Should I renovate the bathroom on my investment property?Article
A great way to increase your rental return on an investment property or even top up the value of a property before you sell is to do a bathroom renovation. Apart from the tax deductibility if it isn’t your principle place of residence, data has shown that the property owner could increase the weekly rental income by up to 10% for a permanent let property or up to 15% for a holiday rental, plus freshly renovated Bathrooms with crisp online photography also book out faster. In 2018, the Housing Industry Association (HIA) released the kitchens and bathroom renovation report. Their survey found that the average cost of a bathroom renovation in Australia was $17,522. This isn’t much more than the cost of a new bathroom installation in a brand-new home, which according to the HIA comes in at an average of $16,430. Depending on your location and accessibility, a full renovation can take 2-3 weeks.
At Designer Bathrooms Plus we offer a Design and Consult service for $385 which takes a lot of the stress out of the process and includes a home visit. We’ll work with you to put together a bathroom design that suits your needs, style and budget. Depending on your requirements, our designs may include advice on layout, colour schemes, materials, flooring, fixtures, fittings, window coverings, lighting and accessories. These will be supplied as elevated digital drawings and 3D visuals. If you proceed with a purchase of Bathroom Ware from us over $1500 we will credit the $385 off you total invoice value.
Disclosure Statement: We are not licensed or insured to
construct, or project manage your renovation. The “design and consult’’ service is packaged to assist you in the creation of your bathroom space and it will be your decision who is contracted to complete the build.
In New South Wales, if your bathroom renovations exceed $1,000 labour and materials in value, the individual, partnership or company you hire will need to hold a current Builder’s Licence issued by NSW Fair Trading.
The Queensland Building and Construction Commission stipulates that tradespersons, partnerships or companies who carry out or supervise any building work exceeding $3,300 in cost (labour and materials) must have a “Builder Restricted Licence” for the type of building activity they engage in. For your bathroom renovation, their licence should state that they are authorised to carry out “kitchen, bathroom or laundry” work.