and sold it five and a half months later for $1.675 million
Mr. Bye has been renovating homes for the past ten years and remodeling for the past four and a half years. He says it takes his team of 15 people an average of five months to complete the process.
‘Before I started, I always wanted to start flipping houses. Home design and architecture are my passion, and so are renovations – I live and breathe it,” he told FEMAIL.
‘I love buying a worn-out, dilapidated property and turning it into something modern. The properties we buy are something most people would never enter.
‘This 1970s house we bought for our recent renovation was in great disrepair and hadn’t been touched in decades. It still had the original kitchen, carpets, curtains… everything!’
Mr Bye said that by renovating older properties he is “saving them from being bought and demolished” by investors or companies.
The original house had an outdated green kitchen
Now it features an open plan living and dining area, as Mr Bye said ‘that’s what people want’ rather than a house with multiple small rooms
The Hamptons-style property is breathtaking with skylights and a back deck
The classic seventies style radiated throughout the one-story house with yellow walls, small tiles in the bathroom, a green kitchen and a large backyard.
Now the house has an open-plan living and dining area, six skylights to welcome the sun, a beautiful freestanding bath and an outdoor terrace.
The master bedroom has an en suite bathroom and there is also a separate living room at the front of the house.
Mr Bye warned that the process of flipping houses can be ‘very stressful’ as there is ‘a lot of money and risk involved’, but ‘everything is calculated’.
“We follow a very strict process to find the right property, make sure it is below market value and plan in advance exactly what we are going to do,” he said.
‘This 1970s house we bought for our recent renovation was in great disrepair and hadn’t been touched in decades. It still had the original kitchen, carpets, curtains… everything!’ said Mr. Bye
The master bedroom has floor-to-ceiling windows and an en suite bathroom
He never buys real estate at market value because it is ‘too risky’ after allocating all the additional costs.
“We always want to make sure we find a property that is suitable for a renovation to add value,” he said.
When Mr Bye looks for properties to renovate – a process that can often take months – he looks to add another bedroom and bathroom, as these increase value the most.
‘I like to buy real estate from the 1970s to the mid-1990s. Very often those homes have a formal lounge or dining room,” he said.
‘People no longer want several small rooms in houses, they want open living. So the formal dining room is often turned into another bedroom.
He also looks for “large, unnecessary” laundry that can be turned into an extra bathroom.
The original bathroom had small tiled, outdated cabinets and yellow walls
Now there is a freestanding bath, a lush shower and double sinks
As for the other advice, he said, “Prepare, plan and take care of your mental health.”
With every home change, Mr Bye and his team faced unforeseen challenges – from water damage, plumbing and electrical problems to a rotten substructure.
But he said it is “inevitable” to get into trouble when you knock down old houses.
‘Make sure you invest in yourself first by researching the process. Use social media, start following people and be aware that this doesn’t happen overnight,” Mr Bye said.
Everything except the four walls and the roof was changed
As for other advice, Mr Bye said: ‘Prepare, plan and take care of your mental health’
Mr Bye has also launched a ‘house flipping guide’, detailing the costs and work required to flip houses.
‘I want people to be armed with all the knowledge they need before they get started. “A lot of work has gone on behind the scenes and if it is done wrong you may not make a profit,” he warned.
The course consists of 18 chapters and 80 videos that explain everything from how to budget with a ‘master spreadsheet’, hidden costs to consider and tax costs.
It’s perfect for beginners looking to modernize a small room to those confident enough to tackle a complete renovation of their home.
