Renovation guru, Cherie Barber tackles a two bedroom 1970’s apartment destined for a quick sale. Purchased as an investment unit by the owners, Trevor & Vicky, they intended to start renovating right away however after discovering early on, unexpected water leak issues, their motivation took a turn for the worse and renovations ceased. While the owners had initially planned to spend upwards of $12,000 on a complete refresh, Cherie reigned in the budget to nearly half! More importantly, she motivated the owners to put in 5 days hard effort to get the apartment renovated quickly and on the market for sale.

RENOVATION STRATEGY:

Complete cosmetic renovation with an overall aim to add some wow factor for the lowest price possible. The finished property will be targeted to first home buyers, aged between 20 – 30 years as this is the most common demographic of potential buyers in the area.

• Installation of new timber laminate floorboards
• Installation of new skirting boards
• DIY Painting throughout
• Install decorative wall decal in main lounge area
• Disconnect existing lights & install new feature lights
• Tile Paint existing bathroom
• Remove old blinds & install slimline micro venetians in all rooms
• Install new kitchen cupboard handles
• Recolour grout in kitchen splashback tiles
• DIY Cleaning of many existing fixtures and fittings

Property Value Before Renovation: $490,000

Renovation Spend: $5,665

Renovation Timeframe: 5 Days

Property Breakeven Point: $495,665

Property Value – Post Renovation: $540,000

Profit Margin (After Reno Costs): $44,335