Hi Jase & Flic,

I love reading this thread as i am currently renovating my IP as well which is nearly done to be leased out,  I found out that tradingpost & ebay is great when you are looking for building materials and plants etc. We have saved a lot of money by making some purchases via these resources, we bought a near new kitchen for $3000 with glass splashback and granite tops.
And i will agree with a free man here to use the equity for your next IP, but wish u all the best with your sale.

Keep up this great thread.
Saima,

Hi Jase & Flic,

First i want to say, i am greatful that u have started this thread as i am also in the process of buying a house and renovating it but intend to keep it for rental… while renovation will give me equity to use that money for my next IP purchase…
Your diary reminds me of all the things i should be getting ready to do. and i may start a thread of my own to get assistence..

I must say i was a little concerend for u when i work out the profit for u just as Marc above if u sell the property in 2 months, and i according to property value guide on different online calculators Noble Park may take a little time to jump back see below graph from Commbank…  may be a good idea for u to wait till the freeway starts…

Cheers..
Saima

Median Property Values: Houses

In the last 3 months, median property values for postcode 3174, VIC (Noble Park North / Noble Park / Noble Park East) have decreased by 4%.

Capital Growth in postcode 3174, VIC
Period	Change ($)	Change (%)
3 Months	-$10,000	-4%
6 Months	$10,000	4%
12 Months	$10,000	4%

This table offers a guide to how prices have changed in your area over the past 3, 6 and 12 months. It uses 3-month medians to determine price changes. For example, the three month figure calculated for December 2003 would compare the median price in your area between October and December, 2003 with the median price for the same area between July and September 2003. Three month medians are used to smooth out the large jumps and falls in property prices.

The last 12 months' median property values are displayed below. This includes property values for all loan purposes (includes purchase of property, renovation, equity and refinancing loans).

Month	3174
Jun 06	$263,000
Jul 06	$250,000
Aug 06	$260,000
Sep 06	$250,000
Oct 06	$250,000
Nov 06	$257,500
Dec 06	$260,000
Jan 07	$270,000
Feb 07	$280,000
Mar 07	$265,000
Apr 07	$255,000
May 07