What helps add value for renting out?

[Perchy]

Hi
The following are the things I believe my 2 bed unit needs for renovations
- plasterboard internal exposed brick wall - every wall
- Kitchen
- Bathroom
- Closets

Being on limited budget & having only 6 months, then rent it out - what would you guys recommend would be the cheapest/easiest to do to ensure it was worth spending $ to get a higher rent appraisal? Your advise is much appreciated

 

[Cartoon]

i have done/doin all ove the above in my 2 bed room place.
currently my cost is at approx 3500. this includes
All plasterboard and materials (still need cornice at 1.70 an meter)
New kitchen with new stove, oven and range hood
Plumbing
Rubbish removal

Im doing jst about all the labour my self and the little things will add up like window and door trimmings ect ect.

 

[BayView]

I voted kitchen, but I reckon you need to make sure the bathroom and the kitchen are clean, neat and fresh.

A brand new Bunnings or Ikea type kitchen will set you back around $5k, and if you do a lot of the bathroom work yourself you could do it for less than $2k easily.

These things may not get the rent up much though. They may only make it more rentable.

Check with a few local agents what renoed similar units are renting for before you start.

 

[MCS_80]

Great thread Perchy.

In my opinion without seeing the property, id spend money on the kitchen. Keep it clean and as modern as you can. I am speaking from a tenants point of view.

I would rather have a great kitchen than a great bathroom or closet space.

To help with your decision making process, judge which area is the worst, and fix that first.

Hope this helps.

Cheers

Mick

 

[Alabex]

IMO - Tenants will go for good kitchen and bathrooms first. And kitchen above bathroom. Then i would probably do walls and then carpet (provided the carpet is still okay and not to stinky). If the carpet is 1960 shagpile - well then that would bump it to the top of my list.... Any pics to help us see current condition????

 

[PrimeCommercial]

All plasterboard and materials (still need cornice at 1.70 an meter)

There's quite a lot of modern looking places around the have square set ceiling's or even a shadow line. There's no cornice the wall and ceiling just meet squarely
but it can work out dearer.

http://www.gyprock.com.au/downloads/uploaded/cornice_fe8a.swf

 

[Cartoon]

There's quite a lot of modern looking places around the have square set ceiling's or even a shadow line. There's no cornice the wall and ceiling just meet squarely
but it can work out dearer.

http://www.gyprock.com.au/downloads/uploaded/cornice_fe8a.swf

I looked at doing shadow line but having to replace the ceiling plasterdoard due to lengths ect ect. Shadow line is soooo nice and clean, also a suspended palsterboard celing looks even better.
Sisters boyfriend is a gyprocker so yeah we explored lots of options lol.
thanks for the info tho

 

[Cartoon]

There's quite a lot of modern looking places around the have square set ceiling's or even a shadow line. There's no cornice the wall and ceiling just meet squarely
but it can work out dearer.

http://www.gyprock.com.au/downloads/uploaded/cornice_fe8a.swf

I voted kitchen, but I reckon you need to make sure the bathroom and the kitchen are clean, neat and fresh.

A brand new Bunnings or Ikea type kitchen will set you back around $5k, and if you do a lot of the bathroom work yourself you could do it for less than $2k easily.

These things may not get the rent up much though. They may only make it more rentable.

Check with a few local agents what renoed similar units are renting for before you start.

Im sorry to all the ikea and bunnings lovers out there but there kitches are a dam right ripoff. my kitchen was going to be $70 cheaper from bunnings than the kitchen place. benifits of the kitchen place, no infills required so its maximum space used, also there put together no flat packed.

 

[PrimeCommercial]

Im sorry to all the ikea and bunnings lovers out there but there kitches are a dam right ripoff. my kitchen was going to be $70 cheaper from bunnings than the kitchen place. benifits of the kitchen place, no infills required so its maximum space used, also there put together no flat packed.

Your right they are.

http://www.diykitchen.com.au/
this mob in sydney I've found are the cheapest flatpack or if you know how to do your own cutting list try http://www.pinewoodperformance.com.au/

 

[quoll]

didn't vote, couldn't decide with out seeing pictures of current fit out.

closet / wardrobes are the bottom of the list. gyprock and painting, then new light fittings and power points / switches really brings a place into the current style.

the kitchen is important but depends on what it looks like currently as to how much work is needed.

bathroom should be inexpensive due to size, would be worth doing.

pics please would help.

cheers
quoll

 

[RumpledElf]

Your right they are.

http://www.diykitchen.com.au/
this mob in sydney I've found are the cheapest flatpack

Being a total cheapskate myself (I was going to get a Bunnings kitchen as they are about 25% of the price of what I can get locally) that diykitchen place is a little over half the price of the Bunnings ones just going on a quick flick of the unit carcass and door prices. I see they'll freight anywhere, not just Sydney.

