Tasks: Concept & Design, Retain & Build, Renovation
Project Budget: Renovation from $300k – Townhouse from $380k
A popular option for first home buyers and savvy investors is to secure a home on a large block, retain and renovate the original property and build a new home on the block. The Drummond renovation saw the 2 bedroom 1 bathroom post war veteran home, transform into a modern 2 story 3 bedroom 2 bathroom home. The renovated exterior added a grey coloured skillion to extend the outdoor living space.
With all new living spaces designed to face north, both the renovated home and the 3 bedroom 2 bathroom villa have wonderful natural light and are energy efficient. The investment in building a second home on the same block can significantly reduce the mortgage a first home buyer pays after selling. The design of the new home is critical to maximise value.