PROPERTY MAKEOVER CASE STUDY: MITTAGONG THREE

PROPERTY MAKEOVER CASE STUDY: MITTAGONG THREE


 


ABOUT THIS PROJECT


 

THE OUTSIDE STORY

This is one of the most exciting investor alerts ever!
This home was a typical 20 year old 3 bedroom + 1 bathroom.  The bathroom and laundry areas were original and the kitchen had been updated about 10 years ago.  The exciting thing about this home was the amazing potential to add a huge deck and of course increase the feeling of the living space to double the size!
Not only that, the property had two driveways and an incredible amount of space at the rear, all with level access. So we got stuck into this and built the granny flat ensuring the orientation of the flat was opposite to the home.  We managed to give the flat off street parking, a small level yard and complete privacy with the green wall of hedge. To maintain complete privacy and living/garden areas of their own with minimal impact.

 

THE INSIDE STORY

This was an entry level priced home, with such amazing opportunity for this investor, they jumped on it straight away.  The owners moved into the home and got cracking with approvals for the flat immediately.  Done through the state legislation, this was able to be drawn and approved within weeks, allowing building and occupancy to happen as soon as possible.  The owner was looking to increase cashflow, which certainly happened with the flat straight away.  Value for the home has been chipped away at over the last year or so, by adding the deck and renovating the wet areas.  The yard has been upgraded with the landscaping team and the bedrooms were made far more comfortable with lovely window furnishings, carpet, wardrobe internals and a full paint.
The house will also be leased soon now with a $100 per week rental increase, She’s happy!