Tag: real estate

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Architecture Before & Afters Design Real Renos RENO ADDICT Styling

Real reno: the $2.5 million transformation of one of Sydney’s grandest estates

When a renovation takes two years to complete and costs a whopping $2.5 million, you know you’re in for a pretty spectacular end result!

Home Facade

Restored by Sukari Design, the 1930s estate in Sydney’s Wahroonga features three dwellings: a main home, a gardener’s cottage and a pool house, alongside horse stables, a swimming pool and a tennis court! And the main home’s far from understated either, with six bedrooms, 10 bathrooms (yes, 10!), three kitchens and a theatre.

Before - Formal Lounge
Before – Formal Lounge
After - Formal Lounge
After – Formal Lounge

However, while the home is a testament to exemplary architecture, prior to its renovation it was a far cry from its glory days. Extremely worn and featuring some rather unsightly green carpets and yellow walls, the home had to be completely gutted. “It was very neglected however the beautiful curved walls, Juliette balconies and domed ceiling in the foyer showed that this home was once amazing and had the potential to be extremely special,” says Joumana Sukari, one half of Sukari Design. “So we completely gutted the home and several walls were removed to allow for an open plan kitchen/family room. Revitalizing the home was a key factor in the clients’ brief.”

Before - Kitchen
Before – Kitchen
After - Kitchen
After – Kitchen

With the new owners (who have chosen to remain anonymous) wanting to maintain the integrity and history of the estate, but with a more transitional design style, Joumana and her sister-in-law/co-owner Michelle Sukari created a grand and luxurious home, that they refer to as one of their all time favorite projects.

Before - Entrance Hall
Before – Entrance Hall
After - Entrance Hall
After – Entrance Hall

Yet that doesn’t mean it came easy, with the project seeing some nasty surprises and unexpected expenses pop up along the way. “When the old carpet was removed we discovered that the timber flooring, which we were hoping to retain, was infested with termites,” explains Joumana. “New hardwood timber flooring had to be installed, luckily we had budgeted for unexpected expenses.”

Before - Library
Before – Library
After - Library
After – Library

Challenges also came in the form of a rather testing brief, to create 10 different bathroom schemes! “Our clients wanted each bathroom to have its own individual look, so creating 10 schemes that complemented each other but were different was definitely the biggest challenge!”

Before - Main Bathroom
Before – Main Bathroom
After - Main Bathroom
After – Main Bathroom

While the home obviously went through quite the transformation, for Joumana the biggest change came in the form of the new kitchen and the decorative wall mouldings. “The location of the original kitchen and its deteriorated state devalued the home, however the new kitchen is fresh, elegant and sophisticated and has an abundance of natural light. Also the mouldings, architraves and skirting boards all made a huge difference. The walls seemed very bare prior to installing these.”

Before - Master Bedroom
Before – Master Bedroom
After - Master Bedroom
After – Master Bedroom

Undoubtedly a huge project, Joumana learnt some invaluable lessons during the renovation. “Make sure that every aspect of your renovation has been accurately budgeted for and allow for unexpected expenses (such as termites) to appear! Importing products from overseas and dealing with shipping companies, customs brokers and tax law is also a huge learning curve.”

But, when all is said and done, would she and Michelle do it again? “In a heartbeat!”

For more information.

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Architecture Design DIY RENO ADDICT

New renovation series, Reno Rumble, starts tonight!

Quick to fill the gap The Block’s left in our lives, new, super-charged renovation series, Reno Rumble begins tonight!

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From left to right: House Rules’ Carly and Leighton, The Block’s Kyal and Kara and House Rules’ Nick and Chris

Seeing reality renovators from The Block take on favourites from House Rules, each week the two competing shows will renovate two neighbouring homes (owned by everyday Aussies). The catch? They have just one week to complete the reno!

The Block Triple Threat's Ayden and Jess are back!
The Block Triple Threat’s Ayden and Jess are back!

Hosted by Scotty Cam, the renovations will be judged by interior design experts; with each week seeing one team crowned the winners and one couple (who received the lowest score on the losing team) being eliminated. The couple that wins the entire series will collect $100,000, half going to their chosen charity.

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From left to right: House Rules’ Jemma and Ben and The Block’s Michael and Carlene

Reno Rumble airs tonight at 7:30 on Channel 9. And we will have all the news, goss and updates here on Reno Addict. Watch this space!

Photography by Channel 9

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RENO ADDICT

How to save money by claiming tax deductions on furniture in a rental property

Often property investors rent out their property fully furnished. Depreciating furniture can add thousands of dollars to the owner’s depreciation claim.

