Perth Mindarie - Reno & sell

Discussion in 'Renovation & Home Improvement' started by DoubleD, 28th May, 2018.

Join Australia's most dynamic and respected property investment community
Page 5 of 5
  1. DoubleD

    DoubleD Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    231
    Location:
    Perth
    Been a very busy last few weeks finally were ready for market. Short Video of the project, with before and after pics to come.
     
    DoubleD, 13th Aug, 2018
    #81
    Ross Forrester, Empire, Propin and 2 others like this.
  2. Westminster

    Westminster Tigress at Tiger Developments Business Member

    Joined:
    3rd Jun, 2015
    Posts:
    11,357
    Location:
    Perth
    Looks so much lighter and brighter.

    Did I spy a split air con looking a bit aged and yellow? I'm sure there was someone on here who painted their's and it came up bright white and new looking again.

    I hope all the effort pays off with a quick sale and $$
     
    Westminster, 13th Aug, 2018
    #82
    Perthguy likes this.
  3. Bombers86

    Bombers86 Well-Known Member

    Joined:
    19th Oct, 2015
    Posts:
    93
    Location:
    VIC
    Looks great! Congratulations. Can I ask who you get to do your staging for you in Perth? Or is that all your own furniture?

    Any other members who know good staging companies in Perth please let me know! Cheers :)
     
    Bombers86, 13th Aug, 2018
    #83
  4. DoubleD

    DoubleD Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    231
    Location:
    Perth
    Has anyone painted a Split System Air Con?
    Still got time before the first home open will give it a go on my old broken units at home
     
    DoubleD, 13th Aug, 2018
    #84
    Westminster likes this.
  5. DoubleD

    DoubleD Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    231
    Location:
    Perth
    D4DCD936-EFFA-4910-A2C1-508952F3EBF0.png
     
    DoubleD, 13th Aug, 2018
    #85
  6. Perthguy

    Perthguy Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    11,767
    Location:
    Perth
    Perthguy, 14th Aug, 2018
    #86
  7. DoubleD

    DoubleD Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    231
    Location:
    Perth
    Anybody else notice realestate.com have removed their property hit counter :( no more keeping track on hits ??
     
    DoubleD, 15th Aug, 2018
    #87
  8. charttv

    charttv Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    446
    Location:
    Perth
    yep. also, now you've got me thinking of
     
    charttv, 16th Aug, 2018
    #88
    craigc and Skuttles like this.
  9. Skuttles

    Skuttles Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    133
    Location:
    Perth WA
    @DoubleD mind letting us know FHSA costs?

    May be looking at some staging in the near future.
     
    Skuttles, 16th Aug, 2018
    #89
  10. DoubleD

    DoubleD Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    231
    Location:
    Perth
    Between $3000-$4000 mine was a 4x2 with four living areas and an outside for $4000, 5 weeks hire.
     
    DoubleD, 16th Aug, 2018
    #90
    Propin and Skuttles like this.
  11. DoubleD

    DoubleD Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    231
    Location:
    Perth
    DoubleD, 8th Sep, 2018
    #91
    Sackie, Perthguy, Empire and 1 other person like this.
  12. DoubleD

    DoubleD Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    231
    Location:
    Perth
    Sold early November after 83 days on market.

    Kept a very close eye on market during comparable home opens and had to adjust the asking price down from $669,000 to $649,000 final sale price $640,000.

    Final Numbers :
    Before Reno : $565,000 (estimate)
    Reno : $38,642
    Stage : $4350
    Sale : $640,000
    Potential gain : $32,008

    Bring on the next Reno :)
     
    DoubleD, 20th Feb, 2019
    #92
    Propin, Perthguy, Westminster and 2 others like this.
  13. Brady

    Brady Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,570
    Location:
    Adelaide, SA
    Happy days nearly bang on the $2 extra for each $1 reno spent.
     
    Brady, 20th Feb, 2019
    #93
  14. Westminster

    Westminster Tigress at Tiger Developments Business Member

    Joined:
    3rd Jun, 2015
    Posts:
    11,357
    Location:
    Perth
    Good work
     
    Westminster, 20th Feb, 2019
    #94
  15. Perthguy

    Perthguy Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    11,767
    Location:
    Perth
    This is a good result and on top of the higher price there is the consideration of saleability of the property. I have seen unrenovated properties sit on the market for extended periods unless the price has been reduced. There is one in my area now that has been on the market since before August last year.

    Buyers pay attention to price, presentation and location. When selling, you can't control location but you have controlled price and presentation. I reckon you sold faster with a well presented property than you would have if you sold the same house unrenovated.
     
    Perthguy, 20th Feb, 2019
    #95
    Sackie and Ross Forrester like this.
  16. radioactive

    radioactive Well-Known Member

    Joined:
    3rd Mar, 2018
    Posts:
    286
    Location:
    Perth
    holding costs?
     
    radioactive, 26th Feb, 2019
    #96
  17. DoubleD

    DoubleD Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    231
    Location:
    Perth
    Thanks for pointing this out $5,457 holding cost :
    83 days
    Mortgage $600,000 after reno @4% = $24,000 year = $65.75day = $5,457 for 83 days

    The house needed to be sold for other reasons.
    In that current market, renovated houses were in higher demand so made the decision to renovate a lot easier.
     
    DoubleD, 26th Feb, 2019
    #97
    Perthguy and Brady like this.
Page 5 of 5