Home owner Lisa, bought this apartment ten years ago and has been renovating areas of her home ever since. She hasn’t started on the bathroom yet as she feels it’s a big job and is slightly nervous to tackle this part of the renovation herself.
Ideally, Lisa would love her new bathroom to have a modern, fresh and clean look. In the very near future, Lisa will be making a sea change and relocating to her investment property in the Blue Mountains so she’s hoping that by updating her bathroom, she’ll attract a good tenant for a decent rent.
Lisa has allocated $2000 to cosmetically spruce up her bathroom. Not knowing exactly where to start, Lisa has called on the help of Cherie Barber to offer her guidance and knowledge, especially on renovating on a tight budget.
Cherie’s renovation strategy was to create a modern and fresh looking bathroom without structurally altering anything to help increase the value of Lisa’s apartment. The cosmetic scope of works included:
- Removal of old shower screen and replace with clear glass shower screen.
- Install new removable timber floor then apply sealant straight over
- Remove old shaving cabinet and install new mirrored wall hung cabinets.
- Extensive tile painting.
- Paint existing walls and ceiling.
- Install new bathroom vanity.
- Install new window furnishing.
- Retain all other fixtures and fittings.
Property Value (Before Renovation): $550,000
Renovation Spend Total: $2248.94
Renovation Timeframe: 3 days
Property Breakeven Point: $553,000
Property Value (After Renovation): $580,000
Gross Profit Margin: $27,000
*Homeowner upgraded to frameless shower screen during reno. Original quote / budget was $700.00 hence budget overrun of $210.00
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