Our first IP settles in a couple of months so we are in the planning stages of what we will and won't do to it before tenants move in. Its a 3 bedroom weather board house, we expect it will get about $230/week rent once it gets some new flooring, paint, tiles etc..
It does need to be re-stumped, but as it is currently its still very clean and tidy and "liveable", just a slightly wobbly floor.
Re-stumping will cost $10K, and I don't expect to be able to get a much higher rental return, but does anyone think a nice flat level house warrants a higher level of rent that one with a wobbly floor???
One other thing I need to consider is that some rooms need new plaster, and wet areas need new tiles, so I might HAVE to re-stump it before doing this work as it may be a waste of time doing this on crooked walls etc.
I would love to hear some of your opinions.
It does need to be re-stumped, but as it is currently its still very clean and tidy and "liveable", just a slightly wobbly floor.
Re-stumping will cost $10K, and I don't expect to be able to get a much higher rental return, but does anyone think a nice flat level house warrants a higher level of rent that one with a wobbly floor???
One other thing I need to consider is that some rooms need new plaster, and wet areas need new tiles, so I might HAVE to re-stump it before doing this work as it may be a waste of time doing this on crooked walls etc.
I would love to hear some of your opinions.