All Topics / Help Needed! / 24 bought my first IP and looking to renovate – help!

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  • Profile photo of kris07kris07
    Participant
    @kris07
    Join Date: 2007
    Post Count: 101

    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.

    Profile photo of tenorBbtenorBb
    Member
    @tenorbb
    Join Date: 2006
    Post Count: 27

    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.

    Profile photo of trakkatrakka
    Member
    @trakka
    Join Date: 2004
    Post Count: 257

    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.

    Profile photo of yarposyarpos
    Member
    @yarpos
    Join Date: 2004
    Post Count: 247

    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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