IP Renovation - what to prioritise?

[Melbournee]

Hello all,

Got a 360-400K house in outer Melbourne - the house itself is old but in good condition and on stumps.

Bathroom is getting a bit old but still not too bad.

Kitchen has no cupboards - currently has one of those wooden stand up pantry units.

The house is on the stumps and the flooring in one of the rooms seems to have Sunk in (possible restumping needed).

This house is to be rented so what should I concentrate on? What gets you more rent? Best Bang for buck in form of a rental return ?

Never rented a house before so not sure what to give more priority to and also what can be claimed later in tax.

Thanks for any advice.

 

[wylie]

Would be tempted to upgrade the kitchen, bit you really need to sort the stumps out before spending money on things that could be damaged if/when you re-stump. Perhaps you can get away with having the stumps checked and packed without the big expense of full re-stumping.

Next would be bathroom.

 

[Outback Nomad]

Agree with Wylie.

Use to live out in Moree NSW and renovated a house. Alot of the house out there have issues with the soil causing the house to sink and become uneven.

Depending on location re-stumping can get very expensive 40 to 50K. Event the price of re levelling can run in to a few thousand. But as Wylie said I would not do any major renos until it was done as there is a large chance that it will cause major damage during the re-stumping/levelling.

It may also have an impact if you are looking to sell on the property as many buyers are hugly conscious of this problem (at least in Moree they were).

The house next door to us is still on the market today (empty) and has been so for nearly 18 months. The owner renovated without re-stumping/levelling and can't give it away. My place on the other hand was relevelled and renovated, it sold within three months.

Cheers.

 

[DaveM]

Fixing structual issues should always come first. A structually sound house with an old kitchen can still be rented out indefinitely, a structually unsound house is untenantable.

I would get quotes for restumping/packing and also for a bunnings kitchen.

 

[Melbournee]

Firstly thanks for the replies.

Depending on location re-stumping can get very expensive 40 to 50K.

wow! really? For the house in question it seems really high. What is the usual range of restumping - is it by number of stumps they replace/put in?

So what exactly does happen with stumping?

Also, who is the best person to ask if the house needs stumping or not. Someone who comes in for the quote doesn't sound like an unbiased source?

 

[wylie]

Get quotes from two (or three) local stumpers. You have to trust them, and the quotes and scope of work suggested should be similar with each stumper.

Or get in a builder if you have one to give you his opinion. But you still need the quotes.

We have a stumper we trust, don't bother with other quotes, and his prices is per stump and depends on height and access etc I suppose.

Stumping, like floor sanding is pretty cheap in my opinion. Unfortunately, it is a "hidden" cost and you won't get any more rent for it (except as mentioned in a reply above, it makes the house uninhabitable).

 

[Outback Nomad]

The 40 to 50K for re-stumping were by builders out in Moree. Everything seems to cost more out that way. I think the lowest we got quoted was 38K for the restumping. Turns out it only needed to be relevelled as it was not too low to the ground and I did it myself with a builder mate. I think alot of these people try to upsell you through a bit of scare tactics.

Not sure about prices in the city but a relaitve of mine who is a builder said it would still be around the 30K mark for a complete re-stumping. Like I said not sure in the city but that is what I was quoted.

 

[wylie]

Not sure about prices in the city but a relaitve of mine who is a builder said it would still be around the 30K mark for a complete re-stumping. Like I said not sure in the city but that is what I was quoted.

We have never had a whole house restumped, but from memory the last job we had done was a couple of head-height stumps plus RSJ to remove one stump and that was maybe $3K (little more, little less - cannot quite remember).

$30K for a complete re-stumping sounds like a royal rip-off, but maybe the house has $50 stumps?

I have in my mind that one stump is between $200 and $600 depending on how high, access etc, but that could be completely wrong. There is a lot of "stuff" in my head, and I may have the wrong figures completely.

 

[skater]

Like the others have said, fix the structural problems first. Once that is done, the best bang per buck would be paint. Paint the whole house, and if you've got funds left over maybe do something with the kitchen.

 

[Melbournee]

Sorted then - Will get the house restumped at the very first chance.

What next - Fresh coat of PAINT OR Kitchen cupboards?

My wife is of the view that because its an appropriate rental for a family - no wife will take it without any cupboards in the kitchen?

I am thinking Paint might make it shine?

thanks again to all.

 

[skater]

Paint! Paint is cheap, and bang for buck, you get a lot. You could always get a Nathan special for the kitchen. Around $750 from Bunnings. A couple of cupboards & a pantry. It's not fancy, but it's better than nothing.

 

[locko24]

Paint is a great way to add value, especially if you don't mind rolling up your sleeves and having a crack yourself!

 

[DaveM]

Also have a look on ebay, some perfectly fine kitchens selling on there for next to nothing.

 

[lizzie]

paint - and make some doors out of ply/mdf and paint to seal.

 

[Melbournee]

You could always get a Nathan special for the kitchen. Around $750 from Bunnings. A couple of cupboards & a pantry. .

sounds interesting.

Anyone got some pics or a link to the thread where it was discussed?

Is this the "famous off the Youtube"- turning cheap burnt properties etc around and make huge profits Nathan we are talking about?

 

[skater]

sounds interesting.

Anyone got some pics or a link to the thread where it was discussed?

Is this the "famous off the Youtube"- turning cheap burnt properties etc around and make huge profits Nathan we are talking about?

Yeah, that's him. I haven't got a link to the kitchen, but if you go on down to Bunnings you will see it there.

 

[jonesy427]

sorry to do a bit of a hijack, but when renovating say kitchen and bathroom and painting the whole house. how do you claim it? or do you have to wait until you sell?

would like to know how you get on with the leveling/restumping too!

 

[The Y-man]

Sorted then - Will get the house restumped at the very first chance.

What next - Fresh coat of PAINT OR Kitchen cupboards?

My wife is of the view that because its an appropriate rental for a family - no wife will take it without any cupboards in the kitchen?

I am thinking Paint might make it shine?

thanks again to all.

Bang for buck we have found are:

1. Re-Paint
2. Replace Carpet (ours are all capreted)
3. Curtains
4. Light fittings
5. Taps

I guess you can even pick up an old fashioned pantry cupboard second hand (refinish it) for the kitchen if required.

The Y-man

 

[The Y-man]

sorry to do a bit of a hijack, but when renovating say kitchen and bathroom and painting the whole house. how do you claim it? or do you have to wait until you sell?

would like to know how you get on with the leveling/restumping too!

Depreciate.

I would try to claim the restumping as a repair (accountants please confirm! )

The Y-man

 

[The Y-man]

So what exactly does happen with stumping?

They jack up your house like changing the wheels on a car, take old stump out and put new one in, lower house. Mind you, the process cracks all your plaster boards etc as the house gets twisted out of shape if only lifted on one side.

The Y-man