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A new kitchen will cost for cupboards etc about $3,500 plus sink taps $250- $300 – plumbing & electricity about $2,000 dishwasher $600
tiles and tiling walls $700. paint & extras perhaps some plastering $150-250. Oven Hotplates & Fan $1000.00. If you are retiling floor then allow about $16.00 per sq metre for tiles and $40 per sq metre to lay. If the kitchen is in good condition just repaint walls & cupboards- there is also paint on the market to paint the tiles if they are old fashioned and put on new modern cupboard door handles. Making it look fresh & clean with light colours will lift it. I would strip the wall paper and just paint walls & ceiling and timber skirting – 4 litres of each will cost $120.00 total but will make huge difference. Most of the cost will be your labour and about $400 for paint and new handles to lessen 70’s look, but will make it more attractive to rent and probably get you an extra $10 per weekThanks for your comments, I will do just that, hold and borrow against property for further deposits on CF+ properties – finding them is the hard part, in today’s environment,.
Thanks again , your detailed responses were clear, concise and convincing.Thank you all for some very valuable advice,. although the return is not in the plus 10% league, I am also looking at it for potential unit development. Land size is approx 130′ wide x 106′ deep and is on a corner. Currently a weatherboard built clinic, but fully renovated with 6 rooms. The agent tells me the vendors, are the operators of the business also,he claims they wish to sell in order to expand their businesses as they have another clinic. I do have some doubts of course. It is zoned residential 1 . The lease is already in place, from July1 2005 for 5 years automatic annual CPI review and 2 options of 3 years each Rent $3000 per month plus GST.
Would a broker be the way to go to get the cheapest loan – small or no deposit and sub 7% sounds really good.
Thanks so much for your help
