investor-q-a

Stop renovation profits going down the toilet

By Staff Reporter

While many experts warn against several larger changes, they may be worth the consideration. In fact, one drastic change saw Renovating for Profit's Cherie Barber making a substantial return.

Ms Barber had great success going out of the norm and moving the toilet from one side of the room to another.

The change of plumbing cost her $350 and, most importantly, allowed her to have space to put a bigger vanity in.

“It added so much more value,” she says of the decision.

“It’s a cost to do it, but it all comes down on the return in investment. I know that by moving that plumbing line, which took just a couple of hours, I’ve added at least $2,000 to $3,000 in the bathroom.

“This was worth it because the owner of that property had a tiny pedestal basin and no storage in her bathroom. I was able by moving that toilet to fit a double vanity into the bathroom with underneath storage.”

Investors should always consider the end result and weigh up the costs.

Taking a good look at the floor plan and estimating the space available, and the final look and potentail added value, are crucial first steps.

Top Tips for those renovating a bathroom on a shoestring:

+ Aim for ‘Bigger, Better and Brighter’, but remember that less is more

+ Aim for shiny tiles on the walls, for high perceived value, but matt or textured tiles on the floor to avoid slip for safety

+ Look to tile factories and online shopping outlets, rather than retail tile show rooms, as the price savings can be huge

+ Consider the demographics that will be living in the property and aim to cater to their storage needs

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