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Is this reno viable? First time!
It rarely is...put together your numbers and make a fair offer...if its not acceptable there will be other properties in the area you can use the same numbers etc on...if there is only 1 property in the area you feel your numbers can work on then you are in the wrong area!- andrewtfarr
- Post #8
- Forum: Adding Value
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Is this reno viable? First time!
The formula on a structural reno is purchase price x1.9 needs to equal sales price. BUT - if you are adding a bedroom or bathroom at that price point it should be close to achievable...the key is really making sure you stick to your budget or find ways to come in well under budget...I know...- andrewtfarr
- Post #7
- Forum: Adding Value
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Is this reno viable? First time!
From purely a numbers perspective here is how Cherie Barber does a high level overview of a project. - Review what reno'd properties will go for. - Purchase cost x1.42 needs to be either under or matching the sale price (as per above point) - This is taking into account a reno budget of 10%...- andrewtfarr
- Post #2
- Forum: Adding Value