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Fifth of Aussie renovators have no contingency plan

One in five Australian renovators set aside no money at all as a contingency. The alarming statistic, discovered through a recent survey conducted by jobs website ServiceSeeking.com.au, could dramatically influence the success of home renovations. “An accurate and extensive budget, with at least 5 per cent contingency, will give your renovation the...
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WA paint drop-offs announced

Renovators in Western Australia can dispose of waste paint and packaging responsibly at the following collection events: City of Stirling November 19, 2016, 8am-12pm Council car park at 25 Cedric Street, Balcatta. City of Wanneroo December 3, 2016, 8am-12pm Operations Depot front car park, 1204 Wanneroo Road, Ashby. City of Rockingham December 10, ...
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Reno risks: Too many don’t insure their renovation

People renovating their properties are taking big financial risks by not putting a contract in place according to new research from ServiceSeeking.com.au. Of those who have renovated in the past, 45 per cent failed to sign a contract with their builder. A further 72 per cent didn’t bother to arrange insurance to cover the upgrade of their valuable ...
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Colour blocking can make a splash

Over the years fashion runways have been sprinkled with the colour blocking and now this striking trend has joined home styling. As the flowers continue bloom, so too should the walls, highlighting features and creating an impact in a room. Justine Stedman, director and principal stylist at Vault Interiors, has some top tips for effective colour bl...
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Ask Jane

By JANE SLACK-SMITH Steven D asks: I will be putting some units on the market to sell in about two months. I’ve commissioned a valuation report, with an A1 result. The problem I have that’s causing confusion is that I want to use the valuation report whilst selling the property, but I’m not sure whether its best kept out of the selling process or i...
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From the API vault: We made an extra $120,000+ in 7 weeks!’

A screwdriver and a game-changing chat with a selling agent contributed to John Dimakopoulos and Jane Sizeland’s six-figure equity gain from a single investment last year. Expert buying and the seven-week renovation of a down-in-the-mouth Victorian house in Yarraville in Melbourne’s inner west would earn the pair of public servants more than $120,0...
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Don’t get caught out with risky renovations

Whether you’re renovating and flipping, renovating an investment property or refreshing your own home, it’s always satisfying to see your beautifully finished product. But Master Builders warns there’s serious potential for exposure to asbestos from DIY renovations, with Master Builders training and licensing manager Adam Profke describing asbestos...
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How to stay ahead of the competition

by Cherie Barber Recalling my early days of buying at auction still gives me sweaty palms. The adrenaline would be pumping, and I’d have that unsettling feeling of anxiety, mixed with a tinge of excitement that I might actually snap up a bargain. These days, I’m a pretty seasoned buyer and rarely get nervous, mainly because I approach any property ...
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A $173,000 equity gain in one year

By Shane McNally When Paul Bouma found a property at Lilydale in Melbourne, complete with a three-bedroom home, plans and permits for subdivision and enough land to make it happen, he didn’t have to think twice about buying it. Sure, there were a range of issues to consider, such as making the subdivision a reality and renovating the old house, but...
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Small projects, big profits

By Dinah Lewis Boucher Thinking big never hurt nobody. All the same, you probably shouldn’t dive head first into that property project with zero experience or guidance. While you may have the big picture tucked away safely somewhere, starting small in property is generally the best plan of attack. And when it comes to property projects, what better...
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The non-reno reno

Renovating isn’t just about painting, and renewing, and new kitchens. Renovating’s also about buying the right property at the right price, conducting heaps of research and analysing the target market and the best strategy. BY JUSTIN ESLICK As a prime example, one of our clients bought a cracking renovator at a great price. It was also zoned as a d...
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Queensland renovations hit historic high

Queenslanders are renovating in record numbers, up 13.2 per cent during the past year, according to Master Builders deputy executive director Paul Bidwell. In monetary terms, Brisbane renovators spent more than a billion dollars on improving their homes from 2014 to 2015; the Sunshine Coast paid $120 million; and Rockhampton $95.9 million. Bidwell ...
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Worst house in best street

By Heidi Davoren A dated beachside home, overgrown with foliage and in dire need of some TLC became a labour of love for long-time property investors Joachim Matthews, 35, and his wife Kerry, 28, who saw great investment potential in the neglected Coffs Harbour property. The couple, both surfers, fell in love with the property’s close proximity to ...
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Five Melbourne renovation suburbs to watch

Point Cook, 3030 (houses) Point Cook is a growing residential suburb made up of various housing estates, located approximately 27 kilometres southwest of the Melbourne CBD. The town sits on the coast of Port Phillip and has a large coastal park. It’s well serviced with commercial precincts in the north of the suburb, and nearby Werribee is also wel...
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Ask Jane

I am continually asked questions regarding property investment and profiting from renovation and I’d like to share some of those questions – and my answers – with you from time to time. BY JANE SLACK-SMITH This month, Anna had a quandary that she needed help to solve… Anna asks: “I’m in the process of looking at renovating a specific property in No...
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Budget-busting reno ideas

Walk into one of those flash bathroom showrooms and it’s easy to walk out several thousand dollars poorer. Designer baths, Italian fittings, sleek basins… they can cost a bomb. But what if I told you you could get the same look for a fraction of the price? By CHERIE BARBER Frugal renovators will always find the budget shortcuts that don’t compromis...
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Renovations activity grew again in 2015

The Housing Industry Association (HIA) has released the latest edition of its Renovations Roundup report, which offers a comprehensive quarterly analysis of the home renovations market in each of the eight states and territories, as well as outlining forecasts for future renovations activity. Renovations Roundup also provides results of the HIA Ren...
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Renovation riches – Russel and Heather Berndt

Russell and Heather Berndt Project: West Preston, Vic Purchase price: $640,000 Renovation cost: $8300 End valuation: $710,000 Change in value: $61,700 Renovation time: 16 days BY KIERAN CLAIR “It was terrible. It was absolutely horrible and I thought, ‘Why did you bring me to this house’?” This was Russell Berndt’s first thought when he pulled up i...
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Five Sydney renovations suburbs to watch

Rozelle – Houses Rozelle is located on a peninsula, approximately five kilometres west of the Sydney CBD, between Balmain in the northeast and Lilyfield in the southwest. Balmain and Rozelle in particular have a great village feel and sense of community. The main street in Rozelle has many boutique shops and cafes, a weekly flea market, and it’s a ...
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Eight great renovation suburbs in the sub-$500,000 club

In the April issue of API magazine, our cover story asks experts around the country to reveal their pick suburbs for sub-$500,000 investors. They came up with 21 locations offering a range of properties with terrific upside. BY KIERAN CLAIR Among the number were addresses in which buying a renovation project allowed you to stay within a reasonable ...
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