Cherie’s Gladesville Apartment Renovation
Homeowner Jen bought her apartment in Gladesville NSW, quite a few years ago. Until now, the apartment has remained mostly the same as the day she moved in. Built in the 1970’s, Jen has been wanting to renovate for some time to change her home from an outdated piece of real estate, to a fresh and modern apartment ready to place on the current property market.
Deciding it’s time to move from her 70’s apartment to a larger place, her strategy is to renovate in order to attract buyers or renters, to get together the money she needs to transition into a larger living space.
With a small budget of under $6K and almost no knowledge of renovating or interior design, Jen reached out to The Living Room and The Renovation Queen™ Cherie Barber to strategically renovate her apartment and lift her sell or rental price.
RENOVATION STRATEGY:
Cherie’s renovation strategy was to cosmetically renovate the whole 1 bedroom apartment. Her strategic plan included freshening up the apartment with the right colours, materials and finishes to give it a modern look on a shoestring budget. She kept a neutral palette for broad buyer appeal, while still playing homage to the 1970’s apartment block.
The scope of works included:
- Slight modification to pantry cabinet & benchtop in kitchen
- Cosmetically refresh the existing kitchen (laminate & benchtop resurfacing)
- Cosmetically refresh the existing bathroom (tile painting – floor and wall tiles)
- Install new laminate floorboards throughout the whole apartment
- Install new lighting in kitchen & bathroom
- Paint apartment internally throughout
- Install new window furnishings
- New shelving in living area to increase wall storage space
BUDGET:
Property Value (Before Renovation): $510,000.00
Renovation Spend Total: $5,895.43
Renovation Time-frame: 3 days
Property Break-even Point: $515,895.43
Property Valuation (After Renovation): $535,000.00
Net Profit Margin (After Reno Costs): $19,104.57
Please Note: No capital gains tax is payable as it’s the homeowners primary place of residence. Owner will incur agent’s commission, marketing costs & styling costs if she sells her property. These costs would have applied, whether she renovated or not.
| LABOUR COSTS | Amount |
| Carpentry & Building Labour (Across all rooms) | $2,615.00 |
| Electrical Labour (Whole apartment) | $ 275.00 |
| Sub-Total: | $2,890.00 |
| MATERIAL COSTS | Amount |
| Internal paint | $ 400.00 |
| Vinyl flooring | $ 442.40 |
| Masonite flooring & adhesive | $ 527.44 |
| Pantry cabinet | $ 225.25 |
| Laminate Benchtop | $ 122.55 |
| Kitchen splashback tiles | $ 46.94 |
| Rust-Oleum Countertop Transformation Kit | $ 147.84 |
| White Knight Laminate Primer & Paint & Tile Paint | $ 227.05 |
| Electrical lights X 2 & powerpoints X 2 | $ 111.41 |
| IKEA Curtains (2 Packs) & 1 X curtain rod | $ 143.38 |
| Slimline venetians X 3 | $ 315.20 |
| Shower curtain | $ 11.90 |
| Miscellaneous hardware (including shelving) | $ 284.07 |
| Sub-Total: | $3,005.43 |
| TOTAL RENOVATION COST | $5,895.43 |
TAUBMANS PAINTS USED
INTERIOR WALLS: Taubmans Easycoat – “Tundra Mist” – “Sprig of Ivory” (Low Sheen)
INTERIOR FEATURE WALLS: Taubmans Easycoat – “Ginger Rose” (Low Sheen)
WHITE KNIGHT PAINTS USED:
TILE & LAMINATE PRIMER: White Knight Tile & Laminate Primer
TILE PAINT: White Knight Tile Paint – White
KITCHEN CUPBOARDS: White Knight Laminate Paint – White
RUST-OLEUM PAINTS USED:
KITCHEN BENCHTOP: Rust-Oleum Benchtop Transformation Kit – Diamond White
FLOOR TILE PAINT: Rust-Oleum Tile Transformation Kit – Slate
For more information visit: www.taubmans.com.au
