Menu
Property

Renovating and the real costs

AT some point many homeowners decide to improve their property.  This can be to enhance their lifestyle, improve the value of the property or just simply because their family has grown.

Here are some tips to get you started.

If you improve your home at an amount much higher than the average property in your area there is a big chance it could become over captalised and harder to recoup your investment.

If you are working to a low budget consider re-painting or even landscaping.  Replacing doors and windows are all highly visible renovations and when done add greatly to the value of the property.

If you are looking at renovating the wet areas in your home like the kitchen, bathroom or laundry you probably need to have a budget of around $20,000.

Prices of new kitchens and bathrooms start at around $10,000 and generally add about $15,000 to the resale of a home.

Renovations over $20,000 could include extensions, a refurbishment throughout, or even adding a granny flat.

Extensions can add up to 50 per cent to the value of a property because of the sense of space they create.

The bottom line is you should spend enough to get the house looking good, to make it work for you and your lifestyle, and to hopefully sell it one day at a profit.

The better you understand your motivations, the easier it is to work with a lender or mortgage broker to discuss your refinance options.

 



How to add to your family in the sweetest way possible

How could you possibly say 'no' to that face?  Meet Bounty and nine other Gympie RSPCA orphans looking for homes.

Check out these adorable orphans needing your love at Gympie RSPCA

Man lucky to escape serious injury in Mary Valley rollover

A vehicle similar to this was involved in an accident last night. The Mitsubishi Fuso Canter FG 4x4.

Man lucky to escape serious injury in Mary Valley rollover

Why we have every right to be outraged at the Joyce affair

Deputy Prime Minister Barnaby Joyce during Question Time in the House of Representatives at Parliament House in Canberra, Thursday, February 15, 2018. (AAP Image/Mick Tsikas)

Letter lists the reasons we have to be upset

Local Partners

Couple’s big $2 million gamble

The family has loved "stripping back their life" and only travelling with the bare necessities. Picture: Instagram

Tracey and Rob were sick of Sydney life, so they sold their home

The millionaire real estate mogul who rents

Luis D Ortiz, the real estate genius who made millions in New York, then walked away, is on his way to Australia.

The millionaire real estate mogul who prefers to rent

Coffee king forks out $6.5m for Queensland home

Philip and Gianna Di Bella now have a new New Farm at home. Picture: Annette Dew.

Phillip Di Bella has forked out $6.5 million for a New Farm home

Rare look inside ghostly abandoned casino

Photojournalist Jakub Kyncl managed to get inside Romania’s creepy old Constanta Casino. Picture: Jakub Kyncl

The haunting remains of Romania’s grandest casino