Hi all,
i know this might be a bit of a "how long's a piece of string" type question, but i'm trying to crunch the numbers and figure out if a purchase/reno/sell is worth it or not.
Property is in one of the good streets in Williamstown South, single front, victorian, heritage, usual deal.
i think land size is approx 270sqm and only a 2/1/1 at the moment.
http://www.realestate.com.au/property-house-vic-williamstown-119624967
What i'm trying to figure out is how much is an approximate building cost to do a full rennovation, plus a "first floor" for the back half of the house?
I found this link:http://renoaddict.com/2015/03/04/real-reno-single-fronted-heritage-homes-two-story-transformation/
Albert Park, single front, but seems like it needed a FULL build, the Williamstown prop we're looking at seems to be holding together ok.
The Albert Park build had a $420k budget, which seems a lot more than what would be needed for the Williamstown one?
Does any have any experience in doing reno's in the Hobsons Bay council area?
I was working on a $200-$250k build cost? too low? For this part of Williamstown, the finish would need to be high quality i would think.
The other problem is i have no idea of expected sale price? The Albert Park one killed it, sold for $1.82, which made the whole exercise very worth while but i have no idea what a really nice say 3/2 victorian would go for in Williamstown South? I tried searching sold listings, but couldn't really find anything comparable unfortunately.
If anyone can provide any help/insight/guidance, it would be monumentally appreciated!
thanks!
i know this might be a bit of a "how long's a piece of string" type question, but i'm trying to crunch the numbers and figure out if a purchase/reno/sell is worth it or not.
Property is in one of the good streets in Williamstown South, single front, victorian, heritage, usual deal.
i think land size is approx 270sqm and only a 2/1/1 at the moment.
http://www.realestate.com.au/property-house-vic-williamstown-119624967
What i'm trying to figure out is how much is an approximate building cost to do a full rennovation, plus a "first floor" for the back half of the house?
I found this link:http://renoaddict.com/2015/03/04/real-reno-single-fronted-heritage-homes-two-story-transformation/
Albert Park, single front, but seems like it needed a FULL build, the Williamstown prop we're looking at seems to be holding together ok.
The Albert Park build had a $420k budget, which seems a lot more than what would be needed for the Williamstown one?
Does any have any experience in doing reno's in the Hobsons Bay council area?
I was working on a $200-$250k build cost? too low? For this part of Williamstown, the finish would need to be high quality i would think.
The other problem is i have no idea of expected sale price? The Albert Park one killed it, sold for $1.82, which made the whole exercise very worth while but i have no idea what a really nice say 3/2 victorian would go for in Williamstown South? I tried searching sold listings, but couldn't really find anything comparable unfortunately.
If anyone can provide any help/insight/guidance, it would be monumentally appreciated!
thanks!
