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Does the house need any Renovations
The price of some older homes that require renovation work are naturally much cheaper than those that don’t, but depending on your ability to do renovations yourself and your financial situation, they can sometimes not be the wisest way to go.
When you are evaluating a property it is important to keep in mind whether you would be happy with the property exactly the way it is or would you be looking to make changes.
If it is just the colour of the internal walls that you would like to change to suit your personality, then this is a project that possibly you and your partner could undertake in your spare time.
Keep in mind though it is not just as simple as getting the paint you need, a roller and splashing the new colour over what is already there. The walls have to be clean and under coated prior to the final colour being applied in most cases to get a professional looking
finish and have the paint last.
On the other hand if you are looking at professional painters to do the work for you this could run into quite a few thousand dollars. A young couple next door’s has just played $2,870 to have their house repainted inside and it is not by any means a large home. The quote for the outside of the house is it $5,175.
Now lets take a look at the Kitchen.
- Are you happy with the layout?,
- Do you like the colour of the cupboards, bench top?,
- Where they have the fridge and stove?.
If you are not happy. Can you live with it for a few years? A new Kitchen will cost you between $5,000 and $15,000.
Next the bathroom is it serviceable or can you see yourself making changes to it already. The average bathroom renovation takes between $1500 and $3000. If it only needs new tiles and floor coverings you should me able to manage this yourself
Naturally when renovating the more work you can do yourself the less it is going to cost you but one little tip, it will cost you a fortune if you have to later on get in a professional to fix up what you have already started.
If all the basics are serviceable and you know you can live with them for the next few years while reducing your Mortgage there are ways that you can brighten up your new home and add your own personal touches quite easily while on a budget, these ideas we will discuss in future articles.