Just a quick post to see what everyones ideas would be on the following subject.
What would be the top say 10 things you would renovate to say a House or unit to either increase the CoCR or to add value in the way of equity?
Interested to see everyone’s replies.
Cam
1. front landscape (curb appeal)
2.Kitchen
3. Bathroom
4.Floors
5. built ins
6. extras depending on area ie alarms etcWe buy properties in Adelaide. No Agent Fees.
[email protected]
phone 0412 437 582Hi cameronsmithaus
sorry but they are totally different.
house
The best way to add value quickly is rip the roof off and add a second addition do it cheaply.
The return is higher then any thing that will be below, bedroom are only walls but the value flys up.
units
a bit hard to rip the roof off so two areas that sell a unit, kitchen and bathroom, min the bedroom and extend the bathroom the price goes up.
or close off the balcony with shutters and run a track system for the flat screen tv and use the balcony as a tv room the price goes up by 40 to 50k in surry hills sydney.top ten would be.
get a real estate seller in (walks the walk and talks the talk ie he sells)
he will tell you what he can sell or rent
do the bathroom and kitchen min
rip out everything in the house and unit that you can carry in the way of furniture get a rental design company in to furnish the house or unit. If rental tell them this is the old tenants stuff and will give them a number to rent the same stuff.
Get a landscape company in to get the garden into shape if a house or in the case of a unit hammer the body corporate 5 month before sale or rental that you are sick of the sh-t hanging around and they will give you the job of cleaning it up ( we are creatures of habit the flow of least work usually wins) and they pay and do as above.
next when its all done then ask a propective tenant or if your selling purchaser to have a look.
The price will rise depending how good at it you are.
we buy or rent on what we like so make it what people like and thats what these guys/girls dohere to help
If you want to get involved in some of the projects I’m involved in email to [email protected]Hello Cam & Guys,
I have just recently reno a 2 bedroom unit here in Sydney. Some of the top points for units that I believe attract greater value, quality tennants, and rents are: ( no particular order.)
1). Kitchen, modern, ergonomics, space conscious.
2). Bathroom, modern, storage, sleek n clean.
3). Carpets
4). Blinds
5). Security, this may inlcude window locks, screen doors.
6). If not cooling, then ceiling fans as we did, remote control with lights,
7). Look at open the kitchen area up, i.e. demo part of the wall. Sense of greater space.
. Satalite,optus,foxtel cabling.9). Nice nuteral colour paint.
10). Dont over capitalise the demo reno work, budget it, stick with it
And shop around for the products, i.e kitchens etc, you be surpirsed of the savings out there.Regarding the house sitution havent reno there yet
hope this helps a little.
P.s after the above reno, we recieved an extra $40 a week rent and very happy tennants.
Cheers
We are in the middle of a renovation on an 80 year old house 5km from Brisbane city. We have –
1. Painted internally.
2. Pulled up carpets and polished floors.
3. Removed a wall so the living area and breezes flow from front to back door.
4. Removed the ugly bathroom and are ready to put in a new one.
5. Bought some bathroom fittings on eBay, got some great bargains. Sold the old tub on eBay too.
6. Pulled out 1950’s built ins. They were beautifully made but didn’t suit the era.
7. Repainted the kitchen and tarted up the benchtops. It is 1950’s but we didn’t want the expense of a new one. We did remove the big base cupboard under the elevated stove and have bought a stainless steel freestanding oven/cooker at a very good price.
8. Ready to instal a $24 per metre floating floor (not real timber, but looks fantastic) in the front closed in verandah. This solves the problem of gaps in the original verandah boards at a cheap price, which we won’t regret when we revert the rooms back to a verandah down the track.
9. New lights in every room, again bought extremely cheaply, but low voltage downlights to “sex” the place up a bit. Also changed the two rusty ceiling fans to brushed steel ones and got rid of the cereal box size old controls.
10. New curtains – trendy ones, but again, bought ages ago ready for the next reno.
This house will turn from a well kept, but very tired “old lady” look to a modern, trendy rental and we are very happy with the changes.
I’d guess we’ll get $60 more rent per week and a better type of tenant, but we won’t know for a couple of weeks.
Very satisfying.
Wylie.
. Satalite,optus,foxtel cabling.
And shop around for the products, i.e kitchens etc, you be surpirsed of the savings out there.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
