All Topics / Value Adding / Buying a house for cosmetic renovation

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  • Profile photo of jcso99jcso99
    Join Date: 2005
    Post Count: 95

    Dear all, I am looking at a reno deal where the property backs onto trainline in Melbourne’s SE region. The house needs some cosmetic reno. After initial DD, there are renovated house (with similar internal configuration) within 500 meters which is in quieter street and it was sold for over $1.2M. If I were to renovate the deal, should I assume 5% or 10% off the recent sales comparable because it backs onto trainline? Would love to hear your thoughts?




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