I am a newbie regarding renovation and in my other post i spotted the word "over capitalizing". I would like to gather your opinions on this to avoid any such issues down the track.
I am not sure what would considered "over capitalizing". This is a 3 bedroom, 1.5 bath, 18 year old, two story townhouse. I am planning to live here for 3-5 years and then might turn it into an IP. The property has been rented at $400 per week with its current condition. I have maximum of $40k to spend.
The kitchen is rather old and in an ugly dark green colour, which i am planning to get a complete new one. And the current budget for this is around $10K including all appliances (which will be $2K). I haven't quite decided on the bench top yet, a stone bench top might look nice, but i am not sure whether it is overkill for a townhouse. I am currently leaning towards getting a laminated bench top for this reason, but i am a bit worried it might not last long, which might be a bad choice in the end?
The bathroom upstairs is a two-way bathroom, which has separate bathtub and shower in one room with a door connecting the main bedroom, and another door connecting to another room with vanity and separate toilet. The vanity is rather old, but other parts are ok, although not of a modern looking. I have never used a two-way bathroom before and initially really wanted to convert it into an ensuite bathroom plus a main bath. But it seems it would be really a costly job, so the other options i am thinking are either just change the vanity to a dual basin one and keeping everything else or a complete reno but still keep it as a two-way bathroom.
There are other things like flooring I really wanted to change them at the beginning. As the ground floor (living, dining, kitchen) is dark gray colour tile through out, of which the colour i really dislike. The upstairs including stairs are dark colour cheap carpet, of which the colour i also dislike. Timber flooring would be ideal, but considering which would need removing all the current flooring, which are only three year old, and all the cost involved, it might be considered "over capitalising", is it? And also maintenance involved if leasing the place out down the track is another concern. The cheapest option i am considering would be buying lots of pretty rugs and put them around the house. It is not ideal, considering all the cleaning involved down the track. P.S. I am also thinking of getting a small dog, which is another factor to consider flooring options.
Sorry, i have too many ideas and really don't know what i should do, how much i should spend to balance my comfortable living and avoid "over capitalising".
I would much appreciate your opinions on this. Thanks in advance.
I am not sure what would considered "over capitalizing". This is a 3 bedroom, 1.5 bath, 18 year old, two story townhouse. I am planning to live here for 3-5 years and then might turn it into an IP. The property has been rented at $400 per week with its current condition. I have maximum of $40k to spend.
The kitchen is rather old and in an ugly dark green colour, which i am planning to get a complete new one. And the current budget for this is around $10K including all appliances (which will be $2K). I haven't quite decided on the bench top yet, a stone bench top might look nice, but i am not sure whether it is overkill for a townhouse. I am currently leaning towards getting a laminated bench top for this reason, but i am a bit worried it might not last long, which might be a bad choice in the end?
The bathroom upstairs is a two-way bathroom, which has separate bathtub and shower in one room with a door connecting the main bedroom, and another door connecting to another room with vanity and separate toilet. The vanity is rather old, but other parts are ok, although not of a modern looking. I have never used a two-way bathroom before and initially really wanted to convert it into an ensuite bathroom plus a main bath. But it seems it would be really a costly job, so the other options i am thinking are either just change the vanity to a dual basin one and keeping everything else or a complete reno but still keep it as a two-way bathroom.
There are other things like flooring I really wanted to change them at the beginning. As the ground floor (living, dining, kitchen) is dark gray colour tile through out, of which the colour i really dislike. The upstairs including stairs are dark colour cheap carpet, of which the colour i also dislike. Timber flooring would be ideal, but considering which would need removing all the current flooring, which are only three year old, and all the cost involved, it might be considered "over capitalising", is it? And also maintenance involved if leasing the place out down the track is another concern. The cheapest option i am considering would be buying lots of pretty rugs and put them around the house. It is not ideal, considering all the cleaning involved down the track. P.S. I am also thinking of getting a small dog, which is another factor to consider flooring options.
Sorry, i have too many ideas and really don't know what i should do, how much i should spend to balance my comfortable living and avoid "over capitalising".
I would much appreciate your opinions on this. Thanks in advance.