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Real Reno: Rapid renovation for profit on Adamstown family home

By Naomi Foxall โ€ข

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We’ve got a ripper of a Real Reno to share with you this week, thanks to our rapid renovation expert, Naomi Findlay.ย Naomi is a regular contributor to Reno Addict but it’s been a little while since we’ve shared any of her projects with you. Today we are sharing a whole house renovation that Naomi undertook in less than 2 months and for the grand total of just under $135,000.

Real Reno: Rapid renovation for profit on Adamstown family home

Rapid renovation for profit

When Naomi first clocked this suburban, free standing family home in Adamstown, NSW, she knew it was ripe for renovation. In its original form, the property was suffering from an uninspired layout with a plethora of wasted space. “There was a poor floor plan with multiple pack entries, excess hallways which wasted space and no decent outdoor living space,” says Naomi. The kitchen and bathroom were also old, dank and uninspired.

Rapid renovation for profit

Rapid renovation for profitBeing a rapid renovation specialist, Naomi had a few tricks up her sleeves to improve the layout and functionality of the house and turn it into a home that would be perfect for a growing family.

First up was the conversion of the downstairs, under house storage into a large rumpus room/family space, followed by the creation of a third bedroom (which had previously been a room outside, unconnected to the main house) and an upgrade to the kitchen to increase size and open up enough space for a dining area.

Rapid renovation for profit

Rapid renovation for profit

While the renovation process ran smoothly for the most part (and was completed in under 2 months), there were a couple of hiccups, namely huge storms the week before going to market which caused substantial roof damage. Thankfully it was able to be fixed quickly and it Naomi turned the dalliance with disaster into a lesson in the importance of renovating a property to withstand all weather conditions, even the severe ones!

The property was purchased for $455,000 and sold for $625,000 after an eight-week reno, netting Naomi a tidy profit of $35,200. The total cost of just under $135,000 included renovations, buying and selling fees including stamp duty, agent fees, holding costs and all other associated costs.

Her advice to would be rapid renovators for profit? “Planning and prep is essential.” Always do your homework and organise yourself accordingly.

Rapid renovation for profit

For more Real Renos, check out our Real Reno archives

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March 17, 2017

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Love this one ๐Ÿ˜ The brief was simple โ€“ to de Love this one ๐Ÿ˜

The brief was simple โ€“ to deliver a functional, light filled, beautiful and contemporary family home that honoured the history of the old interwar home, whilst being financially efficient,โ€ says @splinter_society_architectureโ€™s Asha Nicholas.

On the homepage now via link in bio.

#interwararchitecture #heritagearchitecture #heritageaddition #heritagefacade #heritagerenovation #heritagefeatures #splintersocietyarchitecture #doubleheightspace #moodywalls #moodyinteriors #paintedbrick #originalfireplace #heritagefire 

Photos: @sharyncairns
๐Ÿ’ฆ Summer's here and if you don't already have a ๐Ÿ’ฆ Summer's here and if you don't already have a pool, you might be wishingย you did, or planning one for next year!

Funnily enough, I've never wantedย a pool but that may be because I grew up in England!๐Ÿคฃ

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From tiny backyardย plunge pools to big family pools with slides, acreage pools, Hamptonsย pools, shipping container pools, pools with views, spas and glass windows, pools on sloping blocksย and everything you could think of in between!

Do you have a pool? Do you use it a lot? Do you wish you had one?

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At the weekend, Seb asked if he could put a box of At the weekend, Seb asked if he could put a box of drawings out the front of the house to sell and raise money for the homeless at Christmas.

Of course I planned to sneak my own coins into the box when he wasn't looking, but then a lovely passer by left this note and $5 in an envelope "To the artist" and made his day ๐Ÿฅฐ

I want my kids to be kind and empathetic above all else โค๏ธ You bet I'm proud of him for coming up with this idea himself.

And as grownups, let's be the people who leave a note and encourage this sort of thing ๐Ÿ™๐Ÿป
A or (swipe) B? This divine coloured concrete Jun A or (swipe) B?

This divine coloured concrete Juno bath from @nood_co (available in 21 colours) or this fluted number (available in 1500 or 1700mm length) from @highgrovebathrooms?

Baths are no longer the basic that you choose all your statement tiles and tapware around. Now the tub can BE the statement!

Just two of the new products featured in this week's bathroom roundup, on the blog now via link in bio.

#statementbath #featurebath #bathlover #bathtubgoals #bathtubdesign #bathtubs #freestandingbath #bathroomniche #bathroomtrends2023 #concretebathroom #concretebath #concretebathtub #colouredconcrete #concretebasin #bathgoals #bathtubsofinstagram #noodco #interiorsaddict #theinteriorsaddict #jenbishop #highgrovebathrooms
Summer ๐ŸŒž๐Ÿ’ฆ๐ŸŒธ #hydrangeas #hydrangea #aussi Summer ๐ŸŒž๐Ÿ’ฆ๐ŸŒธ

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Victorians, are you still allowed to have gas in y Victorians, are you still allowed to have gas in your home? We share the ins and outs on what you need to know about the new rule in Victoria when it comes to your energy.

The good news is, for most people nothing will change, however if you are planning a new build/renovation that requires a planning permit โ€“ you will need toย speak to your builder toย get your permitย lodgedย before 1 January 2024!

ย Weโ€™re here to answer all your questions with the help of @australiangasnetworks!ย Read more via link in bio now.

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Our ever popular top places to buy Australian bed Our ever popular top places to buy Australian bed linen online post has been updated for 2023! Head to the blog now via link in bio to get some bedroom inspiration!

Whether you liked classic stripes, fun florals, moody linen or cotton covers, we have something for you!

