You beauty! $99k home with water views for sale, but there’s a catch

An absolute bargain of a property has come up for sale in an area attracting increased buyer attention, but it comes with a serious warning.Located in the pleasant-sounding town of Beauty Point in Tasmania’s north, the four-bedroom house at 105 Flinders Street seems like it could be the bargain of the century.The property is situated on a hill overlooking the resplendent Tamar River, capturing water views that would cost millions in pricey suburbs of Sydney or Melbourne.The property captures sweeping views of the Tamar River. Picture: realestate.com.au/buyThe 1968sqm block offers loads of space to spread out, and the foreshore is mere footsteps from the door.It’s located in a part of the country that’s on the radar of buyers, with house prices in Beauty Point jumping 17% in the past year to a median value of $532,000, according to PropTrack.Advertised for offers above $99,000, the house at first seems like an absolute steal considering the suburb’s median house price is more than five times that figure.The house needs quite a bit of work, but there are limits to what can be done. Picture: realestate.com.au/buyBut as with all bargains, it comes with a catch, and a major one.The prop...