hi

Discussion in 'Introductions' started by k8ie, 10th Jul, 2018.

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  1. k8ie

    k8ie New Member

    Joined:
    10th Jul, 2018
    Posts:
    1
    Location:
    the entrance
    Im looking at buying a 1950's house and its in need of some repairs. so hoping to get some help on things I should need to know what to look out for please?
     
  2. John_S

    John_S Mortgage Broker

    Joined:
    27th Mar, 2017
    Posts:
    133
    Location:
    Gold Coast
    I'd start by getting quotes from multiple builders so you are prepared for the renovation costs.

    Also find a well-reviewed building and pest inspector to avoid any unwanted surprises.

    Read up on how to avoid overcapitalizing on renovations.

    How to avoid overcapitalising on a reno
     
  3. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

    Joined:
    18th Jun, 2015
    Posts:
    6,685
    Location:
    Perth WA + Buderim Qld
    Welcome to the forums!

    First thing to be aware of is that it's likely full of asbestos which will make any reno's/repairs either expensive or dangerous, depending how much you like to live on the edge. ;) get a good building inspection and go through with them so you can learn.
     
  4. Eric Wu

    Eric Wu Well-Known Member

    Joined:
    8th Oct, 2016
    Posts:
    1,603
    Location:
    Australia
    hi @k8ie, welcome to PC

    which areas are you looking at? how good is the market (booming, flat, declining) ATM?

    reno / repairs could be expensive considering the age of the property.

    get a few quotes from reputable tradies,

    get a really good BP inspection before committing anything.