I have a lot with 17.5m frontage around 580-615 m2 area. Is it good to build a wider layout (i,e leaving more backyard) or general lengthy layout with more space on the left/right side ? Which would be good for rental/resale?
Is it good to have a 2 additional living space (media and kids area) by reducing a bit for 3 bedrooms or good to have spacious bedrooms with 1 living space ? It has to be good from rental perspective
Type of build for Investment
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wide is better
what type of rental customers you expect to get (depending upon the area)? - if good school district, family oriented locality then living spaces + 3 bed should do good.
what type of rental customers you expect to get (depending upon the area)? - if good school district, family oriented locality then living spaces + 3 bed should do good.
Purely for rental sake go minimum of 4 beds 2 living. As far as wide or long, for rental doesn’t really matter, but I’d be choosing one over the other depending on the aspect re solar gain. So if north is to the rear I’d build wide, but if north is to either side I’d build long.
Also, for rental don’t be upgrading anything, go the minimum fittings, floor coverings, blinds etc. When the time comes to sell you can spend some money replacing all those and repainting, tenants don’t need fancy taps or stone benches in the laundry etc.
Also, for rental don’t be upgrading anything, go the minimum fittings, floor coverings, blinds etc. When the time comes to sell you can spend some money replacing all those and repainting, tenants don’t need fancy taps or stone benches in the laundry etc.
Thanks much for those valuable suggestions.
Purely for rental sake go minimum of 4 beds 2 living. As far as wide or long, for rental doesn’t really matter, but I’d be choosing one over the other depending on the aspect re solar gain. So if north is to the rear I’d build wide, but if north is to either side I’d build long.
It is south facing lot, means we can build wider and give more to the backyard. Is thr any points to consider to give space for boat or trailer for tenants?
wide is better
what type of rental customers you expect to get (depending upon the area)? - if good school district, family oriented locality then living spaces + 3 bed should do good.
what type of rental customers you expect to get (depending upon the area)? - if good school district, family oriented locality then living spaces + 3 bed should do good.
Thanks much. It helps
I was a tenant for many years before we built our first home last year. We rent for almost 24yrs & our last place we lived in the rental for 8yrs. So I was that tenant you are trying to target.
Having side yards is not important, the size of the backyard is & we never had children but I like to have a decent size backyard. It makes you feel like you are not living so close to your neighbours.
When I got married we always rented 4 bdm places only when I was single & lived on my own did I rent smaller places.
If you can do the minimum size Bdm & fit in a small media room or small rumpus it’s worth doing for tenants with family or for resale.
Yes I agree with gillybean about not spending to much on up grades if you are going to hold onto the property for 10-15yrs before you sell it. Usually that’s the time to Reno. If it’s going to be shorter then just do a couple of things that will make it nice & different from every other rental. Our landlord did not want us to leave because we looked after his house because it was still my home. I would not look for boring looking properties I would look for something that was a bit nicer then the rest...
Having side yards is not important, the size of the backyard is & we never had children but I like to have a decent size backyard. It makes you feel like you are not living so close to your neighbours.
When I got married we always rented 4 bdm places only when I was single & lived on my own did I rent smaller places.
If you can do the minimum size Bdm & fit in a small media room or small rumpus it’s worth doing for tenants with family or for resale.
Yes I agree with gillybean about not spending to much on up grades if you are going to hold onto the property for 10-15yrs before you sell it. Usually that’s the time to Reno. If it’s going to be shorter then just do a couple of things that will make it nice & different from every other rental. Our landlord did not want us to leave because we looked after his house because it was still my home. I would not look for boring looking properties I would look for something that was a bit nicer then the rest...
I was a tenant for many years before we built our first home last year. We rent for almost 24yrs & our last place we lived in the rental for 8yrs. So I was that tenant you are trying to target.
Having side yards is not important, the size of the backyard is & we never had children but I like to have a decent size backyard. It makes you feel like you are not living so close to your neighbours.
When I got married we always rented 4 bdm places only when I was single & lived on my own did I rent smaller places.
If you can do the minimum size Bdm & fit in a small media room or small rumpus it’s worth doing for tenants with family or for resale.
Yes I agree with gillybean about not spending to much on up grades if you are going to hold onto the property for 10-15yrs before you sell it. Usually that’s the time to Reno. If it’s going to be shorter then just do a couple of things that will make it nice & different from every other rental. Our landlord did not want us to leave because we looked after his house because it was still my home. I would not look for boring looking properties I would look for something that was a bit nicer then the rest...
Having side yards is not important, the size of the backyard is & we never had children but I like to have a decent size backyard. It makes you feel like you are not living so close to your neighbours.
When I got married we always rented 4 bdm places only when I was single & lived on my own did I rent smaller places.
If you can do the minimum size Bdm & fit in a small media room or small rumpus it’s worth doing for tenants with family or for resale.
Yes I agree with gillybean about not spending to much on up grades if you are going to hold onto the property for 10-15yrs before you sell it. Usually that’s the time to Reno. If it’s going to be shorter then just do a couple of things that will make it nice & different from every other rental. Our landlord did not want us to leave because we looked after his house because it was still my home. I would not look for boring looking properties I would look for something that was a bit nicer then the rest...
