澳洲Australia property Reno Ratio | 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
Is there a ratio that can be used to estimate the cost of a reno based on the price of property? (sight unseen) eg.
10% for reno
And like wise for possible increase in valuation from a “smart reno”. eg.
30% Increase in valuation
$195K after 10% Reno
I’m after rough figures to use in a financial plan, something that’s representative of the actual market from people who are doing it.
I think a lot depends on what you do, and to what property. 10K spent on a 150K property that is worst house in a good street will increase its value far more than 10k that is spent on a 150k house that is the best house in a bad street. Because of this, I think a ratio that could be used for any property might be difficult to calculate, without being VERY general.
Maybe someone else could tell you otherwise...
I don't think your going to find a ratio as it all depends on to many factors. eg. The price you pay, what your going to renovate, the amt and time of these renos, the selling prices in the street/area compared to what you are going to do to the house.
These will all vary from house to house/street to street and will come down to your knowledge of the area your targeting.
I have renovated a couple of houses now but only really looked at it from a profit side after the 2nd, before that I just liked to live in a nicer house. So here are my figure(spend figure are my best recollection), all on Brisbane northside, you try and sort them into a ratio
1st house: bought 10/91 @ $99k, sold 11/95 @ $117k, spent $7k
2nd: bought 12/96 @ $90k, sold 04/01 @129k, spent $11k
3rd: bought 04/01 @$172k, sold 08/02 @$257k spent $15-16k.
Present house is hard to say, I moved one onto a vacant block and it has really blown out on my figures, thank god the prices went thru the roof here in Bris as I am still ok with breakeven.
(though I won't be selling this one)