Removing Vinyl Cladding

Hi all,

I'm new here btw please be nice

I'm looking at a property in Western Sydney in a particular suburb where it's not really known for its fantastic crime rates.

Still I found a property that hasn't had any work done on for close to 40 years, and I reckon I could fetch it for about 100k below median for the area.

It needs a fair bit of work; fresh paint, rip up the carpet and put new ones in, new kitchen, a new bathroom, oh and I'd like to remove a couple of walls too to create some extra open space. Taking the walls out do mean I will be losing a room; but I plan to extend the house as we pay down the mortgage.

Biggest of all, my missus and I are not very keen on the vinyl cladding that's so common in the area, and maybe replace with brick, if it's at all feasible.

To do all of the above, do you think the extra equity I can look to generate is going to be worth the investment? From everyone's experience, what sort of budget do you think I should put down for some decent return on equity?

This will be a PPR, looking to hold for at least 10 years, but the extra equity would definitely be useful for future investments, now!

 

You might find that by the time you do the work you mention, that you will have spent $100,000 or more anyway - unless you can DIY.

Replacing the vinyl with brick would be pretty expensive.

 

I'm pretty sure in my old neighbourhood someone ended up rendering a clad house. They might have put some blue board down first.

Edit: see this link.
9 ways to fake a million-dollar look when renovating | Real Estate Talk | Your Trusted Voice For Property Investing. Anywhere, Anytime.

 

Generally not worth it.. you may find fibro (asbestos) under which will add another 5-6k to dispose.

As Gockie said, an option is to remove then install renderboard and render. But consider the overall house style and will the roof and windows and guttering all need updating too

 

Must be near @datto

Do you mean actually living in it yourself (PPOR) for 10yrs, or just a couple then turning it into an IP?

Looking to buy your first home is exciting, all these ideas for the future etc running through your head.

Warning!
When we purchased our first home we were excited, naive we had all these grand plans to do this and that to it, thought we'd be there for years to enjoy it.
Head down bum up we got into it, put in a pool, got a bobcat to dig out/truck out all the yard areas, trucks delivering top notch soil, mulch, turf, compacting it all in, established plants, trees, bush rock, shed, concrete, patio etc etc etc. This was just part of the outside, plus what we did inside.

Guess what, 15 months later with another baby we had enough equity to move into a nicer larger home in a better area. We turned our first home into a rental, emotional/frustrating seeing what it looked like 12 months later, which is common with many who rent out a place they considered their "home".

So, perhaps, if it's your first home, can get it for a bargain (+ first home grant etc), confident with diy, rather than thinking long term PPOR, perhaps just get in there, treat it as a place to stay for a bit (no rent), whilst tidying it up, a stepping stone to get into the market, get some equity to move on to something else, turning this into a rental, or perhaps flip it.

Leave want/desire out of it, it costs to much money, its just a place to crash whilst tidying it up, keep reno$ very simple/basic, only doing what's required to make it tidy for the type of tenant/income for the area.

In the end the values in the land, the house is just a bonus to hopefully generate income to help you pay it down, people are only going to pay x amount in rent for it depending location etc, regardless what the cladding for example looks like, which may come up just as suitable with a good wash with sugar soap, or a fresh coat of paint, in the end the tenants kids will prob take to it with a couple of cans of spray paint anyway, while Datto does burnouts out the front.

Dream bigger than this place as a PPOR, good luck

 

Whoo, lets not beat about the bush here. This house is in the Druitt, right?. Welcome to he neighbourhood!

If you hold the property for 10 years, not only will you be converted to boganism but, as an added bonus, your property will probably double in value. And that's without picking up a hammer (and throwing it at a neighbour).

The reno you described, not including the extension, will probably cost around 50K. I'd leave the house as is and just enjoy the 'hood.

 

I am confused, what is a fantastic crime rate ? and does it depend on your perspective ?

Anyway, oddly, I see many fibro places and wish they had of already vinyl clad and changed timber windows to Al, I think Vinyl is fine, Hardie plank is ok too but needs paint (I hate paint, therefore like vinyl clad).

Why do an expensive reno so you can borrow against equity, unless you can do it very cheap and get say triple money back, but I doubt that as you will de value by removing a room.

Just get it at your cheap price and little to nothing, and hang out with Datto on Fri and Sat nights, just make sure you know how to walk home even with a heavy buzz and blurred vision, or have warm cloths for when you pass out on someones front dirt patch among all the Falcon or Commodore parts

 

As mentioned above, I recommend moving in and taking on manageable chunks one at a time. See how you feel about the cladding once you've made a few alterations. From what I've heard, it provides great insulation. Not sure whether that's true or false - maybe you can let us know a few months down the track.
Tidy up the garden and get the lawn healthy, paint whatever you can. Makes a huge difference.

 

Hmm yeah, definitely didn't think about the style of the roofing, as it's galvanised ATM, which will need to have tiles put on.

Mate seen much worse in Logan, where I'm originally from. lol much more likely I'll be your Habibi

Well, re crime rates I've heard stories which seem to be backed up by statistics
Anywho, this will the first place to move in with my missus, after our wedding. Whether I like it or not, investment is a must lol. Just thinkin the extra equity might get me something useful in Logan lol

 

That's not what Dave meant, he was referring to the flow of colour choices between all surfaces, design flow etc .

Replacing a gal roof for tiles (or vice-versa) is a Huge cost I'd avoid.
Perhaps get some quotes for all these ideas before going ahead with the purchase. Bargains are usually bargains for a reason.

 

By the sound of things, tiles will be too heavy for the house anyway - cause too many problems.
It can be difficult to do, but it's important not to get caught up in imaginary status symbols. When it comes to houses, there are a lot of them. You can live happily without granite bench tops, for example. In reality, people want a house that works, looks pretty and is easy to clean. Hang onto that realism that guided you to buy the house in the first place - that's what puts you ahead.

 

You dont say what the walls are at present if they are ready for vinyl etc - Fibro ?
Council will want a DA for the internal changes...Knocking down walls needs approval especially if there is fibro present. An asbestos contractor needs involvement in a house that vintage. Even the paint will include lead and need some care.
Sounds exy. What are the electricals like ?

And....You cant polish a turd. Arguably in some fibro areas it wont do that much to value v's cost. Cherie Barbers (and others) guides on renos may help add lower cost cosmetic value rather than major structural and facade....eg major landscape (IMO a bobcat hire is a great ROI) and exterior works, cladding, kitchen etc....