Renovation plans for the Class Project get started
The first steps for renovation plans and the dream to realise our class projects for The School of Renovating are taking shape of our Wonder Women Renovators.
Finding the first project
We were keen to find a house to renovate for the first project so it could be managed independently and a great profit potential could be realised. The market in Sydney makes our budget prohibitive so we decided to turn our search to Newcastle.
The property search took around 3 weeks and we have now secured a 3 bedroom, 1 bathroom house in New Lambton, an upmarket suburb of Newcastle.
Keeping in mind that building costs are high at present we went to auction with a very tight budget of $950,000. Thanks to the auction being held on a Friday and some skilled and crafty bidding by our buyer’s agent, we secured the property for $915,000.
Our class team of 14 are very excited to get going!
Early start to Renovation Plans supports profit potential
The next step in the project is to apply our $100k Cosmetic Plus renovation system from our renovation courses online program.
The plan is to renovate the home and convert it from a three-bedroom, one-bathroom home to a three-bed, two-bath with master ensuite, open plan kitchen and living which opens onto an entertaining deck.
This week, the Class Project group jumped onto a Zoom planning session with resident architect David Janson to determine the possible design concepts. David expertly conducts these Renovators Concept Sessions.
Collaborating on projects like this with large numbers can be a challenge. As a credit to our group, it was an outstanding success. We worked with David to come up with 2 options.
Improving street appeal and solving the problematic carport
The biggest challenge to boost the profit potential is to address the street appeal. It is made particularly ugly by an unceremoniously placed flat-roofed carport at the front of the house.
There is also a garage situated in a position that makes it difficult to access without taking out the side of your car in the process. A solution is yet to be found for the troublesome carport.
The house also has two large picture windows at the front – for the master bedroom. These don’t make interior privacy easy and are out of step with the rest of the house. Our architect proposed an elegant solution that will give the home a more architectural appeal.
So the dream to provide the ultimate renovation plan experience as part of our renovation courses online is off and running.
For now we are finalising the renovation plans and making the most of the settlement period before the house becomes ours in about 4 weeks time.
Keep an eye on the blog here as we keep you posted on the Class Project progress.