Renovating Design for Maximum Profit

[Steve R]

Attached are before and after photos of a renovation/ extension I did in Mt Eliza, Vic. It was a pretty challenging job on a number of fronts. The double brick structure presented difficulties altering room sizes internally and externally and the original conventional roof system was under engineered.
All in all though the final outcome, I think turned out pretty good.

This was a pretty big renovation and the facade of the house was going to be changed very differently from the original house. The aim I had in mind during the design was to ensure that after the renovation was complete I wanted potential clients to not know that a renovation had ever been done. Not that I wanted to deceive them, I just believe it is a good mark of a designer/ builder when they can make a renovation, not look like a renovation.

One of the most common mistakes I see when I look at a renovation is that the new renovation/ extension is obvious and in many cases doesn?t match the original house. This in my opinion is the typical inexperienced renovator?s mistake and it will affect any potential returns, no questions about it.

Design and build for maximum profit, not for minimum pennies!

 

[MTR]

The before and after photos look great.

Something else I see is renovators over capitalising for the area because they have not research end values. I do agree with your comments getting the reno to match existing property is vital.

Are you happy to share the numbers?

Cheers
MTR

 

[nhg]

Damn... how much did that cost?

Was there a change for the entire roof?

 

[Steve R]

I would share the figures MTJ, however i did the project as a JV with the owner of the property and I'm pretty sure they wouldn't want me to disclose their end of the deal.

I can say the construction costs were relatively low considering the before and after result. Mainly due to light weight construction used and maximizing the existing structure.

If you separate the front verandah area and the carport/ portico, not much "structurally" has altered. The roof looks like it has had a complete makeover when in reality the front verandah is acting like a raised parapet wall hiding the existing roof.

Other light weight and "builder" friendly materials like Hebel blocks and Hardies Blue board were used for timber framed columns and for building new external walls.

Structurally the problems with the existing conventional roof were fixed when internal remodeling was done.

Profit was made at the design stage. I took into account what the problems were and turned them into fixable features. Meaning that if for example i had to add a lintel internally to support a prop the roof required I did it in a way to make it a feature, which in turn added value for the cost to do the work.

Knowing how to make money out of a mess always starts at the planning stage, and this renovation was no different.

 

[cd83]

Very nice work

How long did the reno take?

 

[Steve R]

Sorry MTR, typo, not MTJ

 

[Steve R]

In total just under 9 weeks. I was pretty fortunate with this one as i only lived around the corner. I virtually rolled out of bed and onto the driveway.

MTR, you bring up another valid point that i have seen many times, not just in renovations but also new spec homes. Uneducated investors over capitalizing on a property they just aren't going to see the returns on. Usually this is due to a number of reasons but the main 3 i see a lot are emotional attachment to the project or poor design planning and no clear objective.

When you start adding things that you like instead of things a potential client will like the project no longer is a product and the profit is the first thing that starts eroding away.