17 Aug

Number One Tips For Renovating In Sydney – 2106

Whether you are renovating your home or developing old properties for profit, my 16 years of renovating via the ‘school of hard knocks’ has taught me a few lessons worth passing on. You can save a fortune bu following these tips:

Tip One – Never Employ Kitchen or Bathroom ‘renovation’ Companies

You must have seen ads for a bathroom renovation saying ” new bathrooms from $16,000″ or “new kitchens from $18,000” – FORGET IT!

Part One – New Bathrooms

In my experience a modern, sleek bathroom renovation, assuming no change in plumbing location is required, should cost you no more than $8000! – YES, $8,000

How is this possible?? Here’s how:

  1. subcontract out all services – plumbers, electricians and tilers
  2. a good tiler can tile a bathroom for $1,000 – YES $1,000
  3. a plumber can plumb a new bathroom for $1,500
  4. a decent electrician can rewire a bathroom for around $900 depending on the lights, exhaust systems and heated towel rails you need
  5. new vanities cost $200 – $500
  6. bath tubs cost a measly $300
  7. shower cubicles cost $500
  8. tiles – well, an entire bathroom full of tiles, floor to ceiling can be your for less than $400 – YES, $400

bathroom renovation

In part 2 we look at the in’s and out’s of saving tens of thousands of dollars on that new kitchen or bathroom and how to find a good tiler, plumber or sparky.

17 Aug

Sydney property market – August 2016: Where to from here?

The R.B.A. , in their August 2016 statement has indicated that global economies continue to be uninspiring, the commodities boom is dead and the local property market is now less exuberant due to the R.B.A’s  supervisory measures. They State:

“Supervisory measures have strengthened lending standards in the housing market. Separately, a number of lenders are also taking a more cautious attitude to lending in certain segments. The most recent information suggests that dwelling prices have been rising only moderately over the course of this year, with considerable supply of apartments scheduled to come on stream over the next couple of years, particularly in the eastern capital cities. Growth in lending for housing purposes has slowed a little this year. All this suggests that the likelihood of lower interest rates exacerbating risks in the housing market has diminished. 

Taking all these considerations into account, the Board judged that prospects for sustainable growth in the economy, with inflation returning to target over time, would be improved by easing monetary policy at this meeting.”

I see this as a reasonably positive statement, from a property renovators view. certainly the heat has gone out of the property market in inner west Sydney and the eastern suburbs. The newly formed inner west council looks set to operate in a more professional manner than the 3 councils they now replace. This may, hopefully, transpire into more inner west councileffective planning decisions and speedier development application approvals – we live in hope!