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  • Profile photo of johnycitizenjohnycitizen
    Member
    @johnycitizen
    Join Date: 2010
    Post Count: 8

    Hi all

    Just wondering if anybody uses a specific site to find ideas and inspirations when it comes to renovating a particular type of property. At the moment i'm looking at a 1950s weatherboard. Also keen on ideas for 2 bedroom units. Not too keen on spending hours looking and hoping on realestate.
    Looking in particular at paint, flooring and landscape.

    Thanks heaps

    Profile photo of fredo_4305fredo_4305
    Participant
    @fredo_4305
    Join Date: 2009
    Post Count: 336

    Do a google image search, go for a drive around the area and see what others have done.

    Profile photo of DubstepDubstep
    Participant
    @dubstep
    Join Date: 2012
    Post Count: 395

    Hi Johnycitizen,

    What is your purpose for the reno ?

    Rent out, sell or PPOR ?

     

    Profile photo of Jacqui MiddletonJacqui Middleton
    Participant
    @jacm
    Join Date: 2009
    Post Count: 2,539

    Hi johny

    Dubstep has asked a very important question.  The manner in which you should renovate for renting out the property would be different from if you were to sell it.

    If you are planning to rent it out, you want to make the place presentable and freshlooking, but not too personal in style.  For instance, white walls and ceiling (in a wash & wear paint), polished chrome fittings, and dark-charcoal carpet.  You would want the anti-stain carpet, but do upgrade on the underlay.  Makes a big difference to liveability and reduction of coldness under-foot in winter.  Be clear in explaining to your carpet people that it is a rental and ask them to show you which carpets offer durability and anti-stain, and ask them to explain WHY they are durable and anti-stain.  As I said keep the walls and ceiling plain ie white.  The tenant will add their own personality to the place with pictures and knick-knacks.  If you go and paint a feature wall in a dominant colour it will be hard for people to imagine themselves in the place if the colour you chose is not to their taste.  Also darker colours on the walls and ceilings make a place look smaller.  I like dark floor coverings as I figure even if the tenants spills red wine on the carpet, you won't be able to tell.

    If you are renovating to sell, well that is a different story.  You'd probably opt for a different type of carpet for a starters.  You could consider the lighter coloured carpets as an owner-occupier would be intending to look after the place better than a tenant would, and of course lighter makes the place seem bigger.  If you are a floorboards person, you might do Bunnings DIY floating floors for a rental, but proper floorboards for a reno and sell (if the demographic demands it).

    Go and look at a heap of properties in the area that are targeted at the same market that you are pitching for, see what is on offer, and observe how quickly certain types of properties get snapped up while others linger unsold.  Talk to agents about what buyers want.  Then you'll know confidently what to do.  What is a suitable strategy in one town may not apply in another, so we can only give you ideas.  You'll still have to investigate your town for yourself and be certain what your target market wants to buy.

    Jacqui Middleton | Middleton Buyers Advocates
    http://www.middletonbuyersadvocates.com.au
    Email Me | Phone Me

    VIC Buyers' Agents for investors, home buyers & SMSFs.

    Profile photo of Kristin Simondson PBREKristin Simondson PBRE
    Member
    @kristin-simondson-pbre
    Join Date: 2012
    Post Count: 86

    Agree with the above… JacM has hit the nail on the head in terms of renovating for rentals.

    In terms of finding out what the market responds well to, ask multiple agents. Once you get the same pointers from different agents, you'll know what works. It's also good to ask if they have examples of renovated properties they've sold/leased quickly or for a record price in recent times.

    If the property is in Melbourne or inner surrounds, please feel free to let me know and I can give you the first set of ideas to compare to other agents' tips.

    Profile photo of mattstamattsta
    Participant
    @mattsta
    Join Date: 2011
    Post Count: 604

    so johny, what is your ultimate outcome with the property???
    sell it or rent it out?

Viewing 6 posts - 1 through 6 (of 6 total)

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