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Nova Design Group

07 3385 0698

house designs

RENOVATING AS AN INVESTMENT

 Renovating or home extension (adding to a property) is about upgrading, repairing, refreshing and creating a perceived value that is greater than the actual cost of the renovation.

Many Australians renovate their homes firstly to provide more comfortable by creating larger living areas, adding a bedroom or another bathroom. The secondary purpose is usually to increase the capital value of the home. The traditional and still the most popular form of property investment is to buy and hold, in the hope of capital growth over the long term.

A home extension is a great way to provide for additional income from rent or from the increase in the value of a house.

However, there is a new breed of active property investors in the market who are actively looking for tired and old houses which present good opportunities to upgrade and increase the value.

So it may be that you are one of those people who want to get involved but find it all too hard to get started.

House Plans

House plan designs and general house design work is carried out by many varied architects, building designers, drafts persons and even hobby designers, however NDG specialize in design work for renovations and provide floor plans for building a house or renovations.

Having floor plans before buying a property for investment gives you the edge of not committing to a purchase until you are satisfied with the building price or renovating costs.

Steps of the Renovation Process.

This process is meticulously followed to ensure a consistent approach to the

renovation process which attempts to eliminate most of the big risks associated with each project, regardless of size and complexity.

  1. Target an area/location to specialize
  2. Conduct suburb due diligence
  3. Conduct property due diligence
  4. Analyse potential and project feasibility
  5. Acquire the property
  6. Create higher and better use
  7. The renovation process
  8. Project completion and sell-off

Renovation Ideas

If you are looking for renovating ideas for your house or project, you will best be advised by an Architect or a Building Designer who will work with you by turning your ideas into a workable solution based on your needs and your budget.

NDG takes great pride in being renovation design experts and work one on one with clients to create the best possible results at all times. Nothing is too challenging for us.

Average hourly cost to renovate

  1. Architects $76 p/hr to $250.00 for complex work
  2. Plumbers $67 p/hr to $150.00
  3. Electricians $67 p/hr to $175.00
  4. Demolition experts $53 p/hr
  5. Flooring experts $50 p/hr
  6. Labourers $51 p/hr
  7. Carpenters $46 p/hr
  8. Concreters $49 p/hr or sq.m rates
  9. Plasterers/renderers $52 p/hr or sq.m rates
  10. Tilers/pavers $44 p/hr or sq.m rates
  11. Painters $40 p/hr or sq.m rates
  12. Bathroom Renovation $57 p/hour
  13. Sheds/Garages $25 p/hr to $45.00