My outdoor renovation plan (photos)

[chunho01]

Hi, I am currently considering adding a backyard, or more appropriately, a 'sideyard' to my IP before doing a cash-out refinance. Right now the property doesn't really have a proper backyard/garden, so I am wondering by doing the following reno, would I add some value to maximise my cash-out?

Plan:

1. Remove old ugly fences
2. New merbau fence (perimeter shown below)
3. Replace kitchen window with patio door
4. Build a small deck right outside new patio door
5. Basic DIY landscaping; grass, flowers
6. Buy basic outdoor furnitures and cantilever umbrella

What are your thoughts based on the following photos/drafts/sketches?

New merbau fence required

Intended merbau fence (without door; sample)

Sketch of the idea

'Sideyard' location view from far;trees and future fencing to provide ample privacy screen

 

[bob shovel]

You may be over capitalising so dont go to hard. but using the block better and creating yard is a plus. more attractive to tenants plus increase rent slightly

Remove old ugly fences
New merbau fence (perimeter shown below) Get quotes on materials. A standard pine fence would do the job
Replace kitchen window with patio door Look on ebay gumtree etc to get a bargain.
Build a small deck right outside new patio door instead of a deck maybe look at pavers to create the same idea but costs down. Or dont do it at all!
Basic DIY landscaping; grass, flowers Keep it simple! tenants will not look after these. Get native shrubs and low matenance plants, water tolerant.
Buy basic outdoor furnitures and cantilever umbrella dont bother unless your going to live there or renting as furnished

I have done a sketch. good idea to create a usuable yard, so you might as well make it a good sized yard, it appears to be a smallish block from your drawings. Council may be an issue pending your council, but playing dumb is the aussie way!

Give those hedges a trim or remove if you close them in for larger yard. the other tree adds "garden" free of cost

 

[chunho01]

I have done a sketch. good idea to create a usuable yard, so you might as well make it a good sized yard, it appears to be a smallish block from your drawings. Council may be an issue pending your council, but playing dumb is the aussie way!

Give those hedges a trim or remove if you close them in for larger yard. the other tree adds "garden" free of cost

Thanks for your other ideas!

I kept it in (original blue lines) because of the corner block fencing height restrictions. I'd like the fence to be maxed out at 2m height, and I don't think I am allowed to do so within 3m from footpath. Any lower fencing would create a potential lack-of-privacy issue in my opinion? Just my personal preference, but I thought tenants might think so too.

 

[bob shovel]

true, but you could go the low fence and plant hedges, or trim the ones you have for privacy. or maybe there is another way around it, say put lattice up to 2m?
Check with council for sure though, but dont give your address. Take a drive around and have a look at other corner blocks you might be able to sneak it in without them knowing!

 

[chunho01]

Was browsing around, found this: *hidden*

I like this type of look, instead of the full glass aluminium sliding door. I'd probably paint it white though. But $500 for an used one, is that dear?

 

[bob shovel]

That's a good price! We did the same, make sure you get a good paint. We had a painter do ours and used a special oil based paint as the timber trends to leach out if you don't use the right paint. But new for that type would be 1000+

 

[chunho01]

That's a good price! We did the same, make sure you get a good paint. We had a painter do ours and used a special oil based paint as the timber trends to leach out if you don't use the right paint. But new for that type would be 1000+

Just for reference, how much did it cost you to get that installed? They would need to cut the bricks and remove the existing window.

 

[bob shovel]

I did a fair but myself and got a chippy mate to put it in, part of an extension

You'll need a bigger lintel across the top. Check bunnings etc for of the shelf one.

Make sure it fits in first being 2100 could foul with your eves.measure down from the eves plus 100mm then make sure it's at or above floor level so you know it will fit.

Probably get it done in a day for a chippy. Say $60/hour. So around 500-600.

Check the door comes with hinges and handles in good condition, you'll need to buy those too

 

[chunho01]

Decided to tune down the plan a bit so that I minimise the risk of over-capitalising as pointed out by Bob.