That's great to hear.
Also, for rental don’t be upgrading anything, go the minimum fittings, floor coverings, blinds etc. When the time comes to sell you can spend some money replacing all those and repainting, tenants don’t need fancy taps or stone benches in the laundry etc.
Few more points to get some thoughts from you.
1) Do I need to increase ceiling height as all builders provide standard height as 4.45? Will it add any benefit for rent/resale?
2) Few builders provide package including landscaping and fencing with higher price and few exclude that? Is it worth covering that in the tender , so that mortgage takes care of that or easy to take care of our own? How much that would save?
3) Ducted vs Split A/C and Gas vs Electric cooktop ?
Also, for rental don’t be upgrading anything, go the minimum fittings, floor coverings, blinds etc. When the time comes to sell you can spend some money replacing all those and repainting, tenants don’t need fancy taps or stone benches in the laundry etc.
Few more points to get some thoughts from you.
1) Do I need to increase ceiling height as all builders provide standard height as 4.45? Will it add any benefit for rent/resale?
2) Few builders provide package including landscaping and fencing with higher price and few exclude that? Is it worth covering that in the tender , so that mortgage takes care of that or easy to take care of our own? How much that would save?
3) Ducted vs Split A/C and Gas vs Electric cooktop ?
1. Ceiling height, maybe helpful during resale but not for a tenant. Personal I would put the money for that somewhere else. Nicer bathrooms or kitchen it will help both rental & resale.
2. Landscaping/fencing. We took out landscaping & we already had the fences up by the estate. I am a gardener & love to pot around the garden. We have been in for 9 months & we are still doing the yard. Yes we have saved some money doing it ourselves but we are so busy every time we have days off doing things we took out of our contract to do ourselves. The only thing we are kicking ourselves over is the outdoor stairs. Our builder put it in the contract for $2000 & we took it out. We have since had quotes from $10,000.00-$20,000.00 we don’t have that. We we are doing it ourselves for $7000.00
3. Ducted or split AC, is the house going to be in a good area? If you do split I would do 2 split systems. On in the kitchen/living/dining area & the other in the master bedroom. I would weigh up the cost & the area/suburb to see if it’s worth the extra for ducted. I personally love ducted we put ducted in our house but we live in Queensland & our house has fantastic views so the area is a bit of a nicer area so for us it was worth it. I also as a tenant look for properties that had ducted. But you have to way up if it is worth spending the money. Go to a couple of real estate agents that do rentals in the area & ask then what their clients are looking for in a rental.
Gas/electric gas wins hands down all the time with me. I am Greek so I do a lot of cooking & when we built a built a beautiful big kitchen. I was going to put gas in until I found induction. What a amazing invention. If you can’t afford a 4 burner induction cooktop then do gas
Also, for rental don’t be upgrading anything, go the minimum fittings, floor coverings, blinds etc. When the time comes to sell you can spend some money replacing all those and repainting, tenants don’t need fancy taps or stone benches in the laundry etc.
Few more points to get some thoughts from you.
1) Do I need to increase ceiling height as all builders provide standard height as 4.45? Will it add any benefit for rent/resale?
2) Few builders provide package including landscaping and fencing with higher price and few exclude that? Is it worth covering that in the tender , so that mortgage takes care of that or easy to take care of our own? How much that would save?
3) Ducted vs Split A/C and Gas vs Electric cooktop ?
1. Ceiling height, maybe helpful during resale but not for a tenant. Personal I would put the money for that somewhere else. Nicer bathrooms or kitchen it will help both rental & resale.
2. Landscaping/fencing. We took out landscaping & we already had the fences up by the estate. I am a gardener & love to pot around the garden. We have been in for 9 months & we are still doing the yard. Yes we have saved some money doing it ourselves but we are so busy every time we have days off doing things we took out of our contract to do ourselves. The only thing we are kicking ourselves over is the outdoor stairs. Our builder put it in the contract for $2000 & we took it out. We have since had quotes from $10,000.00-$20,000.00 we don’t have that. We we are doing it ourselves for $7000.00
Because it’s a investment property & Unless you are a green thumb & very handy with building fences. I would get the landscaping/fencing included & then you can add to the landscape/fencing later on.
3. Ducted or split AC, is the house going to be in a good area? If you do split I would do 2 split systems. On in the kitchen/living/dining area & the other in the master bedroom. I would weigh up the cost & the area/suburb to see if it’s worth the extra for ducted. I personally love ducted we put ducted in our house but we live in Queensland & our house has fantastic views so the area is a bit of a nicer area so for us it was worth it. I also as a tenant look for properties that had ducted. But you have to way up if it is worth spending the money. Go to a couple of real estate agents that do rentals in the area & ask then what their clients are looking for in a rental.
Gas/electric gas wins hands down all the time with me. I am Greek so I do a lot of cooking & when we built a built a beautiful big kitchen. I was going to put gas in until I found induction. What a amazing invention. If you can’t afford a 4 burner induction cooktop then do gas
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