Abermain Investment Project
Renovator: Elizabeth Wojtczak
Project: Investment
Purpose: Selling property to fund retirement
Renovating is not just about the profit. Its also about having balance and doing things that inspire you.
Meet Elizabeth, another of our Reno Rockstars. She is a passionate creative who decided to build her ideal life in retirement using interior design and renovating.
Elizabeth knew that understanding how to renovate and style for herself and others in retirement was something she loved to do and set about educating herself and building her skills. It is also a great way to stay active, to feed her creative needs and to earn an income to fund her other passion…travel! (thats one we can relate to!)
Elizabeth has the best of both worlds, she works as an academic administrator, part time and has her own consultancy working with property owners to get the most out of their properties when they sell.
Find out how her interior design and renovating skills created an extra $35,000 for her client.
Scope of Work:
Cosmetic reno. Install vinal cladding to exterior walls and paint veranda and exterior. New carpet, laminated flooring.
The biggest challenge with this project:
Distance from Sydney, travelling and moving furniture to site.
Best reno budget finds:
The budget was extremely tight. Furniture to style the property was bought from Ikea, Fantastic Furniture, Freedom, K-Mart. Purchased three chairs from Freedom for $24 each!!
How long did the renovation take?
Eight weeks (the owner – a handyman – did all the work on weekends)
The biggest lesson as a student of The School Of Renovating:
The importance of keeping to the budget and how to source great bargains.
Cost Breakdown
| Purchase Price | Renovation Cost | Valuation | SOLD | Profit | Profit (Net) |
| $185,000 | $20,000 | $200,000 | $255,000 | YES | $35,000 |
Elizabeth’s advice to all budding renovators:
Do your research. Plan well beforehand and know the best places for purchases and deals. Stick to your plan but always be on the lookout for great finds that will work for your reno!