The below table provides an example of the difference that claiming depreciation on a $16,000 furniture package could make to an investor who purchased a two-bedroom two-bathroom unit:

2014_TQ1 - Without and Without Furniture

It is important that a specialist quantity surveyor prepares a tax depreciation schedule for an investment property before the owner lodges their tax return. A quantity surveyor will carry out an inspection on the property to identify more plant and equipment items and apply depreciation legislation to maximise depreciation deductions for the owner.

BMT Tax Depreciation complete reports for over 10,000 accountant referrals each year, with reports showing an average of $5,000 to $10,000 as a first full year deduction.

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For further information on depreciation, property investors can visit BMT Tax Depreciation’s What is Depreciation page.

– Bradley Beer is the managing director of BMT Tax Depreciation. A depreciation expert with over 16 years experience in property depreciation and the construction industry.

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Design Outdoor & Exteriors RENO ADDICT

6 great upgrades to make your home more energy-efficient

Upgrading your home to be more energy-efficient is in your best interest. By adding solutions geared at conserving energy, you’ll not only be protecting the environment, you’ll be saving lots of money in the long run. In contrast to conventional homes, energy-efficient ones limit unnecessary energy consumption and greenhouse gas emissions, conserve energy and reduce the demand for non-renewable resources. All in all, it’s worth making your home energy-efficient! Here are six smart tips to help you do it.

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  1. Replace your windows

If your windows are old, consider replacing them with energy-efficient alternatives or improve their efficiency with weather-stripping and storm windows. In general, replacing windows just to save energy isn’t that cost-effective – one source claims that it saves you 7-to-24% off your heating or air-conditioning bills. That is, unless your windows are large and single-glazed. Otherwise, it’s good to consider energy-efficient options once you’re replacing your windows for other reasons as well – that’s when the change becomes cost-effective.

  1. Insulate your home

insulation

Proper insulation is key to saving energy. Without it, you risk letting out a lot of your heat during the cold winter months – and we all know that heating bills are high. Make sure to have good insulation – blown-in insulation for your walls or weather-stripping. Remember that the expertise of the contractor is more important than the insulating material you use – it’s the installation that matters most here.

  1. Think about solar panels

Solar panels are costly, but they’re a great investment. You can easily have them installed on your rooftop and enjoy reduced electricity bills by producing your own electricity. Even if the initial price seems quite high, solar panels are cost-effective. Still, they’re not such a popular solution in many regions of the world – but it’s very likely that this will change in the near future.

  1. Choose your appliances wisely

If you’re about to get some new appliances for your home, look for those with the HE logo. Certified appliances use less energy, and while they will cost you a bit more, they’re simply a smart investment. You’ll be running them very often, if not all day long, so expect to save on your electricity bills over time. Even when choosing energy-efficient appliances, it’s a good idea to limit their use. Avoid overusing your heater during winter, keep your thermostat at a certain level instead of changing it all the time and turn some appliances off when you’re not using them.

  1. Use compact fluorescent lamps (CFLs)

lightbulb

Instead of incandescence light bulbs, go for the energy-efficient alternatives. If you settle for the old style of light bulbs expect to use much more energy than you have to. Sure, the CFLs are more expensive, but in the end they’ll help you save money on your electricity bill. Also, they last 12 times longer than regular light bulbs.

  1. Revamp your garden

Smart landscaping can be of great help in making your home more energy-efficient. By planting trees, you’ll protect your home from intense sun during the summer and during winter, your trees will act as a smart remedy against cold winds, helping you to conserve all the heat generated in your home.

Making your home energy-efficient is simply worth it – you’ll protect the environment, reduce your carbon footprint and enjoy innovative energy solutions that will only add value to your property.

— Lori Gardner is an experienced property advisor at Performance Property where she helps customers find and purchase the home of their dreams. 

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RENO ADDICT The Block

Real estate agents share behind the scenes goss about Block auctions

Josh and Charlotte

Even for the most experienced real estate agent, selling a Block property is no walk in the park. First, you’re dealing with thousands of potential buyers traipsing through the property, rather than the usual tens or hundreds. Secondly, there’s the fact you have to market the home while the show’s still airing (sounds like a marketing nightmare to me!). And lastly, there’s the almighty challenge of having to sell a townhouse with the whole country watching! No pressure!

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Mark (left) and David

So we spoke to Josh and Charlotte’s real estate agents — listing agent Mark Konishi of hockingstuart South Yarra and auctioneer David Wood of hockingstuart Albert Park — to find out what goes on behind the scenes and how they’re going to avoid an auction disaster like last year’s.

Josh and Charlotte
Josh and Charlotte

“We weren’t involved with the Glasshouse series but feel that many buyers were perhaps thinking the apartments could have sold for more and as a result weren’t present on the day,” explains David. “It’s important that we do all we can to ensure all potential buyers are attending the auction of the apartment.”

