澳洲Australia property Renovation Figures | Sydney


在澳大利亚 Hi all, I currently have a PPOR and 10K cash in the bank which I plan to use as a deposit for a IP early next year. Is it possible for me to place this into my PPOR loan and then redraw the 10K when Im ready for the IP and then claim the int Hi Guys, Ive found a property that has mentioned two payments coming up of $1400 to apparently top up the admin fund and 2 have just been paid. Im looking at a financial statement (basically a balance sheet) for the strata and its all a bit


Hi guys

I'm trying to convince my dad to help me do a reno.
He's got all the handyman skills required (which I lack!) and I know he'd enjoy it
Has anyone got on hand some figures illustrating profits made versus costing?
What would be even better.....is a calculation of net profit

ie.

# Purchase Price
# Costs involved with purchase -and hence cost base
# Reno costs
# Selling Price
# Costs associated with selling
# NET PROFIT before CGT (if incurred)
# NET PROFIT after CGT

Much appreciated guys!

Sam  

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Example :
Sydney detached house

Purchase Price : $500k
Estimated Sale Price : $650k
Reno Timeframe : 2 months
Holding Costs (interest @ 6%($2625 /month) $5250
Other purchase costs : $25k
Reno Costs (with no major structural changes)
- Kitchen : $10k
- Painting : $3k
- Bathroom : $5k
- Floor coverings : $3k
- Roof painting : $2k
- Gardening/Landscaping : $5k
Total : $28k

Selling costs : $10k (no idea - I have never entertained the thought of selling a house)

Net Profit before CGT : $82k
Net profit after CGT : $41k (if sold < 12 months)

Disclaimer : It is quite likely a lot of these figures are wrong. Other holding costs such as rates ... are not included
The quality of the reno will depend on where the house is and potential buyers.
A lot of the reno costs involve prior preparation to reduce the cost of professional tradesmen
I have estimed other purchase costs ($25k) to include stamp duty, legals etc ...  

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A rough guide for costs are:

5% of purchase $ in.
10 - 15% of purchase price for reno.
2% of purchase $ holding costs while doing reno, sell & settle. (Allow 16 weeks total)
4% of sale $ out.
50% of profit to CGT and 25% of profit to CGT if sold after 12 months.

EDIT: Id like to add that the big variable is reno costs, which are determined by the type of market you're in and your overall strategy. Wether you're hands on or get a builder in or maybe you'd like to just do a quick cosmetic reno. ie: paint, floor covering, blinds and yard clean up. In this case you could be spending only 5% of purchase $.  

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Thanks Brains!  

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