How much is it worth: Erskineville terrace in need of help

[Luckyrooster]

Saw this in Eerskinville:

http://www.realestate.com.au/property-house-nsw-erskineville-113445419

Looks like a mess and a building report will probably say otherwise, but does anyone on here have an idea of what a sensible price to pay for this at auction is?

As a beginner, I'm trying to suss the potential reno costs on a project like this too. New paint, new floorboards? New plaster, new bathroom, kitchen, walls removed, outside pavers fixed, new windows, new frames, new wiring, new roof...the list goes on. Any idea how I could cost these kinds of items?

Does anyone know what a newly renovated 3bedder terrace in Erskineville rents for?

Any idea how much a DA costs for a 2nd story?

Auction says around 600k, but does that mean at auction to expect 700k?

Thanks for helping with my questions.

 

[ok180]

If you have to post a thread like this that is not the type of property you should be buying. Try to start with something that just needs a tart up reno and go from there.

 

[Savanna100]

argh !!! massive damp problems and floor issues, it would need $$$$ to fix plus banks baulk at lending on places that aren't habitable. This is one where you would need cash to carry it whilst you go a DA to basically knock it down to the party wall and build something fabulous. Not for the faint of heart.

 

[Savanna100]

BTW, you can alwasy find out what DA fees are by looking on the relevant Council's website. This one is in the City of Sydney and I know that they have their fees listed.

 

[Shahin_Afarin]

argh !!! massive damp problems and floor issues, it would need $$$$ to fix plus banks baulk at lending on places that aren't habitable.

Savanna I agree with all of your posts and I am huge fan but this is not correct. It is not that black and white and also it is not as difficult as this. I have funded many houses in the Eastern Suburbs ring that "look" inhabitable. Ultimately it comes down to a number of things such as LVR, Risk Rating, etc.

Regards

Shahin

 

[Luckyrooster]

BTW, you can alwasy find out what DA fees are by looking on the relevant Council's website. This one is in the City of Sydney and I know that they have their fees listed.

Thanks for the tip Savana.

Any idea what this may be worth at Auction?

 

[John_]

look in the thread titled thoughts?

 

[Luckyrooster]

look in the thread titled thoughts?

Ahh thankyou. A threat titled 'thoughts' is very vague, hence why It would never come up in a thread search.