We bought this apartment around 4 months ago.
You might remember our negotiations at auction, where the sales person was trying to convince us that he had other interest in the property.
We bought the property with a current tenancy.
This condition is always stated in the contract of sale, and a copy of the tenancy agreement will be attached.
When we bought this place, we knew there was a tenancy agreement until the end of September.
For a lot of people this is a negative. They usually want to buy and move in as soon as the sale is settled. As this was an investment, we could accept the tenancy, and likely benefited from this as it reduced the number of people interested in buying.
This way we have money in the bank……the property bank.
The rent covers the loan repayments, and we gain growth in value over time.
This apartment is at the rear of the apartment block. Most people prefer the front of this apartment block because it overlooks Macleay Street and has a ‘Parisian’ feel.
But……. the balconies are “Juliette balconies” and barely fit a small chair.
They do overlook the trees that line the street, so the aspect is attractive, and in summer the light that comes through the trees is amazing.
However…. the apartments at the back have the benefit of a north aspect for lots of sun, large balconies and significantly less noise than those at the front.
We haven’t been into the property for many months.
In fact, we only saw it once before buying it, so we need to take a look, measure up and get out plans together to submit an application to the Strata Committee for approval.
We’ve renovated before in this property. We know the pros and cons in the building.
This building has great acoustics – there is no noise transfer between them. A great plus. The bedroom is huge and the ceilings are high.
They are dark apartments.
The original styling was from a time when ‘dark and moody’ was edgy.
Now it’s just plain dark. So, we need more light, and a lighter colour. In fact we need more lights installed…. the only lighting is from three downlights hidden ‘tastefully’ under designer eaves in both the living room and the bedroom.
That is just not enough. Our renovation has to address this.
The property also has a small dark kitchen, and only a bar fridge included. We need to find a way of adding light, and being able to install a larger fridge and more storage.
Also it contains another amazing design feature direct from the 90’s…. a take on the 60’s…. some bizarre rails that divide the kitchen and make a ‘hallway’.
That has to go to open the area up and enable us to create a bigger kitchen.
We figure we can also save the bathroom and clean it up. The bathrooms in these places are actually quite good, apart from a lack of effective storage. Amazing that when it was first designed, they figured the bathroom only needed a shallow cabinet. Obviously not designed for people like us…where do you put all your products!
We need to find a way to fix that. Not disturbing the bathroom, and the waterproofing, is a huge cost saving.
Our goals on this one are….
- Create more light
- Make the kitchen feel larger and add more storage
- Improve storage in the bathroom
- Redesign the bedroom to create an extra living space and create an amazing walk in wardrove
- Create a garden balcony, taking advantage of the light, softening the outlook and making an extra living space.
We make sure we measure everything……everything.
The detail is important.
This way I can create the floor plan, and the 3D modelling. This enables us to check that our design will work before we start.
It also allows us to include extensive detail in our application to the strata committee. Having this detail really improves and speeds up the approval process.
With the ‘Twins’ we have the chance to take two apartments…that are pretty much the same….and create them in two different styles.
Onto the drawings, floorplans and the 3D models.