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Alongside high buyer demand, both David and Mark think the property’s location, style and high quality fixtures, will see Josh and Charlotte come out on top this auction day. “From our experience in the South Yarra market, we know that there’s a strong appetite for townhouses in prestige locations,” says Mark. “Darling Street, in particular, is within proximity to the shops, public transport, the Yarra, the Botanic Gardens and many schools, as well as being an arm’s reach to the CBD. The quality of Charlotte and Josh’s apartment with its luxury fittings and furnishings will also put us in good stead to come out with a good result on the day.”

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As well as having many high-end fixtures, Josh and Charlotte’s townhouse also includes many other stand out features. “Being at the front of the building, the townhouse boasts fantastic street appeal and enjoys plenty of natural light,” explains Mark. “The electronic louvres on the facade allow the perfect amount of light streaming through. Plus, the spacious master bedroom has those exposed roof beams which buyers love, as well as a view of the courtyard. All in all, it’s a perfect low maintenance townhouse in a cracking location.”

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With this Block listing being David’s fourth (he won Fans vs Faves with Steve and Chantelle) and Mark’s second, they both agree that while there is a lot of fanfare, the whole selling process is quite similar to any other property. “Admittedly, it’s not every day that we sell a block of four townhouses very similar in structure in the one day,” says Mark. “We have thousands of buyers through the property, most of whom want to check out their favourite contestants’ townhouse and be a part of the movement. But with that said, 27 Darling Street follows a very similar marketing campaign to other properties on the market, from sourcing buyers and running an advertising campaign to an auction.”

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The Block goes to auction on 28 April, with the on air date yet to be released. Read up on everything Block here.

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RENO ADDICT

Seven ways to (really) save for a deposit

Whether you’re squirrelling money away for your first home or are a seasoned property shark, the process of saving for a deposit can be a thrill or a challenge… depending on how you tackle it! But the most effective techniques for building a rock solid deposit involve injecting a few crucial money-saving techniques into your everyday. Before you realise how effective the following tips are, they may have built you the perfect diving board to jump headfirst into the property market.

Photo credit: Rosewood
Photo credit: Rosewood

Tip 1: Have a smart goal

When setting yourself a savings goal, be realistic – it’s not going to happen overnight. Give yourself a timeframe to keep you on track, for example: “I’d like to save $50,000 in three years.” Doing this will allow you to analyse all your outgoings and deduct this from your income to give you an idea of what you should be aiming for – and what is realistic – to save each month.

Tip 2: Separate your needs from wants

When analysing your outgoings, be ruthless –are these needs or wants? You can’t survive without food or electricity, but do you really need to spend half your income on updating your wardrobe? Sometimes wants are borne from habit and there is a psychological connection between payday and treating yourself to new purchases. For example, celebrating payday with a visit to Westfield. These habits need to be reevaluated when you’re serious about saving for a property.

Tip 3: Learn how to snowball

So many people struggle to make the connection between knocking over debts and saving money. Snowballing is the art of paying off debts in order of their size, as hitting smaller commitments first will knock them off the to-do list while simultaneously eradicating any interest or further obligations you have to them.

Tip 4: Set up auto-savings

A separate savings account with automatic payments will allow you to directly debit some money from your everyday account each payday. No matter how big or small, they key thing here is that you’re saving some cash regularly and watching your home deposit dream get closer to reality.

Tip 5: Cut down on coffee

Before you get all panicky and up-in-arms, the important focus here is to minimise your cafe-bought intake, not completely go without your java. Simply giving up one coffee a day (assuming your coffee is $4) could save you $20 each working week which, over the course of 12 months, will add more than $1,000 to your savings. Bringing your lunch in from home just twice per week could net you more than $2,000 in savings per year.

Tip 6: Lock it away

Want to fast track your savings? Term deposits are a great way to avoid the temptation to dip into your savings. The best bit? As well as keeping your money locked away for a fixed period, some have high interest rates, so you’ll be making more money just for being smart with your savings!

Tip 7: Don’t go it alone

Do you have a friend who is also planning on saving for a deposit? Or are you saving to buy with a significant other? Use each other for motivation and make a pact to keep each other on track. For example, if you and your partner each commit to saving $100 a week toward your deposit, you’ll not only have a dedicated savings plan, but any amount you put aside will be matched by the other person. Using the above example of $100 per person per week could leave you close to $1,000 per month closer to your dream home.

The days of simply putting your pennies away and hoping for the best are long gone. If you want to call yourself a homeowner, follow these strategic tips and make it happen sooner.

— Bessie Hassan is the editor at finder.com.au, one of Australia’s largest comparison websites. She’s passionate about real estate, renovating, and helping Australians find better. 

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RENO ADDICT Shopping

Domain’s new Apple app helps you watch the market. Literally.

