The Schreuder Family have taken out the top spot with their home making the highest percentage of profit. Photo / Nick Reed
The Schreuder Family have taken out the top spot with their home making the highest percentage of profit. Photo / Nick Reed
The Schreuder family have won TVNZ's Our First Home, with their renovated house selling for $721,000 - a 35.88 per cent profit.
The family sold their Titirangi home at auction on Monday, and will take away $290,400 made up of profit from the sale and $100,000 prize money.
After a nail-biting wait for the auction of the third and last house in the family home renovation show, the Schreuders were announced the winner and pocketed an extra $100,000 in the live season finale tonight.
Our First Home followed three families through the buying and renovation of different properties throughout Auckland, highlighting the trial and tribulations of adult children living with their parents again while they all worked on the project together.
Culminating in the houses being auctioned on a live broadcast over consecutive nights, the family who took home the highest percentage of profit was crowned the show's winner.
In the first of the three live auctions on Sunday night, the Gourley family made a 24.87 per cent profit when they sold their three-bedroom Avondale home for $720,500 - $143,500 more than what they paid for it prior to the 10-week renovation project.
The Wardlaw's Te Atatu South property was the last to go under the hammer tonight, selling for $898,000 and pulling in a $228,550 - or 34.14 per cent - profit for the family.
However, it was the Schreuder family - made up of Robyn and Tom Schreuder, their daughter Karen and her husband, Jono Frankle, who took out the show.
Mr Frankle told the Herald after the auction: "It's insane what's just happened. That was the most intense and close finish. It was the biggest suspense and biggest relief when [the auctioneer] finally said sold."
Asked if he'd done the maths in his head to figure out if they had won after the auction, Mr Frankle said: "I was trying to work it out and all I knew was it was bloody close." Mrs Frankle said the journey had been difficult.
"When you're under that amount of pressure and you've got so much work to do and everyone's tired and sleep deprived, there's definitely times when you feel low and like you're never going to get it finished. But we always pulled together as a family."
The additional $100,000 prize money was intended for a first-home deposit, But the families may not walk away with the full $190,400 if the Inland Revenue Department follow up and demand they pay income tax on the profit.
The family could be liable for 33 per cent tax on the profit made at last night's auction, which would see them forced to handover $57,120 to the tax man.
Robyn and Tom Schreuder will also get a chance to recharge their batteries and go on a trip of a lifetime - a luxurious African safari worth $20,000, plus $10,000 spending money.
The Schreuder family. Photo / NZME.
The homes were auctioned by real estate agency Barfoot & Thompson, with each property being viewed by more than 100 people.
The number of bidders registered for each of the homes was between 9 and 18.
Barfoot managing director Peter Thompson said auctions were the best way to sell a home in Auckland.
"Around half of the properties we list are for sale this way," he said.
"In March alone we sold 834 auction properties either under the hammer, or by 5pm the next working day.
"A further 142 were sold in the days post auction."
"It is a more reliable method than trying to judge the value of a property in isolation, and the transparency of what is ultimately a public negotiation means everyone can see how much other bidders are prepared to pay, and decide how far they want to go themselves."
194 Te Atatu Rd, Te Atatu South 3 bedrooms, 2 bathrooms, 1 family room Sold for $898,000 Reserve set a $669,450 Profit of $228,550 CV: $580,000 July 1, 2014 Renovated by the Wardlaws
245 Scenic Dr, Titirangi 3 bedrooms, 1 bathroom Sold for $721,000 Reserve set at $530,600 Profit of $190,400 CV: $400,000 July 1, 2014 Renovated by the Schreuders
238a Rosebank Rd, Avondale 3 bedrooms, 1 office/study, 1 bathroom, 1 sleepout Sold for $720,500 Reserve set at Profit of $143,500 CV: $530,000 July 1, 2014 Renovated by the Gourleys.
