Building an IP - features

Hi all

We have purchased a block of land in Deception Bay in Brisbane to build our first IP on, and wanted to get some advice on what features add value. In particular, is it worth spending the extra k to put a fancier facade on the house? (the estate has a mix of facades and there is nothing stipulated in the covenants)

Also, is it worth spending the extra for an under roof, lined alfresco as opposed to the old style colourbond patio? (one of the designs we are looking at doesn't inc the Alfresco and the builder is quoting just under $8k to get this added - not inc concrete).

Thanks

Brays
 
Hi Brays,

Congrations on the land.

If the budget fits go for the following:
4 beds
2 baths
2 remote lock up garage
air con to the main bedroom and kitchen/living area
covered patio area - slab or paved, colorbond cover
dishwasher
Have the house wired and ready to take foxtel and the internet.

These are just the basic things that renters have been asking for.
 
HI there
when we were rebuilding after the bushfires in Canberra - we actually got a copy of the requirements for the Defence Service homes - as a guide to what should be included in our property. These are some of the things as follows:


GENERAL

· 2 Keys to each lock (all locks keyed alike where possible)
· Energy Rating 4 Star minimum
· Security screens to all opening windows and external doors
· All batten light fittings to be supplied with open glass shades
· Water connection including 2 external taps (1 front & 1 rear)
· Full termite protection (approved)
· Full boundary fencing (wing fences & gates, minimum height 1.5m)
· Aluminium sliding windows with locks and flyscreens
· Face brickwork preferred
· Colourbond fascia and gutters
· Colourbond roofing or concrete tiles
· Full driveway and paths (to meet development conditions)
· Outdoor entertaining area (minimum size 20m2), concrete or paved finish with pergola covered with polycarbonate roofing (laserlite 2000 or equivalent) connected to stormwater
· External power point to pergola area
· Smoke detectors as required
· Solid core front feature door
· Internal doors (colonial style)
· Door stoppers to all hinged doors
· Painting (premium quality wash and wear)
· Adequate outdoor lighting to all external doors & clothes line
· Ducted gas heating with Electronic thermostat controller
· Hot water systems (minimum 185ltr gas or 315ltr electric)
· External TV antenna
· Concrete pad under clothes line with path to clothesline (750 mm wide)
· Gainsborough round door handles throughout
· ELCB or RCD protection to all electrical circuits
· Data points to all bedrooms and study with wiring terminated at an external box
· Telephone outlets to kitchen & main bedroom with one line connected to provider network

ENTRY

· 1 centre light
· Door bell
· Ceramic tiled floor
· Weatherseal to front door – RP4 Raven or similar
· Security door and closer
· Window furnishing to sidelight windows
· Deadlock to front door
LOUNGE

· 2 double power points
· 2 light points
· 1 TV outlet
· Carpeted floor
· Vertical blinds (no chains) to windows with child safety cords

DINING

· 1 double power point
· 1 centre light point
· Carpeted floor
· Vertical blinds (no chains) to windows with child safety cords

FAMILY ROOM

· 2 double power points
· 2 light points
· 1 TV outlet
· Security sliding door (if applicable)
· Ceramic tiled floor
· Vertical blinds (no chains) to windows with child safety cords

MEALS

· 1 double power point
· 1 centre light point
· ceramic tiled floor
· Vertical blinds (no chains) to windows with child safety cords

HALLWAY

· 1 double power point
· 1 centre light point
· Linen cupboard with double doors
· Ceramic tiled floor (preferred)

RUMPUS ROOM

· 2 double power points
· 2 light points
· 1 TV outlet
· Carpeted floor
· Vertical blinds (no chains) to windows with child safety cords





KITCHEN

· Fully laminated, to include: - Overhead cupboards
- Dishwasher space with service access holes
- Refrigerator space 1800mm x 900mm minimum
- Microwave oven space 600mm x 500mm minimum
- Pantry
· Stainless steel sink with 1.5 or 2 bowls
· Ceramic tiled splashback to benchtops and under overhead cupboards
· Flickmixer
· Slide away rangehood vented externally
· 1 round fluoro & downlights to sink & bench area
· Power points required - 3 doubles for benchtops
- 1 single for refrigerator space
- 1 single for dishwasher
- 1 single to microwave space
- 1 single to rangehood
· 1 tap to dishwasher and access holes to cupboard
· Electric wall oven
· Gas cooktop
· Ceramic tiled floor
· Micro venetian or holland blind
· Wall mounted telephone outlet

