Renovate or walk away? 150k budget.

G'day peeps, was out looking for a new place and found a house we like. Love the land, the bones of the house and layout are good but the internals suck and need lots of cash to bring it up to standards. But not sure it's worth it yet, as similar propertys are selling for a little more all renovated and ready to enjoy. Currently they are asking about 100k way to much for it, and they will never get it. But if I can negotiate it down as I reckon I can, and complete the works under 150k then we have a winner. Otherwise I'll move on.

So any idea or worst case ruff guesstimates for the following, looking for a med-high build quality Reno.

New kitchen including appliances......20k?
Down lights throughout. Would it need a rewire as well since built in 1980's, cost?

Full Bathroom Reno, 2 bathrooms, would like a walk in shower.....10k each?, or should I price in more, say 15k? No pics of bathroom, 1980's, needs new shower and everything.

Rip up all carpets and replace with floorboards?

Replace kitchen floor?

Central heating or heating to back rooms as currently only a fireplace and kitchen area has heating.

Needs a verandah or pergola extension to the rear of the house where people can sit and chill, 25k?

Needs a garage, thinking a American barn style, 4-6 car garage bout 15k plus 10k concrete and construct, 25k total? Power?

Knock out the wall billiard room photo, make it open and look clean?

Might need new water tanks, fire sprinkler system as its bush and off the grid, need to factor in new septic tanks just in case too.

Appreciate any feedback and advice, I know it's hard to price something up through a photo, but just trying to ruff it, so we can make a decision if it's even worth it.

Thanks.

 

These are some houses that have recently sold, which I'm comparing too once renos are factored in.

20 Syndicate Road, Mount Macedon, Vic 3441 - View Sold History & Research Property Values - realestate.com.au

https://www.realestate.com.au/sold/....au/sold/property-house-vic-macedon-124010190

https://www.realestate.com.au/sold/....au/sold/property-house-vic-woodend-124254738

This sold in a day. Didn't even make it there.

https://www.realestate.com.au/sold/...ld/property-house-vic-woodend+north-124304022

Also sold straight away, wanted this one.

https://www.realestate.com.au/sold/....au/sold/property-house-vic-woodend-123944802

 

I like it! I would only worry about reno later... its not urgent imo. But... my thought is... is it really a smart idea to post so much about this property on here?

 

I could post it on a car forum but they wouldn't appreciate it or have any idea. Is this not a property forum?

 

What if someone sees it and decides: "hey, my friend/I/sister/brother etc is exactly looking for a property like this...."
I'd get it under cooling off at least before revealing any interest!

 

Good point, I'm ok if someone else buys it, I just don't won't to overpay. Lots more will come up. I'm just lost when it comes to any type of renovating and was hoping some Reno kings/queens might have some feedback.

 

There is a price guide on the archicentre website.

 

Realistically, this is not the type of property people will just snap up. It is overpriced and needs a serious reno. Anyone looking in the area would already likely know about it. I don't think @Barny has taken a huge risk by posting it

 

Possibly.. I would rather not take the chance though! Number of registered forum users might be x, but number of PC readers = y... you never know who is reading on the forum. I lurked on Somersoft for years before actually signing up and getting an account.

 

Ps. If it was me... heck, I love the look of it... and for a price of under a mill... I'm from Sydney.... I think to myself... hmm that's cheap...

 

Well I'm from Melbourne and I think it's a rip off
Lots of affordable housing are still around, but not for long.
And I still don't want to overpay.

 

@Barny where is the vomit emoticon? That is all my pet hates in one room! Arches, dark feature bricks, dark slate and wood. Tje dark slate floors are horrid but if you lighten the walls you might get away with them for a while. Best thing for the walls is float and set. I am not sure if too many plasterers would do that in Victoria. You blokes mainly do gyprock? Float and set is very common in Perth. It's not really a DIY thing though. Ask me how I know

Anyway, with lighter walls the inside might not seem so dark. At some point you will probably want to get rid of the slate though

 

Lol the photos I posted look good, if only you seen the bathrooms. My wife loves the slate flooring, I'm not a fan.
Yes was thinking gyprock some of the walls, and leave some exposed brick throughout.
The house is ok- ish with lots of work, the location is good, the land is awesome.

 

I like the house. It just needs a decent reno. As long as you can get it for the right price

 

Paint it all white. Done.

 

That sounds not a bad idea, full Reno for 500 in paint