Open for inspection: Old world homes with modern updates for sale right now

When we talk about the best of both worlds in real estate, it's hard not to picture timeless period homes beautifully reimagined with modern updates.

Think the elegance of a bygone era - ornate detailing, soaring ceilings and architectural charm - seamlessly paired with the comfort and functionality of contemporary living.

From a Spanish Mission-style residence in Prahran to Federation grandeur in Croydon, these are the standout period homes with modern renovations currently on the market.

View Living Senior Reporter, January Jones gives her pick of the property listings.

Victoria: Spanish Mission style in Prahran

This grand Spanish mission home in Prahran has all the timeless details of the style with all the modern conveniences one would expect with a home of this calibre. Built in the 1930s, the home has been impeccably updated to create an opulent and luxurious space.

A sleek open-plan living and kitchen area looks out at lush landscaped gardens, while a gas log fire creates a cosy lounge space. The property features four generously proportioned bedrooms, two bathrooms including an ensuite for the master, and a convenient powder room for guests.

Ideal for buyers looking to entertain, the backyard includes a decked alfresco area, heated pool and remote sun-awning. Located just a hop, skip and a jump from all the best bits of Prahran.

Tasmania: Historic elegance in Sandy Bay

If space is what you're after then look no further than the magnificent 'Blink Bonney'. Set on half an acre in the heart of Sandy Bay, this circa 1820s property is filled with historic elegance and architectural innovation.

A modern extension designed by Gaetano Palmese Architects was added to the property in 2015, and subsequently earned the home accolades in both Tasmanian and Australian architecture awards.

Now filled with natural light and views of the River Derwent, the home features four bedrooms, original formal living room, modern kitchen with charming window seats and professionally landscaped grounds.

New South Wales: Federation grandeur in Croydon

An example of early Federation architecture, 'Kaleena' is an impressive period home with an abundance of style. Built circa 1910, the property has been carefully modernised to combine exquisite ornate details with all the mod cons.

Listed for $5 million, the home features five bedrooms, contemporary kitchen, herringbone flooring and multiple living zones. However, it's in the outdoor spaces that this home really shines.

The backyard is ideal for entertaining (or busy family life) with a swimming pool, outdoor kitchen and bar, gym, studio, basketball court and meticulous gardens.

Queensland: A classic Queenslander in Hendra

Tightly held for the past 31 years, this classic Queenslander in Hendra has been lovingly maintained and carefully renovated. Built in the 1920s, the home features a stylish neutral colour palette, French doors, charming wainscotting, high ceilings, decorative curved archways and stained glass windows.

The five-bedroom home is spread over two floors with a downstairs extension added to provide additional space. Sun-drenched balconies look over landscaped gardens, providing the perfect area to relax with a drink in hand and enjoy the serenity.

Western Australia: An Art Deco masterpiece in Coolbinia

Art deco gems are always a sight for sore eyes, and this Coolbinia home is no exception. Featuring classic P&O details including curved balconies and steel frames, the house is a great example of modernist architecture.

Set on a large 1186-square-metre block, the property features six bedrooms, three bathrooms, multiple living zones and parking for three cars. The outdoor spaces offer plenty of room for relaxing, entertaining and enjoying the pool area

South Australia: Period meets coastal in Semaphore

Only 300 metres from the shore is this grand 1910s stone-fronted villa in Semaphore that blends period elegance with contemporary coastal.

Hamptons-inspired, the modern renovation features cathedral ceilings and exposed beams before leading out to an alfresco dining area and heated pool. With six bedrooms, three bathrooms and space for four cars, this home is ideal for big families, intergenerational living or buyers after a coastal lifestyle with room to grow.