Really bad experience.
Although nicely furnished, the place felt a bit abandoned as we entered the air was heavy and we can feel the spiderweb as we move to explore the cottage. Being a bit remote, one can expect spiders and bugs in a place, but we found up to nine spiders (we stopped looking afterwards) hanging in the kitchen sink, bathtub, bathroom, near the aircon, TV or bed (basically every room, corner you can imagine). And they were ranging from almond-size all the way to hand sized.
On top of that, the place was filled with dead bugs and spiders (more spiders!!) on the floor and the carpet which made it look like no one had cleaned the place properly weeks before our arrival.
And the cherry on top, all sinks and bathtub were spewing brownish looking water that we did not feel safe to drink (and we didn't drink any that night). In any case, that prompted us to leave first thing in the morning (as soon as the coffee shop opens in town to get some water) as it was too late to find something else.
Overall, I don't recommend this place, which is a shame since it has so much potential, it is just not well maintained. We will be looking to get a refund as it was quite pricey ($250 for night). I'd recommend this studio in Healesville (very close to Waburton) where we stayed for Christmas: https://www.airbnb.com.au/rooms/1160839?