Revised plan:
1. Remove old ugly fences
2. New merbau/timber vertical fence
3. Replace kitchen window with patio door
4. Prefab merbau/timber steps
5. Solar porch light
6. Some colourful flowers <$200
7. Shade Sails

 

[bob shovel]

Good plan!

Just watch that shade sails can be a sort term solution if you get a cheapy or not installed correctly.
Also same for the solar light. Check how much light thru give off, you might need to bite the bullet and put up a separate light

 

[chunho01]

Got a quotation for standard flat top picket with exposed post and cap, treated pine; $167.4 per metre!

I thought under $100 per metre would be a more reasonable price? I'm waiting for more quotes to come in. Most doesn't provide quote sight unseen, and difficult to arrange one due to property tenanted.

 

[Bhp19]

Got a quotation for standard flat top picket with exposed post and cap, treated pine; $167.4 per metre!

I thought under $100 per metre would be a more reasonable price? I'm waiting for more quotes to come in. Most doesn't provide quote sight unseen, and difficult to arrange one due to property tenanted.

Standard price for treated pine pailing fence is roughly $55 per meter, seems an awful lot more just for exposed post and cap, what area are you getting it done?

 

[chunho01]

Standard price for treated pine pailing fence is roughly $55 per meter, seems an awful lot more just for exposed post and cap, what area are you getting it done?

Around Sunshine (VIC). It's a corner block, fence to be installed at sideyard.

Picket fence to be exact, the ones with the slight gap (vertical pickets).

Another quote came in, $120 per meter. Is this even normal? Or am I paying a premium because of the picket design?

 

[Bhp19]

Sorry, I misread your previous post. I can't comment on picket as I've always stuck to pine pailing apart from a merbau feature fence I built myself, still sounds pretty pricey though, maybe ask for an itemized quote then call a timber supplier to find out how much a picket costs.

 

[chunho01]

Updated renovation plans

So I have revised my upcoming reno plans to just:

1. Fence up the side
2. Cut and install patio door at kitchen; this opens into the newly fenced sideyard

All up will definitely not cost more than $5k.

My broker is not too keen on this though, and says it is really up to the bank valuator. His is concerned because property had only settled half a year ago. Is his concern valid? I still feel there is a good chance I could pull out some equity. Plus a rent increase after reno.

 

[bob shovel]

It won't be a big value add, bit well make it more appealing to tenants plus potential 5-10 per week rent increase

 

[Mick C]

I find outdoor renovations of this type does not add that munch value in your "cash out" ie bank valuation.

You might spend $30k...and the bank value may only come back 10k more without outdoor renos....or in some cases none at all.

However outdoor renos does increase the sell/current market appeal and tenants

 

[WattleIdo]

So I have revised my upcoming reno plans to just:

1. Fence up the side
2. Cut and install patio door at kitchen; this opens into the newly fenced sideyard

All up will definitely not cost more than $5k.

My broker is not too keen on this though, and says it is really up to the bank valuator. His is concerned because property had only settled half a year ago. Is his concern valid? I still feel there is a good chance I could pull out some equity. Plus a rent increase after reno.

Did you have to cut any bricks to get the door in? Was it easy? Good idea.

 

[chunho01]

Did you have to cut any bricks to get the door in? Was it easy? Good idea.

Yes, will need to cut bricks, currently that space is occupied by a tall window, so I will need to widen the space to fit a double french door.

It won't be a big value add, bit well make it more appealing to tenants plus potential 5-10 per week rent increase

I find outdoor renovations of this type does not add that munch value in your "cash out" ie bank valuation.

You might spend $30k...and the bank value may only come back 10k more without outdoor renos....or in some cases none at all.

However outdoor renos does increase the sell/current market appeal and tenants

Sounds like my broker's concern is valid then. Bank valuation may work differently to sell/market appeal.

At an estimated $5k cost, and a potential to increase rent and attract better tenants, I'd say worth a shot regardless of risk that valuation may comes back short? OR, do the reno while tenant moved out, but hold on to valuation until 12 months has passed since settlement (another 6 more months to wait; yep, tenant contract is a short 6 months one)