RENOVATING FOR PROFIT HOUSE RENOVATION - DURAL Homeowner Brian has been the proud owner of a large residential home in Dural in Sydney’s Western fringe for the last 20 years. Built in 2000 and featuring 5 bedrooms over a large 200 square metre footprint, his home has been meticulously maintained but not renovated, since it was built. As a large family home and with Brian the only occupant within it, he’s decided it’s time to sell, downsize and move closer to the city, into a much smaller home. However, his outdated interiors will make it difficult for Brian to achieve top dollar for his home, and limit the number of buyers willing to make an offer. Not knowing anything about interior design, construction and how to manage the whole process, Brian calls on The Living Room for Cherie Barber’s expertise to turn his dated home into a luxury abode on a budget.
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RENOVATING FOR PROFIT HOUSE RENOVATION - DURAL Homeowner Brian has been the proud owner of a large residential home in Dural in Sydney’s Western
fringe for the last 20 years. Built in 2000 and featuring 5 bedrooms over a large 200 square metre
footprint, his home has been meticulously maintained but not renovated, since it was built.
As a large family home and with Brian the only occupant within it, he’s decided it’s time to sell,
downsize and move closer to the city, into a much smaller home. However, his outdated interiors will
make it difficult for Brian to achieve top dollar for his home, and limit the number of buyers willing to
make an offer.
Not knowing anything about interior design, construction and how to manage the whole process,
Brian calls on The Living Room for Cherie Barber’s expertise to turn his dated home into a luxury
abode on a budget.
Before Lounge room After Lounge room
After photos
Before After
KEY JOBS
Cherie’s renovation strategy was to cosmetically renovate the whole of the house internally (no
external works required). Further, due to the higher resale potential, Chere’s strategic plan was to
visually present the property to a luxurious standard on a budget (of less than half of what you
normally should spend).
The scope of works included:
• Remove existing tiled floor & replace with new tiled marble look floor tiles.
• Install new kitchen doors, benchtops & new kitchen appliances.
• Internal painting throughout including feature walls
• Install built-in wardrobe to bedroom 3.
• Install new lighting & ceiling fans throughout the property.
• Install new window furnishings (blinds & curtains).
• Cosmetically transform 2 bathrooms & laundry with specialty paints, new benchtops & fixtures.
• Square off 2 x non-structural arched walls.
FINANCIALS Property Value (Before Renovation): $1,400,000 Renovation Spend Total: $ 62,909 Renovation Timeframe: 9 days Property Breakeven Point: $1,462,909 Property Sold Price: $1,600,000 Uplift In Value: $ 200,000 Net Profit Margin (After Reno Costs): $ 137,091 Please Note: No capital gains tax will be payable as it’s the homeowners primary place of residence. Owner will incur approximately $35,000 in agent’s commission, marketing costs & styling costs to sell his property.
LABOUR COSTS Amount Carpentry & Building Labour (Across All Rooms) $14,707.00 Tiling Labour (Whole House) $13,050.00 Plumbing Labour (Across Kitchens & Bathrooms) $1,256.10 Electrical Labour (Across Whole house) $1,908.50 Shower Screen & Wardrobe Installation $1,719.00 Construction Labourers $1,115.40 Painting Labour $7,500.00 Sub-‐Total: $41,256.00 MATERIAL COSTS Amount Floor Tiles $4,254.98 Carpet for Bedrooms (including installation) $3,400.00 Kitchen & Bathroom Cabinetry Panels $2,600.00 Blinds $1,507.20 Curtains $1,195.95 Paint (Received Free but normal value approx. $1,300) $1,300.00 Skip Bins x 2 $1,555.00 All other Miscellaneous Fixtures, Fittings & Hardware (All From Bunnings) $5,839.87 Sub-‐Total: $21,653.00