All Topics / The Treasure Chest / Renos – what to do first to max revaluation?

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  • Profile photo of caz_in_perthcaz_in_perth
    Participant
    @caz_in_perth
    Join Date: 2003
    Post Count: 29

    morning!

    Well it won’t be long now until we take possesion and start slapping the paint around :)

    Here is what I am wondering though. After the obvious cosmetic improvements of paint and new carpet what would you do? We need to refinance in 12 months (we had to go to a high interest rate due to our circumstances but will switch as soon as we can qualify for a regular lender) and want the valuation to be the best we can get.

    Property is 12 years old and in very good nick but the decor is dingy. It has aircon, very large shed bore/reticulation, double carport under main roof, good but a bit dated kitchen and bathrooms.

    My thoughts are:
    upgrade kitchen
    add roller door to carport
    add picket fence and bedding plants to front (currently just a very neat lawn)
    timber blinds throughout (those are more for me!)
    security system
    spa?

    We can’t do all of it and have no idea what valuers looks at. Maybe we should ask one :) But what would you do?

    Profile photo of noddiesnoddies
    Member
    @noddies
    Join Date: 2003
    Post Count: 151

    Hi caz,[:)]
    Just some general advice.
    Separate ideas into those that cause more work for a tennant, ie spa,swimming pool and those that simplify their life, ie woodchip on garden areas.
    If there are fittings which are old fashioned replace them, ie lights.
    Concentrate on modernising bathrooms and kitchens

    regards
    Bryce Inglis
    [email protected]
    http://www.ipal.com.au

    Profile photo of AnastasiaAnastasia
    Participant
    @anastasia
    Join Date: 2003
    Post Count: 28

    Hi Caz,

    I think it helps to keep in mind the type of prospective tenants you are likely to get in the area your property is in. Eg retirees/elderly, young families, professionals, students, “trendies” or others – these groups will often have different wants/needs. This can give you an idea re what renovations to undertake.

    In general though:
    -if you have decent wooden floorboards under the carpet, I’d be polishing those up, instead of paying to lay new carpet down that will end up looking shabby after a couple of years tenant use anyway. This is always a cool look and is very trendy at the moment.

    – agree with Bryce re sprucing up the kitchen a bit. I would forget the spa, but if the type of tenant you are after is likely to have young kids, definitely consider having a bath, not just a shower – and also do the fence.

    – if the place is dingy – add light whereever possible – eg clever lighting doesn’t have to be expensive, light piant etc. Timber blinds, while very chic, may not necessarily help with this.

    – finally, if security is an major issue in that area, I would consider the carport door and the security system, depnding on what your budget can stretch to.

    Have fun,
    Anastasia

    Profile photo of CreminCremin
    Participant
    @cremin
    Join Date: 2003
    Post Count: 105

    Caz I am jealous! Your doing what hubby and I wanna do!!! Well are gonna do eventually!

    I agree with the others. Kitchen, bathroom, paint and practicality. The only thing I would disagree with is what Anatasia said about polishing up the floor boards. Only do that if you are going to sell the house. Don’t bother about doing it if it for a rental.

    As much as it is very beautiful etc etc… think of the maintenance you will have when the boards are all scratched and crappy looking. Sure carpets will look shabby after a couple of years but they generally come up looking tonnes better after a steam clean. It is difficult to get massive great scratches out of floorboards.

    Check out this excellent BBC show link called design rules.
    http://www.bbc.co.uk/homes/designrules/
    It gives you tips on everything about lighting, colour, flooring etc etc. BRILIANT! We bought the book coz we saw the series and it was fab.

    Hope that helps caz. Maybe we could catch up after the new year when we are back in Perth? Where did you manage to secure this 12 year beauty?
    Cheers
    Steph.

    Work smarter, not harder!.

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