RENOVATING FOR PROFIT HOUSE RENOVATION - DURAL

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1 RENOVATING FOR PROFIT HOUSE RENOVATION - DURAL Homeowner Brian has been the proud owner of a large residential home in Dural in Sydney s Western fringe for the last 20 years. Built in 2000 and featuring 5 bedrooms over a large 200 square metre footprint, his home has been meticulously maintained but not renovated, since it was built. As a large family home and with Brian the only occupant within it, he s decided it s time to sell, downsize and move closer to the city, into a much smaller home. However, his outdated interiors will make it difficult for Brian to achieve top dollar for his home, and limit the number of buyers willing to make an offer. Not knowing anything about interior design, construction and how to manage the whole process, Brian calls on The Living Room for Cherie Barber s expertise to turn his dated home into a luxury abode on a budget.

2 Before Lounge room After Lounge room After photos

3 Before After

4 KEY JOBS Cherie s renovation strategy was to cosmetically renovate the whole of the house internally (no external works required). Further, due to the higher resale potential, Chere s strategic plan was to visually present the property to a luxurious standard on a budget (of less than half of what you normally should spend). The scope of works included: Remove existing tiled floor & replace with new tiled marble look floor tiles. Install new kitchen doors, benchtops & new kitchen appliances. Internal painting throughout including feature walls Install built-in wardrobe to bedroom 3. Install new lighting & ceiling fans throughout the property. Install new window furnishings (blinds & curtains). Cosmetically transform 2 bathrooms & laundry with specialty paints, new benchtops & fixtures. Square off 2 x non-structural arched walls.

5 FINANCIALS Property Value (Before Renovation): $1,400,000 Renovation Spend Total: $ 62,909 Renovation Timeframe: 9 days Property Breakeven Point: $1,462,909 Property Sold Price: $1,600,000 Uplift In Value: $ 200,000 Net Profit Margin (After Reno Costs): $ 137,091 Please Note: No capital gains tax will be payable as it s the homeowners primary place of residence. Owner will incur approximately $35,000 in agent s commission, marketing costs & styling costs to sell his property. LABOUR COSTS Amount Carpentry & Building Labour (Across All Rooms) $14, Tiling Labour (Whole House) $13, Plumbing Labour (Across Kitchens & Bathrooms) $1, Electrical Labour (Across Whole house) $1, Shower Screen & Wardrobe Installation $1, Construction Labourers $1, Painting Labour $7, Sub- Total: $41, MATERIAL COSTS Amount Floor Tiles $4, Carpet for Bedrooms (including installation) $3, Kitchen & Bathroom Cabinetry Panels $2, Blinds $1, Curtains $1, Paint (Received Free but normal value approx. $1,300) $1, Skip Bins x 2 $1, All other Miscellaneous Fixtures, Fittings & Hardware (All From Bunnings) $5, Sub- Total: $21, TOTAL RENOVATION SPEND: $62,909.00

6 KEY PRODUCTS PENDANT LIGHTING Brilliant 240 Volt 38cm Manchester Pendant Bunnings Code: Supplier: Bunnings FLOOR TILES Marble Look Floor Tiles Style No: Mamo Grigio Polished Gloss Floor Tile Size: 600mm x 600mm Supplier: Royal Tiles Ph: (02) Can ship nationally KITCHEN CABINETRY Brand: Laminex Colour: New Graphite Type: Natural Finish - Laminex no 486 Made by: Tim Trad Kitchens Ph: (0243)

7 KITCHEN BENCHTOPS Kaboodle Kitchen Cabinetry Style: Vanilla Cream Supplier: Bunnings FIRE PLACE Bio Ethanol Stainless Steel & Glass Model No: Chicago with White Trim Supplier: Designer Fire Ph: (03) CURTAINS Style: Salvadore Supplier: Curtain Wonderland

8 SHOWER SCREEN Made to Order Supplier: Sydney Shower Screens & Wardrobes Phone: BLINDS Made to Order Style: 50mm White Timber Venetians Supplier: Blinds on the Net Ph: Also please note that Bunnings offer a service where they can cut their standard blinds to a custom size for you. TILE & LAMINATE PRIMER FOR BATHROOMS White Knight Tile & Laminate Primer Supplier: Bunnings TILE PAINT FOR BATHROOM TILES White Knight Tile Paint Colour: White Supplier: Bunnings

9 PAINT COLOUR SCHEMES TAUBMANS PAINT USED INTERIOR WALLS: Taubmans Easycoat Tundra Mist Half Strength (Low Sheen) INTERIOR FEATURE WALLS: Taubmans Easycoat - Grey Moggy Quarter Strength (Low Sheen) INTERNAL CEILINGS: INTERNAL TRIMS: FRONT DOOR: Taubmans Easycoat Ceiling White (Flat Finish) Taubmans Crisp White (High Gloss, Oil Based Enamel) Taubmans Oil Shale (Low Sheen, Oil Based Enamel) For more information visit: LABOUR & TRADES PEOPLE This renovation was conducted over 9 days by a team of approximately 15 people (as required) which included: Cherie Barber, Carpenters Mick, Paul & Luke, Tilers Fred & Fouzi, Plumber Chris, Electricians Dylan & Dave, 3 painters, Jeneane & Natalie from Renovating For Profit and the home owner Brian.

10 WEBLINKS For further information on the materials and products used in this renovation, visit the following websites: All general hardware items for this renovation were purchased from Bunnings including timber, plasterboard, electrical downlights and numerous other items

11 PROPERTY STYLING This property was beautifully styled by: Styling Spaces Melbourne Contact: Anna Phone: Website: Normal retail value of this property styling is approximately $7,100 for a 6-week rental period. This was a large family house with a substantial amount of furniture. Property styling kindly supplied free by Styling Spaces for the purposes of TV filming. For any property owners in Melbourne who require property styling for your home (when selling), please don t hesitate to contact Anna. Anna was personally hand-picked by Cherie Barber who believes she is one of the most talented property stylists in Australia.

12 ABOUT CHERIE BARBER Cherie Barber is a widely respected professional renovator, Australian & international TV renovator, renovation educator, highly sought after public speaker, author & a mum to 11-year-old, Milan. In 2001, Cherie threw in her full-time marketing job at the end of her first renovation, which saw her earn more money renovating on the weekends rather than her full-time employment. In 2009, she established Renovating For Profit, a company that offers a complete renovation system that teaches everyday people, how to do quick cosmetic renovations for a profit. She now juggles renovating with her national public speaking, business & media commitments and believes once you have the right knowledge, anyone can do it! Cherie Barber: Renovating For Profit Phone: (02)