‘Suffolk Park’north coast NSW

Project Description

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.

Project Details

Status Completed

Type property, real estate

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