Hi,
I am newier investor and have one house that needs renovation. Please, forgive me this sutupid question. How do you estimate a reno costs?
I have quite small 3 BR/2 Ba house, it requeres complete interior renovation, especially kitchen and bathrooms, painting, cracks plastering, and a little bit exterior – to refloor a veranda. How many cash I'll need approximately? 5K, 10K, 20K, 30, 40?
It's more unlikely i can do a reno by myself, could you, please, recommend me some good builders in Vic?Thanks,
Hi,
I've just been watching one of Steve's videos and he says 10% of the purchase price. He has a 33% rule for reno's I'm not sure if the info is anywhere else on the site.
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeEstimating the cost of a renovation is notoriously difficult, but also very important. In the context of an investment, it may be a good idea to first establish a budget befitting the investment value, and then applying that budget to the renovation. In taking that approach you can at least inform your designer/architect/builder of your budgetary constraints in move your planned renovation in the right direction. This should shift your focus towards the highest priority/most important issues.
Thank you for your answer! I'll try to work out…
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