From: Michael G
Hi Peoples,
I was wondering if I could open a discussion on the problems/solutions of investing in units.
I live in Sydney and am looking West.
From a cashflow perspective they are pretty close to neutrally geared, if not positively geared, if you take tax concessions into account.
I've had a look at a few units and some were well keep, others not so.
The places I looked at were ranged in age from 10-30years old.
My thoughts were turning towards what can be done to improve a unit, in regards to boosted value?
Because as I understand it, you cannot change the outside appearance, due to body corporate control, so that leaves a units interior.
So the options are...
- walls
- floors
- kitchen
- bathroom
- built-ins in bedrooms.
Walls: what options do we have?
- fill any holes and new coat of paint
Floors:
- new carpet
- pull up carpet, polish floorboards (if exist)
- remove carpet, lay down floorboards
Something that was done to a unit of mine was overlay the vinyl kitchen floor with titles, we just grouted over the top and laided the tiles, it actually looks quite good.
Kitchen:
- paint cupboards?
- change "handles" and tap fittings to modernise the look?
- what other low cost modifications can be made, before replacing the whole kitchen?
Bathroom:
- change the vanity unit? (would this be the cheapest modification that can be done?
- change the tap fittings to modernise it
- change the glass of the shower-recess, maybe, give it a more modern look.
- bath, I've heard these can be reglazed to make it look like new?
Any renovators here?, I wonder with your experience what the cost of some (or all) of these changes would cost?
Please, if you have an idea or experienced please contribute. I'm sure all would benefit.
Michael
Hi Peoples,
I was wondering if I could open a discussion on the problems/solutions of investing in units.
I live in Sydney and am looking West.
From a cashflow perspective they are pretty close to neutrally geared, if not positively geared, if you take tax concessions into account.
I've had a look at a few units and some were well keep, others not so.
The places I looked at were ranged in age from 10-30years old.
My thoughts were turning towards what can be done to improve a unit, in regards to boosted value?
Because as I understand it, you cannot change the outside appearance, due to body corporate control, so that leaves a units interior.
So the options are...
- walls
- floors
- kitchen
- bathroom
- built-ins in bedrooms.
Walls: what options do we have?
- fill any holes and new coat of paint
Floors:
- new carpet
- pull up carpet, polish floorboards (if exist)
- remove carpet, lay down floorboards
Something that was done to a unit of mine was overlay the vinyl kitchen floor with titles, we just grouted over the top and laided the tiles, it actually looks quite good.
Kitchen:
- paint cupboards?
- change "handles" and tap fittings to modernise the look?
- what other low cost modifications can be made, before replacing the whole kitchen?
Bathroom:
- change the vanity unit? (would this be the cheapest modification that can be done?
- change the tap fittings to modernise it
- change the glass of the shower-recess, maybe, give it a more modern look.
- bath, I've heard these can be reglazed to make it look like new?
Any renovators here?, I wonder with your experience what the cost of some (or all) of these changes would cost?
Please, if you have an idea or experienced please contribute. I'm sure all would benefit.
Michael
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