- My mum died recently and now I'm trying to reorganise my life to cater for just one. I'm still feeling fragile and my research skills are not as sharp as they normally are, but getting better each day.
I have inherited (from a friend) a one bedroom unit in Toorak. It needs renovating. I plan to renovate it and rent it out. I can spend $25,000 – $30,000 on the renos.
I live about an hour away from the unit so I thought the best thing for me would be to get in a company to do the whole job.
I found a company called Property Boost who specialise in renovating apartments. Has anyone here had any experience with them? Or does anyone have any recommendations?thanks
LindaWhat sort of renovating does it need?
Andrew
itsandrew
Go as far as you can see and you will see further.
Hi Andrew
It needs serious renovating. The place was built in the 60's and I don't think this particular unit has had anything done since then. New bathroom and kitchen. Place needs painting. New carpet. New hot water system.
Linda
Hi Linda,
It might be worth getting a property manager or two through to give you some advice on how best to renovate to maximise your rental returns. You may find you don't need to do as much as you think.
People on here seem to recommend things like light fittings, flooring, paint, blinds. Changing benchtops and handles instead of entire kitchens may work too. There's plenty of experienced renovators on here that could give you a few pointers on what to look at.
Whatever you end up deciding to do I'd be pretty committed to getting several quotes. Even if you want to use a one stop shop it might be worth having it quoted seperately as well just to make sure you are getting a fair price. Whilst going through this process you may even find you have more strength than you think and be able to manage the renovation yourself.
Interestingly I haven't seen many recommendations for builders/tradies getting around on this site. I have a plumber I have used a few times for odd jobs that I can pass on if you PM me.
Maybe you could also clarify if it is a unit or apartment? It may help others give you some more specific advice about what to look at.
Andrew
itsandrew
Go as far as you can see and you will see further.
20-30 k for a UNIT is massive…it sounds like your either getting ripped off OR over budgeting.
If you get one company to do everything, it’s normally more expensive because they sell it to you as a “package” and it’s hardier to negotiate. Also they will take longer for sure…i can bet ya half way the work will slow down because most likely they have also accepted another job elsewhere.
Your best bet in term of cost savings is to contract each job out…get 2-3 quotes for each job that need to be done- make them come to quote on the same day…or spread over 2 days.
If you want post come pics of the place so we know how bad it really is??
New Bathroom – if it’s just re-title ( $900 material and labor)
New kitchen – If it’s just a change of title + new splash back and stove etc as well – $1300 ( if your cupboards inside are old, you may find a new sheet of “wall paper for the inside” solves that problem)
New paint- $1500 or $400 a day for labor only — Units can be knock off in 1 day, Max 2 ! ( supply your own paint —a lot cheaper)
New carpets- $2000
Hot water system- $600- Plumbers normally charges $200 for labor, supply your own system would save you a lot as well ( a lot of places offer free delivery + removal)Regards
MichaelMick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
Thanks guys
I'm not sure what the difference is between a unit or an apartment. I have put some pictures on photobucket which I got from realestate.com when the unit underneath came up for sale. This one has been renovated and its exactly the same as the one I am dealing with..
http://s288.photobucket.com/albums/ll164/pixie2009/
Meanwhile I am looking for some pics of my unrenovated unit.
The pics called 'joes flat' are of the unit underneath and the other pics marked "298 williams" are of another renovated unit in the building.
I got a real estate agent to get a company to give me a quote to do the whole job and they want $39,000.
Contracting everything out separately would be a nightmare for me because it would take me an hour to get over there and wait for these people who never show up. Finally, when you accept a quote, its another two weeks before they can start. I haven't slept past 4am since my mum died because I'm sick with worry about how to make this all work. I just need someone I can trust to help me.
Ah.. I just found a few pics of the unit I have to renovate. They are marked "lindas unrenovated unit".
Hi,
This is def NOT worth $39,000.
It all cosmetics renos no structural renos at all.Unit overall – Good conditions, a paint job will solve most of the problems- Choose a light color to enhance the look and space.
Light fittings –
Kitchen – good condition, the titles aren’t broken…just need a new stove + new cabinets
Bedroom- are fine, paint jobi would:
1. Get painter to start with the painting and hole patching ( this would improve everything and the place is probably rent-able at this stage really)
2. At the same time; get the kitchen done
3. Lay the new carpets
4. Light fittings.But at the end of the day, if your tight with travel and personal problems, there not much you can do, beside egting agent or your self to organize another quotes for a full job.
Regards
MichaelMick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
Try local newspaper ( Local to the property of course
)If you do get quotes done, dont organize for 1-2…make them all come within close intervals.
Bargain a price + time frame and take it from there.Mick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
Michael you are absolutely right. Tarting it up cosmetically will work just as well for rental. One of the units in that building was rented out in november for $320 and they had only done a cosmetic job.
You've ignited a flicker of hope in the wilds of Bundoora. Maybe I CAN do this! I found a really competent handyman on womow who is in bentleigh. I'm going to ring him tomorrow and talk to him about the flat. He did a small job for me there so he knows what it looks like. He can probably do 90% of the work himself and he can get the licensed people in when needed. Whether he can carve out the time to do a big project is another matter. But I'll find out.
thanks
Linda just by looking at the photos, I truly don’t believe $39K is accurate at all. As the others have pointed out it is just a cosmetic renovation. One arm of our Company does do full renovations for clients. If we can help you out in any way please do send us a message
Holly
We just spent $7k on renovating a 3 bedroom house (the bathroom hasn’t been done though). We painted it ourselves, installed new kitchen doors/handles/sink/oven, re-carpeted throughout, new light fittings and other bits and pieces and tidied up the yards.
Cheers
Jame
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi LInda,
Did you eventually get a company (e.g. Property Boost ) to do the renovations for you? I have a 2 bed-room unit in Melbourne that i have to renovate. It was let out for 8 years and badly needs to be patched up. Would appreciate any advice you have.Thanks.
Regards
Female and also renovating!Hi Linda,
I have a small flat in Elwood Melbourne that needs renovation as well. As the previous member, did you end up finding a company or someone to do the job? Can u recommend anyone?Regards
LuisThe good folks at Home Stagers do precisely these sorts of things (they offer home staging but also renovation management). Give Dianna a shout and discuss your needs. She does a great job and is very strict with keeping the objective focussed on “ensuring the renovation increases the value of your property and/or rental return” http://www.homestagers.com.au/
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
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