Is 2 weeks enough time to organise a bathroom reno and finance it ?

Hi

My tenants gave me 2 weeks notice that they will be vacating on August 2nd.

I'm thinking of doing a bathroom reno. It is a good opportunity to do it now as I have money in the bank and I can afford to have it vacant for a little while whilst the work is done.

Its a 1 bed 41 sqm. Renting for $280 pw atm.

Also how much do you think it will cost? $2 K, $3 K. Would also include a new hot water system. The old one works fine but it looks quite old.

I also have no idea how to go about organising all of this lol. Its a good time to learn hey.

Would I need to refinance or just go and get a small investmentloan. I dont want to use any of my savings if I can help it. Although if I had to I could easily afford $3 K. I wouldn't want to spend any more than that of my own money.

How exciting!! :D My first project

ps whilst living at mum and dads I now have (after i get my tax return) around $30 K in savings. I'm doing well now. I dont know if you remember but 1 and a half years ago i was in a hole.

thanks for your help
 
What is the tiling like? If in good condition can you get away with a professional resurface and new fittings.

If someone is doing it all for you including demolition I'd say 2 - 3K would be just for the labour and dumping - if you're lucky.
 
2 weeks is plenty, and you've got 2 weeks to prepare and get everything ready so you should be fine. I'd start looking for tradies ASAP though, finding a good tradie ready to start in 2 weeks could be difficult but not impossible.

Hot water system may be your major expense and could cost you 3-4 weeks rent, if it works fine can you just 'tidy' it up or build a cupboard around it?
 
and

Can anyone recommend a good company to do the reno? ta

Property is in Perth in the north eastern suburbs.

Do you have any photos of the bathroom from your purchase or inspections, some of the more talented (than I) interior design or renovation SS members maybe able to give some great ideas based on those?
 
I'd start by checking how much i want to spend, and how much more rent you'll get. If your rent won't increase, or it's minimal, I'd do nothing.

+1

A low cost refurbishment can sometimes command about the same as a new bathroom, assuming the old one is not that bad that it needs to be ripped out - is leaking, tiles falling off the wall, etc.
 
Last edited:
I'd start by checking how much i want to spend, and how much more rent you'll get. If your rent won't increase, or it's minimal, I'd do nothing.

http://somersoft.com/forums/showthread.php?p=1052039#post1052039

Yep. I agree! I decided not to go ahead with the Reno after talking to my PM. I won't be able to get any more rent, it's not worth my while at this point in time

Check out my thread in the property management forum for more discussion if anyone's interested :)
 
Thanks everyone for your replies. Something to think about for another time I decide to Reno. Im actually kinda glad not to do the Reno as I think it would have been a little stressful being so rushed to get everything done. If I decide to do a Reno sometime then I'd make sure I'd start organising/researching a lot sooner
 
Top