A three-bedroom “diamond in the rough” may make you wealthy

A three-bedroom house that is really a “diamond in the rough” has recently come on the market and offers not only a significant savings over pricing in the city but also the potential to make you a tidy sum of money.

House prices in Lightning Ridge have fallen by 17.6 per cent according to data from realestate.com.au yet the median house price still sits at $175,000

The cabin, which is in the small hamlet of Lightning Ridge in rural New South Wales, is only advertised for $65,000 and provides the chance to live in one of the very few locations where it is possible to mine a rare stone.

The tiny outback community of Lightning Ridge, located in northwest New South Wales and close to Queensland’s southern border, is well renowned for its profusion of opals.

The three-bedroom house has two vehicle spots, a bathroom, a rainwater tank, and is entirely solar powered.

If that weren’t enough, Lightning Ridge is covered with rare black opals and has a long history of mining.

A good grade black opal may sell for up to $15,000 for only one carat, making it one of the most expensive gemstones in the nation.

Buyers are being drawn in by the possibility of digging up a rare black opal, according to Glen Ryan, who is now marketing the state’s cheapest house.

“Lightning Ridge is black opal country, and I believe it serves as a wonderful allegory for the current state of the economy.”

You’d be astonished at how many customers travel the eight hours to pay yearly rates and leasing expenses of less than $1000, said Mr. Ryan.

Homes here may be purchased for as low as $35,000 or as much as $250,000.

Many people like getting away from the rush and bustle of city life and the coast; it may also be the ideal vacation destination for families.

There is also possibility for future growth, including room for equipment and expansion.

According to Mr. Ryan, the cottage is perfect for a couple or a single individual searching for a peaceful and economical living.

Despite a 17.6% decline in Lightning Ridge home prices, the median price of a home there is still $175,000, according to realestate.com.au statistics.

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