All Topics / Help Needed! / 24 bought my first IP and looking to renovate – help!
Hi everyone!
I'm 24 and just bought my second property yesterday (my first investment property) and I'm REALLY excited!!
Its a 2 bedroom flat 8km out from the Melbourne CBD. I want to completely gutter out the kitchen and bathroom and put in something a little more modern thats going to be cost effective.
Does anyone have any recommendations as to how I would go about achieving this? Where would I get the materials and labor cheap? Can anyone recommend any good (cheap) tradesman in Melbourne?
Many thanks and all replies would be most appreciated.
Kris.
Hi Kris
You haven't specified your skill level so forgive me if I 'tread on your toes'.
To completely gut a kitchen and bathroom in one go is quite an ambitious venture. I renovated my own bathroom about 3 years ago and sourced the trading post, Ebay, seconds shops for materials. Most of the tools I needed I either hired, (Kennards) or even Cash Converters. Is that a choice for you? Are you willing to do the jobs yourself?You can salvage a kitchen simply by painting the cupboards, putting down a new laminate benchtop and retiling the splash back. Save yourself $1,000's there.
Gutting a bathroom is not easy but can be acheived if you remember one simple rule ; waterproof the shower alcove, floor and walls. Escpecially when you knock out the hob. I kept my old bath, (purely because bath's are always a requirement) just retiled.
You'd be suprised what can be done simply by researching the costs for DIY and by keeping your first project/s as simple as possible. You can always improve on the next one.
Good luck.
Paul.I think it's very hard to go past Ikea for cost-effective kitchen cabinets (eg Udden range) and bathroom vanities. Check out their range at http://www.ikea.com.au so you can pick what you want before you go.
just make sure you are looking at it objectively. Do you really need to do the full reno to get a reasonable rent? add the cost of delayed rental to your reno, especially when doing it yourself. It always takes longer than you think…..we are renovating a small unit at the moment, similar distance out. Its amazing what a difference some new taps , power points , a stove , a simple vanity and some paint makes to a place.
If its so old/crappy that its a rental stopper then you really dont have a choice. Agree with trakka re IKEA, reasonable cost with custom fit. If you are handy there are many newish kitchens on ebay and similar. Good luck with your project.
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