+ Reply to Thread
Results 1 to 8 of 8
  1. #1
    Join Date
    Feb 2012
    Posts
    216
    Thanks
    23
    Thanked
    23
    Reviews
    0

    Default Renovators with experience - advice needed

    DH and I have been trying to decide what to do with our 1950's post war home on 597m2 block. We bought it in original condition but we:

    - ripped out the dusty lace curtains and crappy venetians,
    - ripped up the awful green shagpile carpet hiding beautiful jarrah 150mm wide boards and polished them up,
    - repainted throughout except kitchen and bathroom and yet to do trims,
    - put in a few new light fittings and moved a couple too,
    - ripped out some awful plants in the front and back gardens.

    We have had it valued and to sell it as is we will only get between $30 and $60K more than we bought it for (the market is only just coming back now). We were tossing up selling and buying a block and building but there are no guarantees what buyers are going to pay and we would need a good deposit to ensure we don't pay LMI on the next loan.

    So we are contemplating now:
    - renovating and either staying put for 5-10 years, or
    - using the equity to hang onto it as a rental and buy, or
    - selling it at the higher value after renovation and then buying elsewhere.

    Many similar places in our area are not overly spruced up but are going for about $100-150K more than ours was valued at. From what I can tell things they have done include:

    - remove asbestos and replace with weatherboards/plasterboard where applicable
    - new windows or paint and refurbish existing
    - new kitchen
    - new or updated bathroom
    - outdoor patio and deck
    - neat gardens
    - basic window furnishings inside
    - nice exterior of the subfloor (ie slats all around to conceal under house stumps)
    - lock up garage
    - R/C aircon or split system
    - BIR's

    Not all of them have done everything mind you and some have not done a top quality job either. But these places seem to be selling like hot cakes (many are under offer or sold).

    As we are probably leaning more towards staying here we could also do a bit of a remodel within the existing layout to make the house more energy efficient, such as the attached (top one is current layout, bottom one is remodel layout). The dotted lines on the remodel plan are walls that if not load bearing could be removed or possibly just opened up (with beam or bulkhead to take load). Any suggestions on the remodel layout would be appreciated too.

    The front of the house is N/NW facing so the living areas currently don't get much sun in Winter at all and get only the hot afternoon sun in Summer. The windows are extremely energy inefficient and though beautiful (art deco zinlighting in 3 of them and front door) are very expensive to refurb (quoted $10K 3 years ago just to refurb zinclighting, no fixing sashes/painting timber/replacing any bad bits). We have contemplated replacing them with new timber double glazed but are worried that would remove the only character from the house. Any advice on this also would be appreciated. Should we do them before/while asbestos is being removed and before new cladding goes on? If there is a delay in cladding what issues arise with that?

    So for anyone who has renovated a house would you do the bare minimum things others have done so that you could either sell now or in a few years at the bigger profit or keep as a rental? Or would you remodel to then still probably have the same equity but a house you could stay in for a longer time or rent out for more? I know it probably all comes down to cost but would there be a great cost difference between remodel and just spruce up given we are not extending, only working within the existing footprint?

    Any advice, suggestions, etc are appreciated. We are in WA and we have talked to our bank so we know roughly what we have to play with.
    Attached Images

  2. #2
    Join Date
    Nov 2008
    Posts
    14,057
    Thanks
    1,875
    Thanked
    2,608
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 postsEmerald Star - 10,000 posts
    I don't have advice, but wanted to point you to a website that will without a doubt have an abundance of information and suggestions. Google 'Home One', it should be the first result. DF and I have been using the forum and have found it invaluable.

  3. #3
    Join Date
    Feb 2012
    Posts
    216
    Thanks
    23
    Thanked
    23
    Reviews
    0
    Thanks Bell! I have posted this on there too.

    We have no idea what we are doing or should do and just really need someone to give us some perspective I guess. No one we know has been in a similar situation either so it is hard.

    We don't want a huge mortgage because we will be on one income for a while after next year but we also don't want to raise kids in an asbestos clad, energy-inefficient hole.

  4. #4
    Join Date
    Jan 2006
    Location
    Gold Coast
    Posts
    8,267
    Thanks
    309
    Thanked
    356
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    How long do you plan on staying in the house?Really you dont want to over capitialise.
    Like I bought in a complex,and at the time it was cheapest in the market for $280k.BUT since then TWO houses in my complex were taken by bank,and resold for $220-240k.And one place had spent 60k on renos
    Now most houses are valued at $220k which sux for me.I wont live here forever so wont pour money into our place,but stuff like painting and flooring doesnt cost heaps,but makes my life easier looking at it haha.
    So I would prob stay there,,,do minor renos,enough to enjoy the house while you are there,but dont pour too much into it unless its a forever house.Enough for you to enjoy for the time being

  5. #5
    Join Date
    May 2012
    Posts
    804
    Thanks
    222
    Thanked
    292
    Reviews
    0
    Achievements:Topaz Star - 500 posts
    Is the top image your original layout ?
    If so then I would Remove the walls around the corrider and foyer to open up the lounge room.
    There is alot of wasted space there.

    Open up the wall between the dining room and kitchen so that your lounge/dining/kitchen is more open plan area.

    I would leave the batroom and kitchen where they are as they are expensive jobs to move, but update them if need be.

    As for the back area of the house, I would combine the sleep out with the unused space to create an extra bedroom or study/sunroom area, leaving a small corridor via the back entrance and building a large deck/outdoor entertaining area out the backyard, even better if its covered.

    If you have the money I would consider extending onto that sleepout and unused space area to create 2 more bedrooms there.
    The more bedrooms the more it will sell for.

    Have you got any pics of the back and front yards ?

