Increasing the performance of our client’s investment property is just another way we assist our clients, just like these ones we helped via our renovation consulting service.
Just take a look at the before and after photos and you will see the massive difference we made to this investment property located in the Brisbane suburb of Wavell Heights.
After owning the property for several years, the dwelling had started to deteriorate, and the rental demand and rental returns had started to slip, so it was time to take action. Prior to beginning this renovation, we identified that not only did the property need renovation, but also maintenance, which we attended to within the scope of works.
By undertaking this renovation the property was successfully leased in the first week of advertising! And is now a low maintenance investment property for our client.
So here is what we did, and the numbers to go along with it!
Scope of Works
- Full internal and external repaint
- New kitchen
- New bathroom and separate toilet
- Laundry relocation from down stairs to up
- Robes throughout
- Lighting upgrade
- Window furnishings
- Guttering replacement and down pipe repairs
- Yard fencing
Total Renovation cost; $80,000
Pre-Renovation Value: $540-560,000
Post-Renovation Value: $660-680,000
Increase in Value: $120-140,000
Pre-Renovation Rental Return: $375 – $395 per week
Post-Renovation Rental Return: $500 per week achieved by the
Hot Property Management Team
Increase in Rental: $105 – $125 per week