With the Apple Watch due to be released 24 April, Domain have transformed their award-winning iPhone app into the perfect tool for helping house hunters closely watch the property market (pardon the pun!).

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Providing easy access to the information you need throughout the buying, selling, renting and searching process, the Domain app will allow you to:

  • Search and view property information and photos with one touch
  • Receive instant notifications about properties that meet your criteria and when details or inspection times update
  • Organise properties as favourites and schedule inspections
  • Pick up where you left off with your iPhone to explore properties in more detail.

Domain’s Apple Watch app will be available to download free from the Apple App Store following the release of the watch.

For more information.

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Architecture Before & Afters Design DIY House Tours Real Renos RENO ADDICT

Real reno: hoarder’s home to open-plan modern living

When best friends Lana Taylor, Bonnie Hindmarsh and Erin Cayless tired of their corporate careers, they saw it as the perfect opportunity to go into business together.

Friends Bonnie, Lana and Erin made a $155,000 profit on this, their first renovation
Friends Bonnie, Lana and Erin made a $155,000 profit on this, their first renovation

Starting boutique renovations company, Three Birds Renovations, their first project — just finished a few short months ago – saw them take on a challenge so daunting, many veteran renovators would have run a mile!

Before: Master
Before: master bedroom
master after
After: master bedroom

“The house was in terrible condition,” explains Lana. “Every room was filled almost to the roof with rubbish. We even had to guess some of our measurements because we couldn’t get the tape measure across the room. It was extremely dark inside and the front yard was so overgrown that you couldn’t see the house from the street and school kids had to walk out onto the road to get past! One neighbour over the side fence even had the unfortunate view of the same bed sheet hanging on the Hills Hoist for 10 years. Almost daily we would have people honking their horns and stopping their cars to tell us how much they loved what we were doing. It was an unexpected perk!”

Before: Kitchen
Before: kitchen
kitchen after
After: kitchen

Knocking down almost every wall inside the Castle Hill home (in Sydney’s north-west), the end result saw an open-plan design that was light, breezy and modern. Transforming the three separate rooms of kitchen, living and dining into one large space, they also stole centimetres from neighbouring bedrooms to create a luxury master suite. “We knew it was important to create a luxury master suite so we stole space from each of the other bedrooms and the hallway to create a parents’ retreat with ensuite,” says Lana. “This meant moving some walls less than 30 centimetres (which sounds a bit silly) but we were committed to creating the right end result rather than going with the easier or cheaper option.”

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Before: lounge
lounge2 after
After: lounge
lounge after another shot
After: lounge

Taking just six weeks to renovate, every single item in the house was changed, except for the floors. “Underneath all that stuff the floors were original hardwood, so we decided to sand and stain them. They came up beautifully in the end. And through a stroke of good fortune, the roof was in great condition and was already the exact dark grey colour we wanted, so no update was needed there either.”

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Before: facade
After: facade
After: facade

Running the whole project themselves, Lana admits they weren’t on the tools too much! “Our intent is to always book tradies to do the work, but when the budget gets tight, it is tempting to put your hand up to do some of the painting or landscaping. In the end, we laid most of the turf (and when I say we I mean our husbands!).”

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Before: alfresco
After: alfresco
After: alfresco

Having originally bought the property for $808,500, renovating it for $90,000 and selling it 10 weeks later for $1,055,000, they made a gross profit of $155,000: not bad for a two-and-a-half-month turnover! Inspired by their success, they have now completed a second reno — also in Castle Hill — which has just gone on the market. It’s equally, if not more, gorgeous! Check it out here before it gets snapped up.

Follow the girls’ latest projects on Instagram.

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RENO ADDICT Shopping

realestateVIEW.com.au’s updated app: for anyone looking to buy, rent or sell

realestateVIEW.com.au’s newly upgraded mobile app offers heatmap technology to revolutionise the way property is found and sold.

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The technology allows users to visually explore median prices, weekly rent and monthly loan repayments for specific areas within different suburbs with a click of a button. They can then overlay these maps with up-to-date sales or auction results and mark nearby points of interest or amenities (i.e. schools, public transport, supermarkets), helping house hunters find their ideal location.

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Head of product and technology at realestateVIEW.com.au, Raymond Smit, believes the app offers a one-stop-shop for anyone looking to buy, rent or sell property and will quickly become the on-the-go companion for the weekend house hunt. “Our app goes beyond the traditional property search – house hunters now have access to local data helping them make an informed property decision on-the-go.”

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Other key features include suggested properties, real-time data on the latest sales and auction results, points of interest, open for inspection times and a new layout and visuals.

The free app is available on all iPhone and Android smartphones and can be downloaded here.

For more information.

