Another reno..... a slow one

Discussion in 'Renovation & Home Improvement' started by Ardi, 28th Mar, 2016.

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  1. Ardi

    Ardi Well-Known Member

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    Almost finished!!!

    All we have to do now is a couple of electrical fittings and get some lino down in the kitchen and sunroom.

    Pictures to follow........
     

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    Ardi, 4th May, 2016
    #21
    WattleIdo, Sackie and bob shovel like this.
  2. Ardi

    Ardi Well-Known Member

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    More...
     

    Attached Files:

    Ardi, 4th May, 2016
    #22
    WattleIdo, Sackie and bob shovel like this.
  3. Ardi

    Ardi Well-Known Member

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    Rental appraisal has come in at $330 to $340 per week after the renovation. Hopefully we have built a little equity as well.
    Will post the total renovation costs when i get a total, but is around a 6.6% return on the initial purchase price.
     
    Ardi, 4th May, 2016
    #23
  4. Azazel

    Azazel Well-Known Member

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    Well done, looks like a big job.
    Did you do it all yourself?
     
    Azazel, 4th May, 2016
    #24
  5. Ardi

    Ardi Well-Known Member

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    Yes, the quick coat of paint kind of went overboard.
    Got a sparky to do electrical, spotlight to do blinds and had a bit of help from the stepfather for the kitchen and bits and pieces.

    I guess you could say no trades hired for it besides the sparky.
     
    Ardi, 4th May, 2016
    #25
  6. bob shovel

    bob shovel Well-Known Member

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    Great work @Ardi huge improvement!

    How did the numbers come back?
     
    bob shovel, 23rd May, 2016
    #26
  7. Ardi

    Ardi Well-Known Member

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    I'm overseas at the moment so have not had the chance to add up the total costs. Will have it sorted in a couple of weeks.
    Tenant moved in two weeks earlier than expected @ $340 per week, so fairly happy with that. Unfortunately the bank val has come in lower then expected @ $285k. Was expecting a little over 300k. Never mind.
     
    Ardi, 23rd May, 2016
    #27
  8. Azazel

    Azazel Well-Known Member

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    Good to hear you got a tenant in there early.
    Disappointing valuation, but who was it with?
     
    Azazel, 23rd May, 2016
    #28
  9. Ardi

    Ardi Well-Known Member

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    Through broker using NAB
     
    Ardi, 26th May, 2016
    #29
  10. Azazel

    Azazel Well-Known Member

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    Thanks for letting us know.
     
    Azazel, 31st May, 2016
    #30
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