Hi Ken,

I would definately tend to do the kitchen reno but maybe not spend as much as $8k on it. The market has obviously not been great in the past few years, so not sure if your property will have increased in value during that time (despite your $5k reno).

Rather than replacing the kitchen, how about a reno of the existing kitchen? I work with property investors all the time and renovated the most disgusting of kitchens for usually less than $3k-$4k.

Feel free to check out my website for examples/inspiration! http://www.HotspaceConsultants.com

Hope that helps

Have you tried AuctionsRus? They are a great spot to go for cheap bathroom (and kitchen) bits and pieces – vanities, taps, tiles – all sorts of stuff… http://www.Auctionrus.com.au – they have a branch in Eagle Farm.

Remember that you may not need to gut the entire bathroom and start over. You may be able to retain some of the bathroom and renovate around the parts that are ok. I have renovated tonnes of bathrooms using this method (for myself and with my clients) for usually only a few thousand dollars.

Photos on my website if you're interested… http://www.HotspaceConsultants.com (I've also written a sereis of e-Books to help renovators of investment properties).

Hope that helps!