Hi fellow investors,
As I'm about to embark on a full renovation to a house that will no doubt need to withstand the test of time with renters, I wanted to know from experience some of your golden nuggets regarding simple renovations which have proven:
1) To suit the rental market
2) Withstand abuse
3) Are cost effective
4) Minimal maintenance and repair
I'm also interested to see what NOT to do which has caused pain and money to maintain.
I'll start off:
Tiles – ticks the above criteria (maybe not 3, but long term it'd definitely be cost effective)
Barkchips – for gardens, unless you renter is a avid gardener. Barkchips. as much as you can.
If you say pets allowed at your rentals – don't install carpet. Not worth the money.
A splash of paint is a cost effective way to add value. It doesn't really help with durability though.
Stick to a neutral colour!
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
If the floorboards are good (they often are in old places) just polish the floorboards. Easier to repolish that repair tiles, lino or carpet. Personally I hate places that are tiled everywhere.I think it makes the place seem cold and uninviting. Like a rental, not like a home. I do like carpet in bedrooms though.
When buying fittings expensive doesn't always = better. Don't over capitalise (it's not your PPOR) buy buying stuff "you" have to have.
Look at items to see how sturdy they are, eg vanities. Some look like they would fall apart if you sat on them (don't ask!).
You'd be surprised how far a good bleach of bathroom tiles, sinks and windowsill clean/paint + buying a $50 new basin/tap set (from bunnings) can make a bathroom look 5 years younger and add value to your rental asking price.
We have an IP with beautiful hardwood floors and have bought cheap bulk/scrap carpet to DIY cover the living room and bedrooms. AKA rental proof our flooring, which is a major feature if we decide to sell it in future.
Jimmy86 | Future Assist SMSF Specialists - Bris | Melb | Syd
http://www.futureassist.com.au/setupansmsf
Phone MeSelf-managed super specialist administrators and advisers
Great tips guys
What about benchtops? Ceasarstone bench as opposed to laminate?
I'm thinking ceasarstone (purchased wholesale) because it will last a lot longer and will not be damaged by heat, knife slicing or peeling.
Pricewise stone is at least 5 times more costly. Plus install is harder. Laminates are held in with screw clips and can be easily cut to size and shape. Replacing a laminate benchtop if you needed to sell will be cheaper the stone.
The ceramic ceasar stone is still fairly pricey but is coming down in price.
it really should be based upon the age, type and value of the property.
A million dollar house. The stone benchtop is required, a 200k unit, laminate should be fine
Stone benchtops can chip, break. Don't be under the illusion that they are indestructible And definitely not cost effective.
As Wilko said a stone benchtop on a cheap property is overkill.
Agree with catalyst. I work with stone all the time and I would have to say laminate would be much more durable than stone. The only advantage stone has over laminate is that it won’t swell up when soaked in water.
I see, this is very helpful. I looked at pricing online for laminate tops and it does seem a lot cheaper and easier to install.
Would love to hear more about renovations to AVOID
Hi – here are a few of the things I often will recommend as a renovation designer/consultant to investors;
1) Kitchens – laminate doors/drawers not 2-pac as it scratches too easily. Or vinyl wrap can work well. Make sure if you go with laminate the doors/drawers have pvc not tape edges. Don't do white grout anywhere in kitchen or house (dirties too easily). Go basic on appliances but ensure good warrantee. Incl dishwasher is that is the norm in the suburb. Laminate tops as the cost for stone is as others said just too high. Make sure lots of storage (incl pantry) as not enough will drive tenants potty.
2) Bathroom – spend extra on good shower head. Waterproof walls well. Prep work is imperative. Ensure you check out all tradies are licensed to do the work they say they can do (sight license). Tile floors as opposed to vinyl as it will last longer (though obviously more expensive). Vanity – go for practicality (ie lots of storage) as opposed to looks. Include extra storage in the bathroom if not a linen cupboard nearby.
3) Carpets – Spend a bit extra on Solution Dyed Nylon loop pile. Nylon is too scratchy (and looks horrible) and wool is too expensive.
4) Depending on location, add fans to all rooms
5) make sure larger rooms have built in wardrobes
6) If target market are students, consider including whitegoods/washing machine etc as an optional extra
7) Low maintenance garden
Just a few ideas that popped into my mind,. Hope they are of some help!
Jane – Hotspace | Hotspace Consultants
http://hotspaceconsultants.com/home
Email Me | Phone MeRenovating for Profit specialist
You must be logged in to reply to this topic. If you don't have an account, you can register here.