  6. #6
    Join Date
    May 2012
    Posts
    804
    Thanks
    222
    Thanked
    292
    Reviews
    0
    Achievements:Topaz Star - 500 posts
    As for the windows I would either leave them and spruce them up as much as possible or replace with a cheaper window that has the same sort of character/shape as the old ones.
    You should be able to get timber frames made up in the shape you need and perhaps get a bit of leadlight put into the lounge window for character.

  7. #7
    Join Date
    Feb 2012
    Posts
    216
    Thanks
    23
    Thanked
    23
    Reviews
    0
    Thanks for the replies guys.

    Chels - we have had that downturn and it is only just coming back now. Sucks though doesn't it? The million dollar question is exactly that though - will we stay or go? I don't want a huge mortgage so I think for me anything that we do to the property needs to add the right kind of value but we would sell as soon as we are done and move on. I would want to remodel if we were going to stay and honestly that seems to me like it would be way more expensive than just doing the basics. I'll find out I guess if I get quotes on both options.

    Blue Dragon - thanks for your ideas. I was thinking the same thing about the corridor and opening it up as it is very dark too. But (I couldn't show everything on the drawing due to the stupid free program I used) there is a fireplace on the wall near the entry from the foyer to the lounge that would mean that opening up that corridor wall would leave nowhere to put the tv.

    I definitely agree that we want to open up the wall between the kitchen and dining though. I don't know how we are going to layout the kitchen given there is that chimney there but it could be enclosed to make a pantry or opened up a bit more for the oven and a work bench. I have seen it in other houses anyway so can't be too hard.

    We will def leave the bath and kitchen where they are if we are just looking to sell for a profit. The bathroom doesn't really need to much other than new shower screens and painting the walls and ceiling above the tiles. The tiles are blue but not overly offensive and the vanity is like new as is the mirror. The kitchen on the otherhand I would definitely remove and do up. It is in original condition bar the layers upon layers of paint the previous owners slabbed on and definitely will drag down the value of the house if we don't do something more with it.

    Agree about increaing the third bed space but there is a window from the bathroom along the wall in the unused space there so if we aren't doing much to the bathroom I would leave it there and only bring the wall up to where the window starts. Still gives another nearly half a metre to the room size though. There are louvres along the entire wall of the sleepout so they and the asbestos means the area needs a full reclad anyway and a window put in.

    As for the deck/outdoor entertaining area, we have a skillion roof over the sleepout and laundry areas and the house itself is on stumps elevated above ground level by about 800mm most of the way around. Would you have the deck at ground level or at the same level as the rest of the back of the house? Don't you need hand rails all the way around and on the steps then too?

    From my research of our area any more bedrooms than 3 actually doesn't add much value at all and neither does an extra bathroom. Weird but true. It is actually things like a lock up garage that adds lots of value to a home here. I didn't show it on that drawing but there is a carport (rusty and rubbish) that comes off our master bedroom. We would like to add a lock up garage that is timber/steel frame and weatherboard in it's place. Best to get it done while doing the reclad.

    I'll get pics tomorrow of the back and front yards.

    The windows are a tough one but I don't think we could leave them as is. The zinclighting is up to poo and some of the panes have cracks. They are timber sash and most of them don't go up, there are no flyscreens so pointless to have open anyway and one is getting water damaged. I couldn't know that and just try to cover it up with curtains and a coat of paint (as the previous owners did to us). From what I have read it is about $1600 per window (incl the window) to get them removed and replaced with new timber windows and we have 6 that we would need (1 being just supply and install for the back bedroom). I wouldn't get double glazing though if we are just doing it to sell the place.

    Keep the advice coming.

  8. #8
    Join Date
    May 2012
    Posts
    804
    Thanks
    222
    Thanked
    292
    Reviews
    0
    Achievements:Topaz Star - 500 posts
    with the back deck i would have it level with the house floor and some basic handrails around it perhaps timber with that thick wire threaded through.

    The garage is a good idea.


 

Similar Threads

  1. Experience/opinions needed please!!
    By Jarylee in forum General Parenting Tips, Advice & Chat
    Replies: 4
    Last Post: 29-11-2012, 11:16
  2. Replies: 0
    Last Post: 02-05-2012, 19:29
  3. Experience/expert answer needed-4 mo baby wants to sit a lot
    By yyllliu in forum General Parenting Tips, Advice & Chat
    Replies: 3
    Last Post: 26-02-2012, 23:16

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
free weekly newsletters | sign up now!
who are these people who write great posts? meet our hubbub authors!
Learn how you can contribute to the hubbub!

reviews
learn how you can become a reviewer!

competitions

forum - chatting now
christmas gift guidesee all Red Stocking
Springfree Trampoline
Give the Ultimate Christmas Gift Springfree Trampoline
The World's Safest Trampoline™ is now also the world's first Smart Trampoline™. Sensors on the mat detect your every move and your jumps control fun, educational and active games on tablet. Secure the Ultimate Christmas Gift today!
sales & new stuffsee all
True Fairies
True Fairies is the first interactive website where children can engage and speak with a real fairy through the unique webcam fairy portal. Each session is tailored to the child, and is filled with enchantment and magic.
Visit website to find out more!
featured supporter
Cryosite Family Cord Blood & Tissue Bank
Cryosite has been providing Cord Blood Banking services for over 12 years, and is the trusted choice of Australian families. To discuss the benefits of banking your baby's cord blood & tissue stem cells call us on 1800 220 410.
gotcha
X

Pregnant for the first-time?

Not sure where to start? We can help!

Our Insider Programs for pregnancy first-timers will lead you step-by-step through the 14 Pregnancy Must Dos!