go ahead with basic reno or not

[francesca]

This is my very first post and after reading the forum threads for some time, I now have question please.

I am purchasing my first investment ppty, a period house which needs some improvements, however it is very liveable now and would rent pretty readily.

I have been advised that I wouldn't have to spend mega money to make some basic changes to the layout.
I want to open up the lounge to the meals area, at present there is a standard door way from one room to the other which makes it a bit confined. Also extending the wall of the 2nd bedroom making it larger and bringing it back in line with the main hallway. There are many unecessary door ways and I planned to seal up a couple of these too.

My question is, do I do these small renos now while I have a relative who would do it well and cheaply, or as it's not going to add to the rental return greatly, do I just rent as is. My one concern is down the track my relo mightn't be in a position to help out and it could be a lot more costly to make these improvements in years to come.

Thanks for any advice you can give me.
fro

[asy]

Hi Fro!

Welcome to the forum!!

I have moved your thread to the "Adding value" forum, as this is where you will be most likely to get replies!!

The help and feedback forum is sorta more for help on the actual forum (posting problems, etc).

Anyway, I hope this helps you to get a better response!

asy :D

[francesca]

Hi asy
thanks for your reply and for putting my post where it should be under "adding value". I'll get it right next time!!
cheers
fro

[asy]

You are welcome Fro.

Don't worry about putting the thread in the 'wrong' area... it's better to post than not to post, and that's what the mods are here for... To look after the posts!!! :)

Anyway, in answer to your question, some wisdom from my very wise mum:

"Take help when it's offered, because if you don't you may need it more later."

So, I say, if you can afford it, take the relo's help if it's there, and hopefully you will rent the house out for more. Even if the rental isn't appreciably more, you will probably add value and as such, should you decide to revalue or sell, it should be worth the effort.

hope this helps.

asy :D

[Kevmeister]

I would be tempted to make the changes now, not only for the potential valuation improvements that result from making the house better, but also because you may find it the most convenient time before tenants move in.

Otherwise, you will probably have to do it according to when your tenants leave, and you relo might not be available at those times.

Moving a wall is non-trivial - have you checked the wall is not load-bearing yet? Sealing up a door is trivial and you may find that task is well within the capabiltiies of any handyman.

Kevin.

[francesca]

Thanks asy and Kevin for your replies. My relo has had a builder friend take a look at the house incl discussing load-bearing walls. As you've suggested/confirmed, I'll go ahead and make these improvements now, before the very first tenants are in and (as asy's mum said while the offer of help is there).

I really appreciate your responses.
thanks
fro