Case study – Banksia st Heidelberg
Description:
Sydney based client, 3 bedroom villa unit with front garden and rear courtyards circa 1980. Currently tenanted for $285pw. Agents value $320-$350,000
Project Objective:
Increase value of property via full rejuvenation and lift current rental by 25%
Before Photos
Works carried out
Full strip out and replacement of Kitchen, bathroom, carpets, light fitting, switches, door handles, appliances, painting, window coverings, door stops. Garden refresh and garage clean thrown in!
After Photos
Project statistics and results:
| Time to complete: |
7 weeks |
| Rental before: |
$285 per week |
| Valuation before: |
$320 - $350k |
| |
|
| Cost of works: |
$29,800 (Included removal of wall) |
| Rental after: |
$410pw (69.5% increase or $6500 pa) |
| Valuation after: |
$350 - $380k |
| Time to re lease: |
1 week |
| Source: Louis Christou, Director Christou &Co R/E Eaglemont Vic |
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