How to value add with a few simple renos

first_imgVideo Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:29Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:29 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenWays to get into the property market for less00:29You don’t need to be a contestant on The Block to make money through renovation.It can be easy to add value with a few simple changes, according to Dan Meehan of Citibuild. You just need to make sure you do the right renovations. MORE NEWS: ‘Starter house’ in million-dollar suburb gone in 60 seconds Stunning multi-million dollar reno Block winners are now millionairescenter_img Generic image of a young couple looking at assorted paint colors. ThinkstockMr Meehan said that in the Queensland climate, even just creating an outdoor entertainment area through the addition of a patio could add thousands to the final selling price.While his core business is commercial construction, Mr Meehan said he was often on the lookout for homes to renovate.His latest acquisition is a three-bedroom brick house at Berringa Court, Ashmore which he bought about two months ago.“It was a mortgagee in possession sale, so I was able to get it pretty cheap and then do some work to add value to it,” he said. Tess and Luke win The Block 2019On completion he will have invested about $60,000 in renovations, including updating the kitchen and bathroom, painting and putting on a new extended outdoor patio and a carport.“With the changes, my agent tells me we should be able to see a return of double the amount we invested in the renovations,” Mr Meehan said.“One of the big improvements was creating an outdoor living area and carport, which only cost about $15,000 but will have increased the property value by double that.’’ Jason Heffernan and his partner Esther Bond renovated this house at 66 Newman Avenue in Camp Hill Pic Jamie Hanson And here is the front of the house at 66 Newman Ave, Camp Hill, before the renovation.Delta Panels general manager Todd Guy said his company worked with several builders who reported similar results.“In the Queensland climate, adding a covered, insulated outdoor area can be a significant selling point,” Mr Guy said.More from newsParks and wildlife the new lust-haves post coronavirus10 hours agoNoosa’s best beachfront penthouse is about to hit the market10 hours ago“Not only does a covered patio give protection from the sun but it can really improve the look of a home, plus extend the living areas for use all year round.“Patio roofs now come with skylights and LEDs, so your indoor-outdoor area is light and comfortable at any time of day.”Brisbane real estate agent Haesley Cush said there were plenty of ways that homeowners could add value. Ray White New Farm auctioneer and Haesley Cush (AAP image, John Gass)“Firstly, it’s really important to do your research and see what is in demand in your market before spending a cent,” Mr Cush said. “If you are renovating to turn a profit, don’t just consider what you like because potentially not everyone else will like that.“Think about what sort of things can make a home more useful, and practical and what will suit a lot of different family types.“Make it look like you can move straight in. Little things like peeling paint can make it look like it requires maintenance, so consider a lick of paint, carpet and furniture.“Ultimately, that first impression only takes a few seconds and the open house lasts less than an hour, so the pressure is on to make it ‘the opening night on Broadway’ .”last_img

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