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Outdoor & Exteriors RENO ADDICT

How to save money by claiming deductions on what’s outside

When it comes to claiming depreciation on investment properties, many investors are unaware of the deductions available on outdoor structures, fixtures and fittings.

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Items outside a building can add value to a property. Rather than ignoring the street appeal, investors can include items in the yard or outdoor area to help attract potential tenants. The investor can then maximise their deductions by claiming depreciation on the eligible items in the front yard, backyard and on the balconies of their properties.

Deductions can be claimed on these outdoor assets as either capital works allowance or plant and equipment depreciation.

Capital works allowance, also known as building write-off, is based on the historical cost of a structure, excluding the cost of plant and non-eligible items. Outdoor structures which qualify for the capital works allowance include:

BMT Tax Depreciation ~ Outdoor Appreciation Increases Depreciation ~ 09.12

Plant and equipment items, including removable or mechanical assets, are also eligible for depreciation deductions. Each plant and equipment item has an effective life set by the Australian Taxation Office.

The depreciation available on each item is calculated using the effective life. Some depreciable outdoor plant and equipment items commonly found outside a property include:

BMT Tax Depreciation ~ Outdoor Appreciation Increases Depreciation ~ 09.12 (2)

Assets outside a property can be worth thousands of dollars. Investors should take special notice when old assets including retaining walls, garden sheds and driveways are removed and replaced during a renovation. They may be entitled to claim 100% of the unclaimed value as a deduction. A specialist quantity surveyor is qualified to calculate values and construction costs of these items and can ensure that investors are not throwing dollars away.

— Bradley Beer is the managing director of BMT Tax Depreciation. A depreciation expert with over sixteen years experience in property depreciation and the construction industry.

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Competitions Expert Tips Interviews RENO ADDICT The Block

Greville Pabst says the next Block auctions will have much happier endings

With the intense time pressure, the late nights and the limited funds, I can’t be the only one who wonders how The Block’s contestants can actually create high-end properties. Especially when you add to the mix that this series they’re renovating in the wealthy suburb of South Yarra… well it truly makes me beg the question: are these townhouses even going to sell?!

Profile shots - Greville Pabst 004 - crop

But rather than speculate I decided to go straight to the source and chatted to one of The Block Triple Threat’s newest faces, buyer’s advocate Greville Pabst. “It was my perception at first that buyers may be apprehensive about the quality, but the contestants do go back and fix all the abnormalities. There are really two aspects to The Block, there’s the television reality aspect and then there’s the presentation for marketing and sale. The contestants have a certain amount of time to prepare for reveal but after the feedback is given, they fix any issues.”

frank, greville, nicole interiors addict
Greville, with buyer’s advocates Nicole and Frank

Greville also believes this series’ auctions will have happier endings than years past, thanks to the properties being so unique (four-level townhouses with double garages and cellars) and the involvement of himself and fellow buyer’s advocates Frank Valentic and Nicole Jacobs. “The contestants are really valuing our feedback and taking it on board. A classic example is in Josh and Charlotte’s bathroom, I walked in and said ‘Where’s the ventilation?’ and Josh immediately took it on board and said ‘Yes, I’m going to put it in!’.”

And Greville should be listened to! With 30 years in the property business, he is the CEO of WBP Property, one of Australia’s largest property valuation companies. He also frequents ABC Radio as a property expert on their Saturday Morning program and for the last eight years, has written a property column in Melbourne’s Herald Sun. Television, however, is a new realm for Greville, and he’s finding out all the tricks of the trade!

“What’s been really interesting is how much footage they take. It normally takes about five hours to shoot just one reveal! They film so much that at the end of the day, none of us know which part they’re going to use. So the fun thing is you get to see how they slice and dice that particular day. It’s been interesting watching it and so far, I’m really happy.”

[contextly_sidebar id=”NSuhGRySgSADHbF8ugjyOufuTd6k5rRO”]Greville is also enjoying the experience for the fact he gets to share his learnings with the public, believing he can help give buyers the right advice when it comes to making such a big investment. As after all, though many of The Block’s rooms are beautiful, one shouldn’t go buying a property based off cushions and pendants!

“I really liked being on the show as we’re giving a different perspective to the interior designer judges. They’re looking at the furnishings and all those other things, but as a buyer’s advocate — in most cases — when you buy a property, all those dressings aren’t included. So while we look at them and see they look nice, they really don’t come into play when we are making a buyer’s decision. Rather, it’s the floor plan, orientation, light, aspect, size and quality of renovation.”

Find all The Block latest here.

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Design DIY RENO ADDICT

Your how-to renovation guide from Block buyer’s advocate Greville Pabst

A well-executed renovation can add considerable value to your property when it comes time to sell it, but home renovations are not for the faint hearted. Renovating your home is a significant undertaking with many things to consider before you’ve even picked up the tools. That’s why we decided to create The WBP Renovator’s Guide to Property, to make all those tough decisions, easy!

