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Thursday, September 8, 2011

Into the woods...with upgrades

Upgrading is never ending. When do you stop? How do you stop. For us it was getting ridiculous.

We had to reassess the upgrades and ensure our overall objectives were met.

So what were our priorities?

  • Large Alfresco so we can host our  family functions. 

  •  All brick construction

  • A "wow" factor on ground floor especially bathroom, entrance, staircase and kitchen

  • Finally we had to be careful not to over capitalise . We wanted to ensure that if we were forced to sell tomorrow we would get our land cost plus build cost back. For us we needed to ensure total cost did not exceed $1.25m. This is the current market price for a 4/5 bedroom family home.  We purchased our land in the inner west of Sydney in 2008 for $715k and KDR is costing us about $500k

  • Resale, resale, resale - we wanted to appeal to the family market and use neutral tones should we decide to sell in the near future

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