‘Suffolk Park’north coast NSW
2016 property valued at $850,000 before renovation
Small holiday shack that had been last updated in the 1970’s. Planned, designed and liaised with trades – painted the external bricks, knocked down some walls inside, added new kitchen, bathrooms, laundry, flooring and added a deck. Purchased and installed furniture and fittings, ready to move in or holiday let. Converted the garage into a rentable studio. The owners were interstate during the renovation, which was left entirely in our hands.
Renovation spend including our fees $190,000
Current value $1,300,000
Equity increase $260,000
House rental income before renovation $450 per week – After renovation $600 per week
Garage rental income before renovation Nil. – After renovation $300 per week
Or $1,000 to $2,000 per week for standard holiday rental and $3,000 +per week in peak holiday season.
Type property, real estate