Profile shots - Greville Pabst 004 - crop

Each property is unique and needs to be judged on its own merits, including its location, style and size. Taking these factors into consideration will help you decide where your money is best spent.

Researching your suburb and understanding the needs of the demographic of the area is critical to determine where to allocate your funds and maximise the value of your property. For example, residents of lower density outer suburbs will be influenced by different features to those living in higher density inner city areas.

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Our guide to renovating property lists increasing a property’s physical floor space by adding bedrooms, an additional bathroom or a modern kitchen as some of the surest ways to add value. These additions do come at an expense though, so buyers need to avoid overcapitalising — costs should not exceed the value added to the property.

Other features that add value to keep in mind are having manicured gardens and building a garage, all of which can add up to $100,000 to a property’s value.

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Before renovating, engage an architect for guidance, source quotes from a local builder and seek property advice to determine market value before and after the proposed renovation. Following these simple guidelines and planning ahead can help save you time and money and significantly maximise the value of your property.

WBP Property Group’s Renovator’s Guide to Property is available here.

— Greville Pabst is the chief executive of WBP Property Group and one of The Block’s new buyer’s advocates.

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Architecture Before & Afters Design Real Renos RENO ADDICT

Real reno: single fronted heritage home’s two-storey transformation

Approached by her fiancé’s parents to renovate their home, Trish Gabriel took on her biggest project to date, changing — or improving — every single element of the Albert Park property in Melbourne.

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Before
After
After

“This was a full structural renovation,” explains Trish. “Apart from the front facade and part of the existing roof — which due to the heritage listing were retained with cosmetic works — all internal and external material and structural elements are new.”

Before (Kitchen)
Before (kitchen)
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After

With an improved floor plan, the 1930s single-fronted Victorian dockworker’s home went from a two-bedroom, one-bathroom single-storey house, to a three-bedroom, two-bathroom double-story property. Blending Victorian architecture with modern features, the residence is open plan, maximising natural light through skylights and large windows.

“The rooms and the hallway at the front of the house have this Victorian feel with large cornices, decorative arches, ceiling roses, inviting architraves and skirting that frame each of the doors,” says Trish. “However, as you step down into the main space, all features become modern with shadow line cornices, a custom designed staircase made from powder coated metal and European oak and square set/plaster reveal skylight windows.”

Before (Living)
Before (living)
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After
After
After

With the renovation costing approximately $420,000, a large part of the budget went towards the new open plan living space and the second storey, additions Trish is very glad were included. “The biggest change has to be the second storey, which incorporates the master bedroom with integrated joinery, ensuite (with skylight window above the shower) and a large balcony with city glimpses.”

After (second story master bedroom)
After (second storey master bedroom)
After (ensuite)
After (ensuite)

Being involved in all stages of the renovation, from initial design concepts to the selection of fittings, fixtures and joinery, Trish took just over two years to complete the project, with actual construction lasting 11 months. With the property having been bought for $930,000 in 2012, it is now on the market with an estimated selling price of $1.65 million.

After (main bathroom)
After (main bathroom)

Working in the design industry for close to 10 years, this project marks Trish’s first renovation under her own business, design by t, where she aims to create beautiful homes with minimal impact on the environment.

Photography by Axiom Photography

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RENO ADDICT

How to stay cool at an auction: by The Block buyer’s advocate Nicole Jacobs

The Block Triple Threat buyer’s advocate Nicole Jacobs, shares her five top tips to buying at auction…

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Even as a seasoned professional, an auction brings butterflies to my stomach, and I love that feeling. It keeps me alert and ready for the auction. Harnessing this energy positively is one of your keys to a successful outcome.

1. Pre-auction homework 

Before the auction, you will need to have had the Contract of Sale looked at by a solicitor or conveyancer to make sure all questions have been answered. You will have your finance sorted (know your limit) and you will have done your homework on the area (recent sales of similar properties) and attended several auctions so you know the process.

2. Is it a referral or non-referral auction?

Know the difference, know the signs and ask the question. This is something you need to know.

A non-referral auction means the auctioneer will not break for a ‘quick chat with my vendors’. Once he/she has reached the vendor’s reserve price they will keep going until the last bid is offered, count it down three times and sell it under the hammer. If you were waiting for the half-time during this auction, you could be leaving without even putting your hand up.

A referral auction can play out two ways. The auctioneer will break when the bidding slows to a halt and ‘refer to their vendor/s’, come back and either declare the property ‘on the market’ or say ‘we are very close’ or something to that effect. They will continue and hope that the reserve price is met and keep going while the bidding keeps coming. Often, one of the agents assisting will go inside and come back out and give a nod of  ‘it’s on the market’ to the auctioneer and they will knock it down three times when the bidding has stopped.

