Investment Property Renovation in Rangiora: Smart Changes, Big Impact

This Rangiora investment property renovation was all about making smart changes in the right places. What started as a dated three bedroom, one bathroom home was transformed into a fresh, practical five bedroom, two bathroom rental, significantly increasing the property’s rental potential without spending money where it wasn’t needed.

Our clients had purchased the property as an investment and got us involved early to advise on how to achieve a cost effective renovation – basically they wanted bang for buck! Having worked on investment properties before, we could see a few clever changes to make better use of the existing space add value and increase cashflow opportunities.

The existing house was a dated three bedroom, one bathroom home with a separate laundry.

While it needed a general refresh, we also saw the opportunity to increase the number of people the property could comfortably accommodate (hello higher rental returns). Rather than simply replacing what was already there, we looked at how the renovation budget could be used to make the biggest difference and add the most value.

We relocated the laundry into a purpose built cupboard with a sink and space for the washer and dryer. This freed up the original laundry, which we converted into a second bathroom. We had a building consent exemption approved for this work, so no time was wasted on design work and council consenting.

A separate two bedroom cabin was then added in the backyard, with access via a footpath back to the house and the new bathroom.

Together, these changes took the property from three bedrooms and one bathroom to five bedrooms and two bathrooms, significantly increasing its rental potential.

It’s a good example of why getting an experienced renovation builder involved early can be worthwhile. Sometimes the biggest opportunities aren’t about expensive finishes, but simply looking at the property differently.

Once we’d worked out how to make better use of the property, the rest of the renovation was intentionally kept simple and cost-effective.

The work included:

• a new kitchen
• two updated bathrooms and separate toilet
• a new laundry cupboard
• new flooring throughout
• a complete interior repaint
• new window dressings
• a larger hot water cylinder to accommodate the additional bedrooms
• a two bedroom cabin in the backyard

There was no need to overcomplicate it or specify high-end finishes. The goal was to create a fresh, modern and practical home for tenants while making sure the renovation budget was being spent where it would have the most impact.

For more ideas on this approach, we’ve also put together some advice on how smart renovations can improve rental yields.

The before and after photos probably tell this story better than we can. A relatively straightforward renovation completely changed the feel of the property, taking it from tired and dated to fresh, modern and ready for tenants.

For more photos of this project, view the gallery here. You can also view more of our renovation projects and before and afters in our project portfolio.

The finished property is now a practical five bedroom, two bathroom rental, giving our clients significantly better potential for their property – both making it appealing to a wider range of tenants and increasing yield opportunities.

Importantly, we didn’t need to overcapitalise to get there. Some of the changes that made the biggest difference were about using the existing property more effectively rather than simply spending more on finishes.

Our clients were really happy with the result and are already looking ahead to their next investment property, which we’ll be working alongside them on again.

Renovating an investment property is different from renovating your own home. Every decision needs to be weighed up against what it costs, what value it adds and whether it will actually improve the property’s appeal or earning potential.

For this project, some of the most valuable changes weren’t the cosmetic ones. Reworking the laundry, adding a second bathroom and creating two additional bedrooms had a much greater impact on the investment than simply giving the existing house a facelift.

That’s where experience with this type of renovation can be useful. We can look at the property as a whole, identify opportunities you may not have considered and help work out where your renovation budget is best spent.

If you’re considering an investment property renovation in Rangiora or elsewhere in Christchurch or North Canterbury, it’s worth getting your builder involved early.

We can walk through the property with you, discuss what’s possible and help identify the changes that are likely to give you the best value from your renovation budget.

Learn more about our renovation services or get in touch with Gareth Davis Builders to talk about your project.