Hi somersofters!
Looking to purchase our first IP which has some great features but needs a Reno. It's a large 3x1 but with rather small bedrooms
Wondering if anyone could provide some input on the following costs- trying to determine if it's worth our while to purchase and reno.
The aim is to increase value but also rental yield
Kitchen- new appliances, replace bench tops, new door handles, : $3,500
Bathroom- new vanity, toilet, shower screen : $2,000
Pull up carpet and lay floorboards - $7,000
Paint the whole place including ceiling. There's also a lot of panelling $5,000
There's some other things we are considering which we have no idea on!
Turning the current bathroom / toilet into 2 bathrooms - would involve knocking down a wall and building a new one. Total area would remain the same (it's a large bathroom)- is this worth it to get a second bathroom?
Extend one end of the house by 2m to make rooms bigger- so total increase of around 15m2. The house has vaulted ceilings so this would just be an extension of this- any ideas on cost for this?
Thanks in advance!!
Looking to purchase our first IP which has some great features but needs a Reno. It's a large 3x1 but with rather small bedrooms
Wondering if anyone could provide some input on the following costs- trying to determine if it's worth our while to purchase and reno.
The aim is to increase value but also rental yield
Kitchen- new appliances, replace bench tops, new door handles, : $3,500
Bathroom- new vanity, toilet, shower screen : $2,000
Pull up carpet and lay floorboards - $7,000
Paint the whole place including ceiling. There's also a lot of panelling $5,000
There's some other things we are considering which we have no idea on!
Turning the current bathroom / toilet into 2 bathrooms - would involve knocking down a wall and building a new one. Total area would remain the same (it's a large bathroom)- is this worth it to get a second bathroom?
Extend one end of the house by 2m to make rooms bigger- so total increase of around 15m2. The house has vaulted ceilings so this would just be an extension of this- any ideas on cost for this?
Thanks in advance!!