If throughout either of these processes you are confused, don’t be afraid to ask the question ‘Is the property on the market?’. If nothing else, it will slow proceedings and allow you to think if the pace has been faster than you can calculate!

3. Stand in a prominent position where you can see the whole crowd and the auctioneer

Positioning yourself well at an auction is crucial. You need to see where the bids are coming from so you can watch their body language and you also need to be in clear view of the auctioneer.

Body language is an amazing human trait, especially at an auction. A couple that start to shake their heads or discuss whether they can go up another $1,000 has clearly not come to the auction with a firm limit and an auction strategy.

4. Bid and bid with confidence

An auction where no one bids is crazy. If the property passes in on a vendor bid, then a ‘behind the doors’ auction goes on and then you have no idea if there is actually another bidder at all.

If it is going to pass in, then let it pass in to you. You will then have the right to hear the vendor’s reserve price that you will either be happy to pay, or be able to negotiate for a good 15 minutes while everyone else is outside wishing they were you.

Every auction is different. Whether you come in at the start, halfway through or at the end, you need to bid with confidence. If you know your prices, then a strong first bid can often knock out half the competition right there and then. While many auctions have been won on a bid of just $1,000, it is often not the strongest tactic to employ, going up in $1,000 lots.

5. Don’t end on a round number

Try not to have a finish limit that is a round number. Sometimes this is because the bank or finance broker has said ‘you can go to $1,200,000’. If you have a limit of, for example $1,205,000, you may just be able to put in your additional $5,000 strong bid at the end and win the auction.

–Nicole Jacobs is a member of the buyers’ jury on The Block Triple Threat and director of Jacobs Buyers Advocates in Brighton, Melbourne. She has worked in real estate for more than 15 years.

 

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The Block

New woman on The Block: buyer’s advocate Nicole Jacobs

Meet Nicole Jacobs, the professional buyer’s advocate with over 15 years’ real estate experience who we first got to meet on last night’s episode of The Block Triple Threat.

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This season, a buyer’s jury consisting of Nicole, Greville Pabst and Frank Valentic will provide strategic recommendations from a buyer’s perspective regarding layout, finishes and market expectations.

“Our role on the show this season is vital for contestants,” says Nicole. “Throughout the 12 weeks, we are there to review each room from a commercial perspective and provide insight into market expectations in high-end South Yarra.” Nicole’s job is to look beyond the styling and décor choices deliberated over by judges Shaynna Blaze, Neale Whitaker and Darren Palmer. “If you take the furniture out, what are you left with? Hopefully a well laid out apartment finished to such a high standard that you could place any furniture in it and it will look amazing,” Nicole says.

The buyers advocates’ first judging session last night was interesting, with their views very different to those of the ‘real’ judges, particularly on the subject of Ayden and Jess’s separate toilet, which they raved about!

What Nicole thought of the bathrooms last night:

  • Charlotte and Josh: Liked the tiles. Not enough lighting for female buyers to do makeup. Finish really good. On track for a South Yarra buyer.
  • Tim and Anastasia: Floor tiles look rushed and not lined up. Quality of fixtures and fittings below par.
  • Ayden and Jess: Underfloor heating.  Separate toilet a very clever move, makes it like 1.5 bathrooms and opens up their market, setting them apart from the other apartments.
  • Dee and Darren: Feels high-end and luxury. Could have separated the toilet from the main bathroom.

[contextly_sidebar id=”PdF9EbnIu4K3yuLRwX0tqpd0IfmqBSis”]Channel Nine have been strategic in selecting buyers advocates who are specialists within their niche, so each brings a broad representation of investors to the auction. Nicole captures the higher end of the market and represents clients who often have very discreet transactions. “We have had a lot of fun throughout the series, but we found out early on that we all look for different attributes and as a consequence, we don’t always agree. One thing we do all agree on though is that the completed apartments are definitely not out of place in the South Yarra market.”

Her company, Jacobs Buyers Advocates in Brighton, has already taken VIP clients through The Block at 27 Darling Street and they’ve all provided positive feedback for contestants. “Our clients are predominantly owner occupiers, however the position, along with strong depreciation schedules and rental yields, have attracted many of our local (and international) investors.”

–Last night’s episode also saw the fellow contestants and buyers advocates rate the bathrooms with Dee and Darren coming out on top with 49 points and winning $5,000. Ayden and Jess came second, Charlotte and Josh third and Tim and Anastasia last.

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RENO ADDICT

Using a buyer’s agent: would you?