Ever installed one? What's the catch with them being so cheap?

Oh, and I'm doing a full reno as well (see sig!) and we're up to about $2100 or so now when I get around to updating the sum to reflect today's spending spree. That figure covers about 100sqm of new floors, full house of paint, lots of joists, new doors, lots of fill because some idiot rammed about 10,000 nails in the (bright blue) walls of this house and left huge holes in the plaster everywhere, and quite a few miscellaneous things like nails, screws, paintbrushes, towel rails etc. I have yet to buy a whole new back wall/window (kitchen window is frosted louvres in a really terrible masonite wall), floor coverings and a kitchen and wardrobes weren't even on my radar. But from a big-picture perspective, I'm just giving this house a new coat of paint, new floors and a new kitchen, its just a little more work than you'd expect because the house was in such bad condition to start with.

 

[yorke]

I think that since most renters don't have a lot of furniture plenty of closets would make it more appealing. A nice kitchen would probably be next on the list.

 

[HandyAndy888]

Im sorry to all the ikea and bunnings lovers out there but there kitches are a dam right ripoff. my kitchen was going to be $70 cheaper from bunnings than the kitchen place. benifits of the kitchen place, no infills required so its maximum space used, also there put together no flat packed.

I disagree...IKEA kitchens come in much much cheaper, BUT ONLY IF YOU GO THE PLAIN WHITE. If you go anything else but the base quality (which is very good by the way), you may as well go with a cabinet maker. I have now done two kitchens, both of which were about 60% cheaper than the quotes we received for almost identical fit-outs.

 

[Xenia]

Kitchen, Bathroon, clean and neat will make properties very rentable!
worn out and out of date properties attract poorer quality tenants and cause more problems.

Brand new houses in bad suburbs also do the same

 

[buzzlightyear]

1. Kitchen
1. Bathroom
3. Storage space,
4. Clean & 'un-offensive' floor coverings
5. Un-offensive colour scheme
6. Heating/cooling, security (security door, deadlocks, window locks etc).

If budget allows, leave plaster boarding till last. Kitchen & bathroom are equal first.

 

[Buzz]

I rent - between renovating and living in houses - and I can put up with an older kitchen ( must have a dishwasher as on prerequisite) and an older bathroom (as long as it is clean) but if there is no closets I walk - it is just to much hassel in carting them around and storing them when I don't need them.

Jane

 

[Perchy]

Thanks all - seems kitchen is the most voted.. Alot of chefs or hungry people here

What renovations have you guys done that justified the rent increase - ie. Spent $5K in reno but increase in rent of $50 a week

 

[RumpledElf]

We are expecting the $6-8k that we will spend (floors, kitchen, paint, electricals, plumbing etc) will give us upwards of $90pw extra rent. However I think we might be an outlier - house was previously rented for $130, order to improve capped it at $60 and we expect it to get back to near median market rent when we are done which seems to range from $150-190pw for the older style houses depending on the state of the house. I will be absolutely ecstatic if we get $170 (not likely, but y'know) as this figure is slightly more than the combined mortgage payments on that house AND my PPoR

 

[Sonya@RenoKings]

Tile Paint!!

Tile Paint! I love tile paint!

If the kitchen is solid and in reasonable condition, try to avoid changing the carcasses - it starts getting expensive then. If you can, just change benchtops, paint cabinets/doors, change cupboard handles to modern ones and paint the tiled splashback (assuming it is tiled).

For painting tiles, if the tiles are not going to get wet, you can use a primer (ask at Bunnings paint section) and then you can just paint over with your wall or trim paint. If the tiles are going to get wet (say in the shower), use WhiteKnight Tile and Tub Paint.

White & Neutral for light and bright.

If the kitchen is carcass is cactus, then what a shame - it's a replacement job. I had a great success with an Ikea kitchen.

Sonya

 

[BanjoSmyth]

Hi Mate

The best way to decide what to do when your renovating is to think what you would like if you were living in the place.

Oh and remember that it is usually the woman that make the important decisions in a relationship - Like which house they are going to rent.

So make sure you do a complete renovation on the 'Pool Room and the Bar'

Cheers

Banjo Smyth

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