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First time renovator! Progress images (continued from SOMERSOFT..)

Discussion in 'Renovation & Home Improvement' started by dan_89, 14th Apr, 2016.

  1. dan_89

    dan_89 Well-Known Member

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    Hi all,

    Back in Somersoft days I started a thread to show progress of my first renovation attempt outlining my plans, progress images, costs and figures I was aiming to achieve post renovation.

    After just over a year I have now completed (95% complete anyway.. there's always something that needs doing!).

    For those interested I have attached the original link below and will also post some images showing the transformation.

    First time renovator! Progress images - Somersoft Property Investment Forums

    PRE-RENOVATION NOTES:
    Built:
    1981
    Location: South Eastern Suburbs, Melb.
    Size: 855sqm block
    Type: Brick Veneer - 3 Bed, 2 Bath, 1-2 car carport.
    Status when purchased: Tenanted for 12 years to same tenants - privately managed by lazy owner..
    Condition: Horrible. (without going into detail..)
    Purchase Price: $525,000

    Plans: Extensively renovate over 6-8 month period to create modernized/liveable home as well as keeping it rental friendly for future IP. Set on decent sized block with plans to subdivide and build townhouse on rear later on. Will be having the home revalued later in the year. Hoping to push to value to around the $620-$640k mark - hopefully!

    Budget: Approx. $40k (majority of works I'm planning to undertake myself). This will include kitchen, both bathrooms, paint throughout, sand/polish boards, roof restoration, electrical upgrades (old man is a sparky [​IMG]), build a deck out back etc. etc.

    POST RENOVATION UPDATE:
    Renovation costs:
    $45-48k total spent

    Bank Valuation (March 2016): $700,000 :D

    The renovation process has been a considerable challenge while working full time but overall extremely rewarding seeing the transformation. I have learnt more than I ever thought I would and turned the home into a bright, live-able and 'homely' space. There were times that I wanted to give up and countless profanities over the duration but overall I am proud of what has been achieved and thankfully the valuation has come back with a positive figure.

    My plans are to eventually rent the property out and purchase another in the near future after I work around my serviceability hurdle.. The renovation bug has set in and i'm ready for the next project.

    Hopefully this goes to show that not all of us Gen-Y stick to the usual stereotypes often discussed on the forums :).

    Couple of BEFORE + AFTER Images below!
     

    Attached Files:

    Last edited: 14th Apr, 2016
    Brady, Perthguy, House and 1 other person like this.
  2. dan_89

    dan_89 Well-Known Member

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    Apologies, Unfortunately I have uploaded images wrong. Will try post a few completion images below.
     

    Attached Files:

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  3. Tony Fleming

    Tony Fleming Well-Known Member Business Member

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    Looks awesome! Good work.
     
  4. bob shovel

    bob shovel Well-Known Member

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    Dan the man! Great job mate!
    But weren't you putting a bmx track out the back too??
     
  5. dan_89

    dan_89 Well-Known Member

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    A few more. Think I've given up after my failed attempt at uploading the images in original post.. :mad:
     

    Attached Files:

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  6. dan_89

    dan_89 Well-Known Member

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    Landscaping in progress.. and a few others. That'll do for now.

    We ended getting 4 chickens instead! But the BMX track is still to come.. ;)
     

    Attached Files:

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  7. Tim86

    Tim86 Well-Known Member

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    Lazy bloody gen y spending all your time uploading images to the internet. Get back to work :p

    Mate looks awesome. Thats a heck of a lot of work you did. Good finish too.
     
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  8. Jerry O

    Jerry O Well-Known Member Premium Member

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    Excellent job Dan! Nice colour scheme.
     
  9. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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  10. Mike_D

    Mike_D Member

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    Awesome job mate!
     
  11. BKRinvesting

    BKRinvesting Well-Known Member

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    Brilliant work.
    As I'm coming up to the end of stage one of my current Reno I appreciate the work that's gone into this.
    How'd you keep the costs down?
     
  12. Perthguy

    Perthguy Well-Known Member

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    Fantastic work @dan_89. Looks terrific! I am in the middle of a reno in Perth. I forgot hpw much work it is :p

    For the reval, did you have to ask that the valuer came to the house to see what has been done?
     
  13. dan_89

    dan_89 Well-Known Member

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    Thanks @Perthguy! It's definitely a lot of work, especially while working full time. But there is no better feeling or sense of achievement than moving into (or renting out with a healthier yield ) a freshly renovated home knowing how much work has gone into it!

    The valuation was ordered through my broker and yes they did a full walk through valuation.
     
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  14. dan_89

    dan_89 Well-Known Member

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    Thanks @BKRinvesting! I kept the costs down by doing as much of the work as I could and sourcing materials etc from gumtree, eBay, builders seconds sales where ever I could. I also had 10 or so months to plan for the reno so had plenty of time to shop around and learn about the things I had no idea how to do. A great and rewardin learning curve with the added bonus of some equity as an end result!
     
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  15. BKRinvesting

    BKRinvesting Well-Known Member

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    Great result!
    100% agree regarding the satisfaction, I'm looking forward to feeling that soon. It's been a long slog.
     
  16. Brady

    Brady Well-Known Member

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    Awesome stuff!

    Even with purchase costs, holding costs during renovation you have made a great equity gain in a short period of time.

    Hats off for getting in there and giving it a good go.

    Great looking finish
     
  17. Perthguy

    Perthguy Well-Known Member

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    Thank you. That is really useful.
     
  18. Tranquilo

    Tranquilo Well-Known Member Premium Member

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    Wow! looks like a different house and congrats on the new value.
     
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  19. Tinaandalex

    Tinaandalex Well-Known Member

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    It looks awesome, great work Dan.
    Where did you get the kitchen from?

    regards
    Tina
     
  20. Azazel

    Azazel Well-Known Member

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    Yeah, it's pretty nice.
    Fridge looks quite snug, will that be staying there?