Buyer’s agents are becoming increasingly popular. After all, who wouldn’t want someone who speaks the language of inspections, appraisals, contracts, settlements and price negotiations to do your bidding?

Kristy - Agility Property reno addict

Kristy Smith, owner of new boutique buyer’s agency, Agility Property, does this and more, also providing related services such as interior design and property management. Believing buyers typically represent themselves with limited market knowledge — while sellers are represented by an agent — Kristy thinks it’s time for a level playing field.

“Hiring a buyer’s agent gives you a balance of power during research and negotiation,” explains Kristy. “You have the best information, knowledge and experience on hand.”

Kristy also plans to give this power to her clients through a new app set to launch in March. “Some buyers want to stay involved in the process but just need guidance. So the aim of the app is to simplify and enhance their experience, and it’s obviously available anywhere and anytime of day.”

A whopping 88% of property purchases were handled by a professional buyer’s agent in the US according to a 2013 study undertaken by American National Association of Realtors and according to Kirsty the trend will continue to rise in Australia too.

Find out more about Agility Property.

Would you use a buyer’s agent? Have you used one with great results? We’d love to hear your experience in the comments.

Categories
Architecture Bathrooms Before & Afters Design House Tours Kitchens Real Renos RENO ADDICT

Real reno: 5-bedroom waterfront Gold Coast home

“When I first saw the house I thought it was hideously ugly,” explains Hayley Little. “It was painted a depressing shade of brown and didn’t feel warm or inviting. But the view was magnificent. We look out onto the Gold Coast Broadwater.”

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Having already undertaken six renovations with her builder husband Terry, Hayley instantly had some ideas on how to freshen up the property; from the big changes of swapping the roof (from curved to pitched) and adding a media room, fifth bedroom and ensuite to the simpler updates of painting inside and out and updating the kitchen. “It was a structural renovation, we didn’t change the existing floorplan very much, just added a few rooms. We did lots of smaller changes like removing the old staircase, re-carpeting, pushing the garage out, renovating two of the bathrooms and laundry, adding some benchtop and storage space to the kitchen and changing the door hardware, tapware and splashback, enclosing the balcony with glass louvres and more!”

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Taking around a year to complete, Hayley marks the paint job as the easiest and most effective update. That, partnered with the changed roofline and the new white cedar shutters throughout the house are her favourite changes to the property. “From the outside, the biggest change would definitely be changing the roofline. Inside I think the paint and new white cedar shutters made a huge difference to the overall vibe of the house.”

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In contrast, Hayley says the hardest job was just working with the parts of the house she didn’t like and the fact she had a budget to stick to! “The hardest thing was working with what was already there. It is so much easier to start from scratch. I also found the budget hard to work within! My husband did so much of the work himself though, so obviously we didn’t pay for labour. But we ended up spending upwards of $250,000.”

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It also wouldn’t be a home reno if there weren’t some unexpected issues to deal with and Hayley had her fair share! “We went on a holiday to the USA during the roof removal, and then when we came home we had to stay at a hotel for a couple of months. We were hoping to move back in but we hadn’t anticipated the weather, it rained constantly for weeks and threw out the timeline dramatically.”

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With Hayley and Terry owning their own building business Caribbean Contractors, they have been renovating together since meeting in 1995, a partnership that they find incredibly rewarding. “We work well together as we both know each other’s strengths and we both know our roles in renovating a house. Basically, I decide on the designs and colours and my husband makes it work structurally and within the budget. It works for us.”

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Expert Tips Interviews

3 real estate selling tips with Andrew Winter

Yesterday, we interviewed Selling Houses Australia host Andrew Winter about the upcoming new series on the LifeStyle Channel. Today, he shares three things to bear in mind when selling your home…

1. Don’t neglect to see your home as the overall package. Units and townhouses are increasingly part of the landscape and they all have common areas. If they’re scruffy, do something about it! If there’s a scuffed wall, ask the body corporate what the paint colour is and paint it yourself.

2. Don’t automatically assume you have to do a makeover prior to sale. You do one because you want to get the top price, but if the market’s bubbling over already, you can get away with more (or doing less in this case!). Be careful not to overcapitalise.

3. Don’t get too wrapped up in the agent’s commission. As a former real estate agent I feel I can comment on this one. I do feel, that overall and in most parts of Australia, agents’ commissions are pretty fair. The problem is when you get to really expensive homes in places like Sydney and the agent’s commission becomes $30,000, and once you add stamp duty to that for the next purchase, you’re looking at $80,000 just to move up the road.  Then the agent who sells the $400,000 home gets $10,000 and can you really argue that it’s a third of the work? So I do think it is fair to try to negotiate on some of the really big commissions.

Watch Andrew on the new series of Selling Houses Australia on the LifeStyle Channel from Wednesday 4 February 2015.