15 K for improvements

[shahil.nazia]

Hi,
How would you spend 15K on improvements to a generally "tired" house? Please state order of preference.

Cheers,
shahil

[Monkeyboy]

Paint - In and Out
Deck
Carpet

[drelly]

Three 42" plasma TV's.

[GJB68]

Kitchens & bathrooms.

There are a lot of companies competing now for DIY'ers (Mitre 10, Placemakers, 3 Brothers, Bunnings etc) so prices are great and can change the whole look of a place for a reasonable price.

It all depends on the state of cabinets etc, sometimes a paint and 3$ stainless steel handles can make a kitchen look great and of course this will change if it is a rental or a a do-up to sell.

New Taps, Big Mirror and splashback tiles can transform a bathroom also..

Depending on how these two areas go, I see what else needs doing and work it in to the budget as appropriate.

[Monkeyboy]

How much extra would you pay for a 42" Plasma TV, Dave.

[Heg]

Three 42" plasma TV's.

Are you and my hubby related at all?

GJB68 has hit the nail on the head.
also - don't forget street appeal. A bit of landscaping can add a lot of value.

[shahil.nazia]

Plasmas..

Three 42" plasma TV's.

I wonder how these would depreciate..lol

~shahil.

[shahil.nazia]

trade discount

Kitchens & bathrooms.

There are a lot of companies competing now for DIY'ers (Mitre 10, Placemakers, 3 Brothers, Bunnings etc) so prices are great and can change the whole look of a place for a reasonable price.

Do any of these outlets have trade discounts? how to you access this?

~shahil

[Heg]

I wonder how these would depreciate..lol

~shahil.

You may joke but ask Steve Goodey. He just bought one for a rental place I believe.

[shahil.nazia]

the case of plasmas..

You may joke but ask Steve Goodey. He just bought one for a rental place I believe.

The properties Steve G is putting in plasmas for are upmarket accomodations and student rentals - which is an excellent idea to attract quality tenants. However, I dont think its a good idea putting one in a rental in South Auckland.

~shahil.

[drelly]

I was kidding of course... don't plasmas only last about 5 years anyway?

[Heg]

However, I dont think its a good idea putting one in a rental in South Auckland.

~shahil.

No - most of the tenants in South Auckland already have one

[Traff]

My Thoughts On renos

1- Outside - landscape for street appeal
2-Kitchen -mum buys and rents houses -Dad pays( I also sell kitchens so am biased)
3- paint interior white or neutral
4.bathroom -minimal amount to make tiday and acceptable- tile setc can make the difference -use existing bath etc and clean really well.
5-carpet - must be reasonable or the house looks sh.t, plenty of cheap end rolls around.

We did a house recently in Manurewa for 15k top to bottom inside so its definatley posssible, had a thread on here about it somewhere ??

Good luck

Mark

[Stevegoodey]

I think a better question would be what does the property need?

Or

What does the tenant want?

Or

What will the tenant pay for?

There's a fine line between what improvements will make the property worth more, and what will provide more rent.

Without knowing the property and as a general rule.....

Don't spend money on anythig you can't see, so do do cosmetic, paint carpet curtains, don't do wiring, piling roof painting.

If your going to spent money on bathrooms and kitchens buy stuff that is shiny, go for stainless steel and chrome were possible.

If possible after this spend money on extra's that will get more rent like.....

Dishwasher
Freezer (If family type home)
Dryer/washing machine
Garage/carport
Extra bedroom

After that spend any extra money on the next deposit.

Steve

[Stevegoodey]

The properties Steve G is putting in plasmas for are upmarket accomodations and student rentals - which is an excellent idea to attract quality tenants. However, I dont think its a good idea putting one in a rental in South Auckland.

~shahil.

Yes true I'm trying out my first rent by the room property.

I would not recommend this stratergy for the average property.

I wil start a thread and let you know how it goes.

Steve