24 Fern Road, Upper Ferntree Gully VIC 3156

Freshly renovated two-storey | four beds in three-bed suburb | expansive hills views | 653m² block with side access | auction guide mid-$800s. This property presents a configuration advantage in its market, offering four bedrooms and two bathrooms in a suburb where the typical stock is three-bedroom, single-level houses. The recent, high-quality renovation-particularly the brand-new kitchen and main bathroom-positions it above standard offerings, reducing immediate capital expenditure for a buyer. Its two-storey layout creates distinct living zones and a balcony with views, catering specifically to growing families or those seeking separation of space. The land size is consistent with the area, but the building coverage of only 19% preserves garden space and potential for future outdoor living or landscaping, enhancing its appeal in a family-oriented, hills suburb. The primary risk is its pricing tension against suburb medians; the guide sits just below the typical three-bedroom house median, but the added bedroom and renovation premium must be justified against recent, direct comparable sales. The bushfire overlay imposes ongoing compliance costs and may affect insurance premiums. However, the scarcity of renovated, two-storey homes in the area creates a rarity value that typically sustains resale appeal. For a buyer, the commercial logic is acquiring a turnkey property in a serene location that matches family functionality, with the trade-off being a potential premium for its condition and configuration. Proceed with a disciplined bid aligned to its functional premium over unrenovated three-bedroom comparables, as it is best held as a long-term family home. Recent nearby sales context includes 22 Fern Road (next door) estimated at $760,000 for a 3 bed, 2 bath on a similar sized block. This property’s guide, while higher, is substantiated by its additional bedroom, comprehensive renovation, and two-storey layout. The comparison underscores the value being asked for modernised, more spacious family accommodation in this pocket.