Stafford Bathroom Reno - before and after.

[mja]

Nice result MJA.
If i can ask, was it financially rewarding? I.e. what has the valuation increase been post the reno?

Project 1080.

The project: 10 IPs in 80 mths.

Hi Project1080,

I'm going through the refinance motions now.

Before renovation (May 2009), the valuation was $440k. There's been a few houses sell in Stafford for ~ $480k, some renovated, others not so. I'm aiming for a reval of $490k, so $2.50 for every $1 put into the reno roughly.

First thing though, is to get it tenanted, then pass the lease paperwork onto the financier.

-- MJ.

 

[Project1080]

$2.50 for every $1 put into the reno

-- MJ.

Can't complain with that.

Project 1080.

The project: 10 IPs in 80 mths.

 

[Perp]

Is there any time limit between doing renos? eg. If you waiting 12 months and did the bathroom, we already have the shower cubicle and vanity, just no money to do anything with them.

No, but I assume they take a reasonable project-based approach. So if you laid carpets one year, and put in new electrics the next year, the two works were completely independent. The idea is that if you're coordinating trades, then you need a builders' licence. So if your bathroom is completed over several years, because all the works by the plumber, electrician, tiler, plasterer, waterproofer etc all "rely on each other", they'd all be considered a single project.

And don't forget that what you've spent is irrelevant; it's the market value of a professional to do the works that's relevant. So you may be able to paint the room for $50 (cost of tin of paint), but if it would cost you $800 to get a professional to do it, then the cost for the sake of determining project value is $800.

 

[mja]

Bathroom getting ripped out + new photos.

Ok, have just received some more photos.

Here are some photos of the bathroom after everything was ripped out.

The floor has started to cave in, in parts. Notice the flooring in-between the joists? Has anyone seen this before?

Here's also some photos of a freshly painted house (and some new Zip lights from Beacon lighting). I don't have really good old photos to compare with, unfortunately...

 

[Perp]

Looking good, mja, well done!