| Project Location | Newcastle NSW |
| Project Type | Major renovation |
| Advertised Price | Auction RP Data Auto Valuation Estimate $950,000 |
| Purchase Price | $845,000 |
| Discount Achieved | $105,000+ |
| Sale Type | Negotiation after auction (property passed in at auction) |
| Terms of purchase | - 5% deposit - 42-day settlement |
| Market Research Conducted | - Suburb performance – review of historical and recent charts to confirm consistent capital growth - Stock on market - Vacancy rates - Key needs and desires of target end-purchasers - Comparable sales data – current condition - Comparable sales data – post renovation - Sales and ‘on-market’ history of property - Vendor motivations |
| Property Attributes | - Located in blue chip highly sought-after suburb - Free standing ‘ugly duckling’ home - Easy access - Structurally sound - Walking distance to key local amenity including shops, parks, medical and beach |
| Value Add Strategy | 1. Conduct detailed market research 2. Negotiate and buy below market value – insert tick 3. Work with consultant team to convert from 3-bed home into 5-bed home and re-work floorplan 4. Project manage full internal renovation to modernise fixtures, fittings and finishes and improve flow utilising tried and tested licensed trades. 5. Install ‘Entertainers’ kitchen 6. Add storage throughout 7. External landscaping and facelift to improve street appeal 8. Utilise increased equity to fund next property investment |
| Our team | Solicitor Mortgage Broker Architectural Draftsman Building Inspector Surveyor Engineer Certifier Licensed builder Key sub-trades |
| Renovation Budget | $186,000 |
| Target Post Renovation Value | $1.5M |
| Project Duration | Renovation complete |
