Stafford Heights - Renovation
Before and After Transformation
Back in 2015, we partnered with these savvy investors to secure their first Brisbane property for an incredible $518,500—a steal even then! Fast forward nine years, and the time had come to unleash its full potential through a strategic renovation.
Understanding the market dynamics of Brisbane's inner suburbs, we knew transforming this property from a typical "3 bed 1 bath" layout was crucial. Without an ensuite, such properties often hit a ceiling in rental yield and market value.
The floor plan presented a unique opportunity: we ingeniously ensuited the master bedroom via a discreet doorway through the built-in robe. Additionally, we converted the original separate toilet into a stylish powder room with a sleek wall-hung vanity. A previously underutilized storage space adjacent to the laundry was transformed into a spacious main bathroom.
The comprehensive scope of renovations included:
Full internal and external repaint to rejuvenate its curb appeal.
Roof refurbishment to ensure long-term durability and aesthetic cohesion.
Installation of two brand-new bathrooms and a modern powder room to enhance convenience and appeal.
A contemporary kitchen makeover with state-of-the-art appliances to elevate both functionality and aesthetics.
Hybrid timber-style flooring throughout for a seamless blend of elegance and durability.
Precision yard trimming and landscaping to enhance outdoor living spaces.
Upgraded window furnishings for enhanced privacy, comfort, and energy efficiency.
Electrical system overhaul to meet modern safety standards and improve energy efficiency.
Managing these extensive renovations—totaling just under $140,000—was crucial for our clients, who reside in regional NSW. Our hands-on renovation consulting services ensured a streamlined process, minimizing disruption and optimizing efficiency. From start to finish, the renovation was completed in approximately seven weeks, swiftly returning the property to the rental market with minimal downtime.
From a financial standpoint, the results speak volumes. The $140,000 investment in renovations translated into a robust rental yield increase of $260-$280 per week. When factoring in the original purchase price and renovation costs totaling $658,500, the property now commands an impressive rental return of $760-$780 per week, equating to a solid 6.15% gross rental yield.
Moreover, the investor benefits extend beyond increased rental income. The renovations also qualify for significant tax depreciation benefits, allowing the investor to offset taxable income and maximize their return on investment over time. This added financial advantage further enhances the overall profitability and appeal of the property as an investment vehicle.
Beyond rental income, the capital appreciation of the property has seen a remarkable upswing. The post-renovation valuation now stands around 200% higher than its pre-renovation value. This underscores not just the financial gains but also the strategic foresight in leveraging renovations to unlock the property's true value potential.
In conclusion, this success story highlights the power of strategic property renovation. By transforming a standard "3 bed 1 bath" layout into a contemporary, high-yielding asset, we've demonstrated how thoughtful upgrades can significantly enhance both rental returns and property value. Whether you're considering entering the property market or optimizing your investment portfolio, strategic renovations can pave the way to substantial financial rewards.
To chat to the team get in touch today!