CASE STUDY: Terrigal: Cosmetic Renovation to Manufactured Growth
- Strategy: This case study looks at using a cosmetic renovation to manufacture growth.
- Intrinsic Value: By utilising the footprint of the existing house, this is a strategic renovation and
demonstrates how thoughtful design and vision can result in a substantial improvement with
reduced costs. - Overcapitalisation: By choosing the right area and location with a large variance between
renovated and unrenovated properties you are significantly reducing the chance of
overcapitalisation.
Asset Selection: With this strategy it is critical to select the right type of property that has good
bones and can be readily transformed into a desirable home.
- Clever Design: It is fundamental to include clever design that will create a property that people
desire to live in and it is well worth considering consulting with an architect or designer who can
help maximise the value of the renovated property. - Results: The entire renovation can be carried out efficiently as a result of using as much of the
existing building as possible, providing open plan living areas that are connected to the exterior
spaces and where possible adding extra spaces such as additional bedrooms. This will ensure
you are extracting the maximum manufactured growth possible. - Risk Mitigation: By maintaining the existing footprint, the construction costs are minimised and
the approval process is simplified allowing the project to be completed sooner and on budget.
- Purchase 2022
$1025k Purchase Price - Sale 2023
$1675k Sale Price
