viability of reno for a Unit (as opposed to a house)???

[mixedup]

Hi,

Issue - I'm not sure whether to go for an IP purchase with a reno in mind in terms of whether it should be:
a) Unit/Appartment - where I can stay within a 10km-15km ring of the City (which is what I prefer re location), or
b) House - but would have to be further out from City (e.g. 15km+)

Question 1 - Relative to the value of the property, is a Reno on a Unit generally much less viable in terms of ability to manufacture some additional $?

Question 2 - While I've noted all the above, and comments on which of the options a) or b) you'd go for?

Notes: Maybe not needed for questions but I have $500-$600k to play with and talking about Brisbane (would need to deduct a little from this for reno costs, but have already taken out transfer costs).

thanks

 

[Propertunity]

The short answer is that there is no difference....both can be viable (or unviable).

Bear in mind with a unit, that you may not, for example, be able to put in a floating timber floor (either at all, because of noise transmission to units below, or without BC permission, which can play havock with your time to do the reno).

The same goes for wall removal in a unit. You need BC permission, and even if granted, you'll need engineer's certif etc.

 

[rosehill]

The short answer is that there is no difference....both can be viable (or unviable).

Bear in mind with a unit, that you may not, for example, be able to put in a floating timber floor (either at all, because of noise transmission to units below, or without BC permission, which can play havock with your time to do the reno).

The same goes for wall removal in a unit. You need BC permission, and even if granted, you'll need engineer's certif etc.

Just read this useful advice which I haven't thought of previously. How about changing carpet to timber floor/tile for a single storey villa (a block of 3 or 30)? Is it required to obtain BC permission too?

 

[Propertunity]

I think you'd be pretty safe in a single storey. The issue where I've seen people come a-cropper is in unit blocks and the noise from walking on floating timber floors above is transmitted through the ceiling below. I've seen BC's then issue an order to remedy back to carpet.

Ask your BC just to be on the safe side.

 

[Melbournian]

you have to get owners corp approval - for timber flooring. Most would request 5mm underlay and acoustic rated to BCA standards. You would also need your floorboards fire rated as well.