Where to start with full renovation and caveats?

I’m thinking of buying a corner block in a very good location that I can’t ignore, as my new Primary residence but the house is unlivable and need a full renovation through out. I think only those bricks are still good in that house..

Where to start the renovation and what to watch out? A friend who renovate his own properties suggest a builder will always go over budget, and the builder need to have a cut in the price, better be your own project manager and find the tradies to save money. But I don’t really any expertise in building and renovation (at least for now) and pretty busy with work.

Given -
I have very limited knowledge about renovation - the only renovation have done in my life is ask a tradie to add a toilet in the laundry
- I would like to add an en-suite in one of the big room
- I don’t have expensive taste but value workmanship and want things to be durable
- the plan is in about 10 years or in due course, I will knock this house down to build two dwellings and capitalise this corner block potential
- prefer moving within 6 months, as I like the area a lot.

Should I go through a builder or ask my friend who renovate his own IPs to help me (at some cost of course)
Any advice on the renovation would be highly appreciated!

 

Unless it's truely unlivable I would be hesitant to put a lot of money into a renovation only to knock it down in 10 years. If possible, maybe do as little as you need to in order to make it livable. The downside is you'll have to put up with it for the time you live there.

With regards to builder, if you have a friend who knows what they're doing and is happy to project manage for you/with you for a modest fee, you could save a lot of money rather than going though a building company who ( in Sydney) charge a crazy amount. And in current markets, my guess is they'll charge even more.

Ive done quite a few renovations and I've found doing it without a building company generally saves me at least 25% approx. You can also source all the materials yourself which will further save money because you can look for sales, buy value brands which are cheaper but have the same look etc. So you'll probably end up with 'more for less money' than you'll likely get through a builder.

 

THIS!!

Define unlivable. What is so very bad about this property? If it's that bad that you wish to knock it over in 10 years why on earth would you spend a lot of money on it now?

 

If you start with that attitude you will achieve your goal, being overbudget and forming an unrealistic view of builders.

You have no plan, no advice and no skills at this stage - that is not the place to start.

You need all three to be successful.

• Consult a designer - work out a plan.
• Determine a budget
• Call quotes
• Revise your budget/plans/expectations
• Revise your quotes
• Let the contract

 

Sure, diy is cheaper, but only if you know how to do it.

do you?

 

Have you considered new rebuild of a house (project builder) and then later adding a GF ?

 

The condition is so bad that the real estate agent could not bother with putting up a single picture. Just a picture showing the location and landsize.
Absolutely inhabitable in fact the house was empty for a year...

If I had enough borrowing capacity I would build two dwellings now.

 

That still does not give enough information. I've seen plenty of properties where there were no photos of the home. In fact one sold not far from me just recently & while some would say it's uninhabitable, all it really needs is a good clean up & maybe some holes patched.

 

Assuming the condition is as you indicate - totally unlivable. Çould you really live with doing a full reno likely to cost more than 150-200k , only to literally burn that money 10 years later?

I wouldn't be able to bring myself to it.

 

Need to also consider what is unlivable to some, might be fine for someone else. I've done full reno's that have cost around $6k. Mind you, Hubby & I did everything ourselves & it really only needed cleaning, tidying, painting & carpets.

 

Some photos would be nice to see the condition. Cos your right, what's unlivable to one person is getby(able) with a clean to another.

I suspect your 6k renos would likely cost a lot more if you're paying for the labour and management. You and hubby have skills savin you a motza over the years!

 

Well, yes, but with that kind of reno, you don't need a lot of skills, just elbow grease and a filter so you can cope with the endless cockroaches & other lovely things at play.

Plus, they're not all $6k reno's. We totally rebuilt one house about 15 years ago & spent a whopping $17k. I haven't done the final figures of the last one we did. I think it's the most we've spent on a reno, so maybe around $20k, but you do need to realise that this is the wild west & I don't like to overcapitalise, so there's no luxury items included.

 

Lol I can't imagine a full house 20k reno...... No frameless glass balustrade stairs.....

 

Certainly NOT! Not in 2770!

Full reno comprised gyprocking half the house, removing tonnes of garbage, vastly chopping back the trees, painting the entire house, inside & out, removing 2 walls, new kitchen (there's a place called 'Kitchens under $2k), move laundry door, re-tile bathroom, paint bath, floating floors kitchen/dining/lounge/hall. Carpet to bedrooms.

Most of he work done by us. Flooring on special at Bunnings (end of line) cost $450. Carpet around $2k, tiles free (got a pallet off Facebook). Too easy!

 

Yes - I have done a full refurb (overdue) to double the return and know that I will demo, rebuild, subdivide for double rent again in a few years.

 

How much did you spend? Did you factor that cost into the feasibility?

 

@Sackie - Close to $100k (kitchen, bathrooms, damp course, int/ext paint, drainage, roof, lintels/rebuild gable, floor polishing, window replacement/repairs, a/c) - minor works.

Most of the costs have a <10 year life - building may get another 15-50 years out of it (that would bring it closer to 200 yrs old)

 

We're currently reno'ing PPOR, prior to putting tenants in. If we decide to come home to Sydney, we'll be demolishing it & building new, but we won't be spending a lot. Just put a new kitchen it, next flooring & paint. Flooring & paint don't cost much & should we come home, will take kitchen prior to demolish & plonk in another property.

 

I couldn't bring myself to spend 100k only to demo in a few years.... unless it was factored into a feaso..

Just couldn't do it..

 

You & me the same.