5 ways to finance your renovation
Renovating your investment property can boost its overall worth. Here are different ways to finance your latest property...
When it’s time to fix or renovate a property to give it a boost to its profitability, every dollar counts. Not every suburb is made equal however, as there are some suburbs that are paying a lot more than others per hour.
Investors whose properties are based in the Inner City, Eastern Suburbs and the North Shore have to pay up to 49 per cent more than those in the south and west, according to ServiceSeeking.
Data collected from 40,000 quotes reveals those asking for tradies in the Eastern Suburbs, Inner West and North Shore pay on average $72.71 an hour for plumbers, carpenters, painters and electricians, with the latter ranging between $61.24 to $72.71.
Meanwhile, those in the Shire would be able to find a tradie between $50.74 to $57.88.
The reasoning for these price discrepancies, according to Jeremy Levitt, CEO of ServiceSeeking, said the more expensive areas of Sydney have higher costs due to the perceived notion that people who live in these areas have more money to pay.
“In addition to this, these suburbs generally have a higher demand for renovation services,” he said.
“While overall, the data suggests that tradies in the East and North are more likely to charge higher rates, a housing construction boom in the Outer West has driven rates in suburbs, including Liverpool and Wetherill Park.
“Renovators need to be sure to compare quotes and prices from numerous tradies to make sure they don’t end up overpaying.”
The most and least expensive suburb for tradies, according to ServiceSeeking, are: