Over recent years, as a buyer’s agent, buying for both homebuyers and investors, I have noticed less inclination in Briefs to “buy a reno”, that is, a house or unit that may have great location, suitable land size, and with “good bones’ (according to the building inspector), but need an internal renovation.
One of the reasons may be the unknown cost of renovation, even if you don’t do a “BLOCK”, and do it yourself.
For a ”full reno” the scope of what is required can be assessed by an architect or builder, and we have the contacts.
For a cosmetic makeover, the cost of tradies can be worry, and an unknown.
Service Seeking have just published this table of tradie cost, that my help.
The following data is based on a sample of 52,000 quotes on the platform of eight popular tradies identified by ServiceSeeking.com.au. Some hourly rate, like builders and tilers have had big rises in the last 12 months. There can be regional variations as well.:
|Trade||Average hourly rate||Quarterly change||Yearly change|
|All trades average||$61.80||<1%||4%|
The best approach is to discuss your Brief with us, and if it’s “buy me a reno” we will have the scope and focus to get you the property you want, and the contact to get it renovated for occupancy by yourself or tenants. A bonus for the investor renovator is tax depreciation deductions on the cost of most improvements.