Project: Equity Project
Purpose: To add value
Scope of work:
Repainted interior and exterior of house, sanding & tinting of wooden floors, sandblasted tiling around pool, painted pool, planted bamboo trees, new grass and garden front and back, fixed all exterior pagodas and cabana, new garage door motor, new grass on footpath.
Biggest challenge with this project:
There was a block of units next door and we had to disguise it with bamboo trees along one side of the garden (6 meters high bamboo trees from Brisbane).
Best renovation budget finds:
We renovated the pool and Judy had to pay for the cost of the paint $400.
How long did the renovation take?
3 months
Biggest lesson as a student of The School of Renovating:
That we can make our dreams come true.
Renovation Cost Breakdown
| Purchase Price | Buying Cost | Holding Cost | Renovation Cost | Valuation | Is the project profitable | Increase in Value |
| $350,000 | $50,000 | $ 9,000 | $120,000 | $3,000,000 | YES | $280,000 |
Preparation and due diligence is vital… buy well, create good relationships with your team of trades and most importantly become involved with your community of renovators through Bernadette and her Team at the School of Renovating.
