Melbourne man who has renovated 12 properties shares his easy trick for including worth

Frank Triantafyllou has renovated near a dozen properties he’s lived in or invested in.

And in each occasion it’s a lick of paint that has been the simplest means so as to add worth.

For $5000 on a two-bedroom unit, or about $10,000 for a three-bedroom home, he stated most individuals would get double that again when the house bought.

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“And that’s one thing everybody ought to do … it ought to add $10,000 to the worth of a unit,” Mr Triantafyllou stated.

However one of the best ways to make a revenue is in case you can squeeze one other bed room into your floorplan.

“I had one the place there was an open space in a unit, I believe it was a research, however I spent about $2000 on including a sliding door and elevated it to have an additional bed room — that added $100,000 to the worth of it, and much more lease,” Mr Triantafyllou stated.

He’s achieved related outcomes by relocating a laundry to show that area right into a bed room, and famous it might even work the place a house had a separate kitchen to the eating areas in case you might then add a kitchen to a different dwelling area.

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Different excessive priorities must be good heating and cooling methods.

“A break up system could be primary for me, and they’re vitality environment friendly,” he stated.

For these planning to replace their very own residence, Mr Triantafyllou stated planning was obligatory – as many updates couldn’t be performed whilst you nonetheless lived within the residence, even portray if the roof wants a recent coat of paint.

However for these with some downtime this summer time, he stated the backyard was a great wager.

“It 100 per cent provides worth to the house — significantly in case your backyard is presently ugly,” he stated.

Mr Triantafyllou’s recommendation comes as new analysis revealed that including an additional bed room right into a floorplan, a brand new kitchen bench and loo tiling may very well be sufficient so as to add $100,000 to the worth of a few of Melbourne’s dated and daggy properties.

And with the Victorian capital tipped for residence worth rises as quickly as there may be an interest-rate minimize in 2025, these making a begin on cashing on this summer time may very well be set for giant rewards.

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sarah.petty@information.com.au