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The rof has a few cracked tiles and really does need repointing, but the above price is for a full restoration. I could just replace the tiles etc for much cheaper. The house is rented by my parents and intented to hold onto it for many years, hence the want to make the shower a bigger, modern one. I do worry about taking the bath out but it wont be rented on the rental market for maybe 15 years or so. I really need this house to grow in value for future back valuations, so i'm tossing up the possibilities.
The house is a 20 year old brick home built on a slab on the ground. The vendor has offered to pay half of the fee to avoid the deal falling over. I'm not that worried either. Sometimes it is hard to just trust your gut and make a decision.
It is all about risk. This is my first investment home, so trying to be unemotional and be clever.
I am hoping to rent it to family who do qualify as a tenant, so the time frame is fine. I just definately need cash flow poitive. It is so hard to determine with all the rebates etc a clear ROI