02 December 2012

House Renovation At JB - Part 4

Since my renovation work started at August 2012, I hope the renovation work can be completed by this month so that I can start letting some of my available rooms later next year. 

The total renovation work break down is shown as below ( for your reference):

- Wet Kitchen Top and Bottom Cabinet - RM7,800
- Construction Works on the Kitchen Door & Window - RM1,000
- Dry Kitchen Cabinet - RM4,500 
- Electrical - Sockets - RM3,200
- Plaster Ceiling - 1 for Living Room and 1 for Dining Room - RM2,000 - RM3,000
- Floor at Master Bed Room Balcony - RM2,300
- Iron Windows and Iron Doors - RM7,800

So the total is around RM30,000.00. 

I believe I can get a cheaper constructor if I have more time to do the comparison. Anyway, I believe the best you can get is about 30% cheaper than mine, so it would be RM20,000.00 for the above renovation work. 

So if I include the electrical items and furniture,  it could be as high as RM50,000.00. So, please plan for your renovation before you get the keys. It can save at least 30% cost if you can get more comparison from quotation made by others. 

Now, the question comes back here. How long is the time to recover all the cost I invested here. If one common room can be rented out at RM250, and if you rent out 3 rooms, you can get RM750 a month. So you can collect back the cost by 5.5 years. 

Is this a good investment? I doubt so. But at least I can learn from the mistake I made earlier on and try to improve more later. The new cluster house is selling at RM538K now and Semi-D is selling at RM668K. If you are a foreigner and would like to buy a house for retirement / second home, Kangkar Pulai is the best residential area I can think of, as it only takes about 25 Minutes to Causeway and to Second Link and it takes only 18 Minutes to Senai Airport. A future interchange will be built near by. So I believe the property price will be rising again in next 3-5 years time. I can refinance my current property and take out the cash from there to invest in second property later. 


1 comment:

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