BEDROOM 1

· 3 double power points
· 1 telephone outlet
· 1 centre light
· Built in robe or walk in robe, to include adequate hanging and shelves or drawers
· Carpeted Floor
· Vertical blinds (no chains) to windows with child safety cord
· Privacy lock

BEDROOM 2,3,4 and 5

· 2 double power points
· 1 centre light point
· Built in robe, to include adequate hanging and shelves or drawers
· Carpeted floor
· Vertical blinds (no chains) to windows with child safety cord

STUDY

· 2 double power points
· 1 centre light point
· Carpeted Floor
· Vertical blinds (no chains) to windows with child safety cord
 
$8000 may not be expensive as it depends on how big the patio is. It's roughly around $350 psqm without concrete slab. Minimum patio size is 3mx3m. We added a patio and it cost us around $3k for 3m x 3m.

I think it's worth it considering as it's under roof. For the same size in Colourbond you will still need to pay around $1000 including install and excluding slab. If it's any bigger than 3m X 3m, I would be going for colourbond or even a pergola.

The only thing I ever buy/upgrade from the builder (they add their margins on top) are:

- deadlocks to all extrenal doors
- Motorised garage with 2 remote controls around $550
- if not panelift then upgrade to panelift doors
- upgrade all internal doors to Colonial
- If not stainless steel then upgrade to stainless appliances
- depending on the quote - get overhead cupboards for the kitchen. If overhead cupboards is too expensive then just upgrade from slide out rangehood to canopy rangehood. (slideout ones require overhead cupboards)
The canopy will look just as nice and if you really want, you can put up two shelves on either side for decoration.
- rendering to the front only or depending on the quote, rendering to the whole house or rendering to the front with paint and bag to the sides and rear. (this is usually cheaper than changing the facade i.e potico, gables etc)
-brick rendered letterbox $350

If you want a brick house then you will need some nice features but if you plan to render it then you probably don't need to upgrade the facade as the rending will make it look really nice once comepletely finished with garden, blinds etc

For everything else, I try to pick colours, taps, tiles, laminates etc within the standard range. Some builders have limited choices but it doesn't matter to me coz it just makes the decision easier to make.

I feel that people don't judge a house just on one or two things i.e plastic moulded basins instead of semi-recessed procelain...it's the whole package and how liveable it will be. Otherwise it's very easy to get carried away at colour selection. When there are 10 different door handles in frontof you ofcourse you wnat the nicest one but I mean, I don't even notice the door handles at home and don't care either.

Then you will probably need to set aside around $20k to finish off the house.

- 2 air conds (1) to main and (1) to living
- fans to all bedrooms and family
- downlights over kitchen bench and hall at front door
- if builder doesn't inc exhaust fans then you might aswell put tastic lights
-upgrade to all double power points and an extra power point at the kitchen bench, 1 extra phone line in master bedroom or study
- tv antenna
- security screens to all windows and doors or an alarm system (the alarm is cheaper..it's around $1200 no back to base) but I always go for security screens about $2k
- dishwasher not necessary for a rental...quite a hassle actually. i only get it if the builder throws one in for free.
- tiles, carpets, landscaping, fencing, light fittings, blinds, etc
 
We find it is easier and cheaper to add the patio under the main roof. The market expectation on quality is rising as tennants who pay top rent are expecting more standard features. Ceiling fans,airconditioning and dishwashers are a must these days to achieve good rent. All the features already mentioned are pretty standard these days as well.

Feel free to contact me if you are still looking for a builder as we can help you with your construction at a very competative price with all the features.
 
I believe the 3 main areas things tenants looks for within a property (in no particular order) are -

1/ Security. - for themselves, belongings & car.
2/ Comfort. - Heating, Cooling, other creature comforts & pleasing surroundings.
3/ Spaciousness. - they want enough room inside/outside without feeling closed in.

Hope this helps.
 
Brays hi,
reading the post and have been a bit slack lately not visiting site as often as one should. :-( One thing I have found that is becoming almost a requirement these days is a "water supply" to the fridge area to allow the connection of the ice/cold water features of the newer fridges. Cheap to put in and leave if not used when building, expensive once built and you have a request from a tenant.

best of luck

Norman
 
I agree with all of the foregoing. Just one word of caution though. When considering including, or for that matter excluding features, you need to be mindfull of the area where the IP is located. Over or under capitilising could be very expensive.

Me thinks............


Cheers Chrisv
 
How about get a pre valuation done on both cases to see if it's worth the extra Ks you'll be spending. But you will incure some valuation costs of maybe $800 to $2000 because you'd probably have to get 2 separate valuations done. Don't bother with an appraisal from a REA because they are not as accurate so you'd end up wasting both yours and his time.
 
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