How far does 100K go in a in a renovation

I have a 1950s home and it's a horrible design and I'm researching different strategies to gain the biggest net increase in property value.

I'm concerned about the ceiling price.

Value now is 280-300K, ceiling is 450-460K for the area and size of block.

The idea is to

• Remove load bearing wall to create open space living area with new kitchen built around the existing kitchen.
• New Downlighting in rooms/Skylights
  
• Sliding door leads outside lounge into alfresco area
• Single garage/carport from secondary street
• reconfiguring bedrooms to allow for better use of space/storage
• Possible additions to allow for a 4th bedroom. I'm inclined to think this is too ambitious.
• Roof restoration
• Paint job, and other budget aesthetics.
• Driveway conreted
• Better overall presentation

The left side of the house has a 3m easement along the driveway so I can't build too far that way. The entry to the right alfresco area will open up the porch area for potential addition.

Question is 100K enough and is it worth it?

 

Renovation 101 - never spend over 10% of property value in renovations

 

I would focus on doing the kitchen (maybe you can just do a cut out rather than removing the load bearing wall?), bathroom (including adding a toilet), painting and light fittings. It’s pretty easy for a buyer to envision a concrete driveway and carport so would not do these as they are quite expensive and can easily be added by someone later.

If the porch area over looks a nice garden then perhaps better access from the kitchen with a glass door or something.

Idea for bathroom attached.

 

Woah, on the info provided I don't think I'd spend more than $20k, and only on the stuff that gets me 2 or 3 times return on expenditure.

 

I put it up for sale, but reconsidering options such as increasing value to get a better price, or just renting the thing out.

I've had a whole heap of first home buyers say it's too much work which does my head in given how much people complain about needing to get into the market. IT's entry level price, and in better condition than when I bought it in the first place with a modern bathroom and kitchen, repainted on the interior.

It looks a little rough around the edges on the outside, but the whole idea for me was to put as little money into it as possible.

 

From what I have noticed neat and tidy renovated properties sell quickly and at a premium over in tidied up properties (in Perth)

 

It cost me $100k in 2013 to raise my house and add 4 bedrooms, a kitchen and a bathroom... Got to love DIY savings.

 

For that age range-then there will be asbestos within this property and just the removal by professionals can be very costly for a start..
Then add on the driveway-roof and the structural internal refit and the costings if you employ tradesperson for all the different trades to complete and the turn around time's in months and loss of rent -
Then 100 k might not be enough..

If this property is external lined from the ceilings down with asbestos then that could be 20k to strip out and reset the sheets.
Then add on the roof and driveway and what you intend to complete inside from that plan then 100k might not be enough once you add on Labour costing ..

 

100k most likely not enough to do all that. And most likely over capitalising. Compare what similar homes to you in better condition are selling for. Then determine which parts are better and only do the work on high visual impact items. Once you over capitalise, it'll be even harder to sell and make a profit.

 

The only asbestos is panels under the roof on the edge of the house. It's not a fibro.

 

what if I bought the worst house in the a prime suburb, is this rule flexible?

 

The the value is in the land anyway. It's a small house that more likely than not will be a knock down rebuild later. The increase isn't going to come from knocking down a wall.

 

I'm just finding it hard to imagine holding to 100k on a 900k house in Unley SA for example

 

Firefly99's plans with the BIRs looks good. However, if there's asbestos then the cost goes up a lot. If the kitchen wall is removed then there's a potential for cooking spatter, steam, hot water and the like to get on the living room floor, walls and ceiling. I'm not persuaded that anything more than a superficial reno is indicated.

 

The dimensions/scale look a little off. The lounge room is the same width as the kitchen but only 3.25 deep? Should be around 5 instead?

 

If I was going to spend money on it I'd put a robe and ensuite from Bed 2 in the porch and make a master ensuite. Then pretty much what @Firefly99 drew with a line of cabinets in the kitchen on the bathroom wall and then more cabinets on laundry wall (remove window) and an island bench

 

I saw that and took the dimensions as approximate. A more accurate plan would be nice. Also, showing north and giving locations by compass point would be good, such as east side. This is unambiguous. The meaning of SG in the box is unclear.

 

SG Stargate???

 

It's not a Stargate, it's a single garage

 

Ah, now I see it. The term I have seen more often is lock-up garage, LUG. Maybe it should be a SLUG. Of course there could be a single garage for six cars. No joke - I saw a house that had a garage with room for 10 cars. This is bigger than a former residence of mine.