Hey Guys,
i was just looking for rough opinions of what returns people believe they see from general value adds.
ie, renovating a Kitchen, may cost $10k, but usually add value of about $15k, thus, a 50% return.i know it varies from area to area, and property type etc.
but would be good to get a topic around peoples thoughts, on what adds the most value, etc….Tim
And also what sort of increase of theweekly rent that the improvement will have.
Chris.
I really find that renovating adds a lot in house's actual price . Whenever i have to sell my property i renovate it and then only go in market
Hi everyone
I live up north and you can't beat putting in an air con for best value adding even for for rent increases
Thanks Rob
i have always been told kitchens and bathrooms add the most value??? is this true??
It all depends on how you spend your dollars. You can spend $5k or $25K on a kitchen or bathroom and not see much difference between the two results. If you buy tiles and taps from the auctions, get the cookware from a seconds shop, (still with warranty, maybe just a damaged box) and do a lot of the work yourself, you will be surprised how much you can save.
From memory the Reno Kings like to spend $1 to get $4 back as a rule. Never under estimate the power of paint, often tiles can be painted instead of being replaced and think how much that saves.
There's lots of books out there on this subject. Have fun.
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