Success Story - Aspendale Gardens

For this project in Melbourne’s south-east, we worked with interstate owners to modernise their property and maximise its sale price. The home was in excellent condition but dated, and the owners recognised that it would sell for well less than its potential in as-in condition.

Given their location and limited renovation experience, the owners engaged Kudo Homes to help them identify where to spend to get maximum value, manage the renovation project on their behalf, and assist them with funding via our ‘renovate now, pay later’ model.

How Kudo Homes helped

We focused on practical, low-cost improvements to give the home a fresh, modern feel that would appeal to a broad range of buyers. After researching the local market for insight into buyer demographics and budgets, we agreed to revamp the living areas, kitchen and bathrooms inside, and overhaul the front yard to create strong street appeal.    

Using guidance from local estate agents regarding the additional profit a renovated property would likely achieve, we agreed a budget of $62,000. With the owners opting to ‘renovate now, pay later’, we were able to start immediately without any upfront payment and the project was complete in three weeks.

Renovating For Profit

Fresh paint and flooring throughout

Our first step was to repaint the interior and replace the terracotta tiles throughout the home. We opted to install laminated timber flooring over the top of the existing tiles, saving $3,000 in tile removal costs. Replacing the floors gave the entire property a lighter, brighter and more modern feel.

A stylish modern kitchen

The kitchen captured excellent natural light, but the colour scheme, cabinetry and tapware were dated. We delaminated and painted all doors and panels, installed a stone veneer benchtop and replaced the tile splashback with a modern glass-look alternative. To further elevate the space, we installed a new cooktop, oven and rangehood, modern handles and pendant lights.

An inexpensive bathroom revamp

A basic renovation for a small bathroom typically costs around $14,000, which was outside the budget for this project. Focusing on improvements that would deliver the best bang for buck, we installed a new shower screen and tapware, replaced the vanity panels and doors, and installed a modern benchtop with a mounted basin and chrome mixer.

A front yard makeover

Most potential buyers will do a ‘drive-by’ before they decide to attend an inspection, so it’s essential to create a positive impression from the footpath. We gave the front of the house a facelift by repainting the front door, garage door and gutters, resealing the driveway, and undertaking some basic landscaping to create a tidy, low-maintenance space.    

The Result

Kudo Homes was able to transform the property to achieve a sale price of $1,013,000, compared with a pre-renovation estimate of $850,000 – a difference of $163,000.

We achieved this result with a budget of $62,00, meaning we were able to deliver more than $2.50 of profit for every dollar spent. Importantly, the owners didn’t need to spend any of their own money, with the cost of the renovation taken from their settlement payment.

Kitchen

Living Room

Bathroom