Everyone hopes for a healthy capital gain on their property, but former economics teacher Tony Plummer is expecting a big one for the home that's been in his family for 100 years.
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He's just put up for sale the four-bedroom cottage that was constructed on a piece of land in Clovelly by his grandfather, local builder Malcolm McIntyre.
The price expected from the auction next month is upwards of $2 million – quite a jump from £388, the average price in 1914 of a similar-sized brick cottage in Sydney.
"Yes, the price has gone up a fair bit," says Plummer, 63, with a laugh. "The real estate agent says it's worth quite a bit more now!"
The freestanding house, on a 496-square-metre block at 8 Clifton Road, is pretty much in original condition, with traditional features such as leadlight windows, an old-fashioned gas kitchen, high ceilings and a large welcome entry hall. Much of the sandstone used for the footings was recycled, and the front doors were from a Paddington pub that was demolished.
"I think my grandfather was ahead of his time in that," says Plummer, who grew up with his sister and parents in the house. "It's great that he was looking for ways of reusing old materials."
Real estate agent Simon Platt of Ray White Coogee/Bondi Junction, said the house had good bones but had never been heritage-listed, so was ripe for a renovation, extension or a rebuild, subject to council approval.
"It's difficult to find a 500-square-metre block in Clovelly, and it's certainly on one of the best streets that isn't seaside," Mr Platt said.
"It's also tucked away just moments from the beach, close to schools and parks, has a garage and driveway parking, and it's a raw product you could do so much with."
Mr Plummer's grandfather was from a family of well-known Scottish builders who bought the site from the original subdivision and built the house himself before his marriage, in between building other houses in Sydney's eastern suburbs and in Canberra. He moved in with his new wife, Jessie, in April 1915.
He was later among the volunteers who built Clovelly Bowling Club, where he eventually died in 1959 at the age of 68 while playing a game. His daughter, Lorna, with her husband, Ken, in turn, brought their family up there.
Now their children, Tony and Lee, 58, have just put the house on the market, for an on-site auction on May 2.
"As my childhood home, it has a lot of happy memories there," Mr Plummer said. "But I think my grandfather, who loved the cricket, would have been pleased to know that the house he built has gone on to celebrate its own century, and is ready for its next innings."