#bedroomstyle #bedlinens #bedroomrefresh #bedlinen #bedroomgoals๐Ÿ˜ #bedroomstyling #bedsheet #bedsheetonline #bedsheetlovers #duvetcover #doona #freshsheets #freshsheet #newbedroom #bedroomstyle #interiorsblog #interiorsaddict #theinteriorsaddict #jenbishop #heartyourhome
The owner of Noosa homewares and furniture mecca @ The owner of Noosa homewares and furniture mecca @coastalvintage, Sally Oulton travels the globe looking for amazing interior finds. And now you can join her on one of her bespoke interior sourcing tours to Bali where youโ€™ll be taken far from the crowds to discover the best homewares and furniture that the Indonesian paradise has to offer. Read all about it via link in bio.

#baliindonesia #balishopping #balishop #balisourcing #balihomewares #balihomedecor #balitrip #balistyle #baliinteriors #baliinterior #baliinteriordesign
Just capturing Mr 5 here before he stops going to Just capturing Mr 5 here before he stops going to daycare and preschool next month and becomes a school boy. All the feels ๐Ÿ˜ญโค๏ธ๐Ÿ™๐Ÿป
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About Naomi Foxall

Naomi Foxall is a freelance writer, content and social media manager, living on the NSW South Coast.

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Reader Interactions

Comments

  1. AvatarBec says

    March 17, 2017 at 10:23 am

    The place looks great! Well done!!

    I query the “profit” amount though. If she bought it for $455,000, she has had to pay about $16,000 in stamp duty (plus legals, plus any interest on a mortgage plus plus plus). She may also be liable for CGT. These outgoings would significantly reduce the $35,200 profit.

    • AvatarNaomi Findlay says

      March 17, 2017 at 12:12 pm

      Thanks Bec! I can assure you that profit is perfectly correct! When renovating for profit it all about the ability to bring in a renovation that is on time and on budget! Your tax responsibilities are obviously heavily dependent on your business structure that you renovate under. When you have the right formula and the right team and the right tools this is very achievable!

      • AvatarBec says

        March 17, 2017 at 4:51 pm

        Well if you’ve got a way to avoid stamp duty – please share! ๐Ÿ™‚

        • AvatarRICHARD MURPHY says

          March 17, 2017 at 4:57 pm

          I would love to see the figures you used as well please do share

          • AvatarJen Bishop says

            March 17, 2017 at 5:57 pm

            Love your enthusiasm Bec and Richard but I think Naomi has answered the questions well and we have to be careful and responsible about not giving financial advice online. Obviously there is no way around paying stamp duty! As Naomi has already said, all the relevant costs have been taken into account and that is the true profit amount. Best, Jen

      • AvatarKhloe says

        March 17, 2017 at 10:31 pm

        hi Naomi

        I am just trying to do the maths here to understand more of your strategy, which is not about financial advice.

        Sold Price = 625,000
        Purchas Price = 455,000
        Reno Cost = 133,000 (let say is 133K since you mentioned just under $135,000)
        Stamp Duty = 16,237 (according to stamp duty calculator website)

        Profit = Sold Price – Purchase Price – Reno Cost – Stamp Duty = $20,763

        Have I misunderstood anything?

    • AvatarLin says

      March 18, 2017 at 7:20 am

      I agree with this completely. Maybe from here in a note could follow indicating that legals, holding costs etc have been included or excluded in the “profit” amount.

      • AvatarJen Bishop says

        March 18, 2017 at 8:39 am

        The post has been edited to clarify that the costs do include stamp duty and holding costs etc. This should answer your question.

        • AvatarKhloe says

          March 18, 2017 at 10:37 am

          Thanks! Yes, it does answer the question.

          Can I ask what is the actual Reno Cost here excluding all the non-reno costs here? The place looks really nice and wonder how much will it cost to get this “look”.

          Thank you!

  2. AvatarRICHARD MURPHY says

    March 17, 2017 at 10:45 am

    What are the panels behind the bath on the wall and how do you clean behind the bath have left a gap for this? Thanks The hugs mirror in the kitchen well its gives the feeling of space and more light, it would be a bugger to keep clean and with small kids hitting it with some thing, and any movement in the wall would it not maybe crack? Just a thought or is it to bits hard to see in the pic

    • AvatarNaomi Findlay says

      March 17, 2017 at 11:35 am

      Hey Richard great questions.

      The panels I think you are referring to are tiles ๐Ÿ™‚ and absolutely it is always important to leave a cleaning gap is enough, it is hard to see in this image but yes it totally is!

      The mirror – yes it is amazing huh! It is a toughed mirror so there are no issues with kids nor with heat in the kitchen!

      There are draw backs to all things shiny like mirrors,glass and gloss finishes in a kitchen such as cleaning! But at the same time matt finishes have their draw backs too! Not for everyone but certainly met the needs of the target market which produced a lovely profit ๐Ÿ™‚

      Thanks for your comments and questions they were great!

  3. AvatarLibby Timms says

    March 25, 2017 at 2:44 pm

    Hi Naomi, love this Reno! can you give me a rough idea of the dimensions of the bathroom (for comparison with mine) and also can you please share where the bath is from?

    • AvatarNaomi says

      March 29, 2017 at 9:38 am

      Thanks Libby! The bathroom was approximately 1.8 x 3m ๐Ÿ™‚
      The bath was actually a Bunnings one!

  4. AvatarErin says

    March 31, 2017 at 11:01 am

    I am totally stealing this bathroom. Love the mix of styles and the colours.

    • AvatarNaomi says

      March 31, 2017 at 9:37 pm

      Thanks Erin!! So glad it has inspired you!!!!! Make sure you send your before and after pics into Jen so you can share them with the Reno Addict community.

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