A little blue gem (which needs an exterior update)

Hey guys,

Im possibly going to make an impulse buy. (If its classed as impulse after doing DD?) Honestly, I wasn't even looking for a property at the moment, but I just stumbled over this one. But I digress?

This little very very rough diamond is actually strata titled. it looks like its an original farmstead where they've built a dozen townhouses behind it. Im in the extremely early stages of DD, but assuming:

- its not going to fall over if I lean on it
- there's nothing quirky in the strata report
- strata committee give me permission to renovate (should be no problem, its the first thing all other owners in the complex see as the squeeze past to go to their nice 5yr old villas).

What would you do with the exterior?

Based on both a quick and dirty renovate up to a complete restoration (Im yet to do the numbers on which would be the most lucrative outcome yet). Considering, my strategy is buy-renovate-hold (for the long term). My early thoughts on the exterior would be to either bag or clad it (although just painting it would be my cheapest option). Although Ive done large renovations before, I've never done either of these before, so I don't really have an idea of costs or whether its something we could tackle ourselves.

Any rough ideas on whether bagging is cheaper/easier than cladding?

I think the existing materials look like asbestos, so to make things easier, Id update the exterior with the sheeting remaining in place.

Let your creative juices run wild, SSers!

Lou

Louise Pilkington
Pixel Blue Graphic Design
 

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Hi Lou,

What are the numbers? i.e purchase price? Possible re-val? Can you add a room/change layout inside to add further value? Whats the suburb like (low/med/high growth)? Details my dear!!

There are thousands of things you could do... but nailing down what you should do based on the numbers/suburb etc is where the skill comes in!
 
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