Property Lifespan Guidelines?
- Painting (internal) – 5 years
- Painting (exterior) – varying
- Hot water system – every 7 years
- Oven – every 10 years
- Bathroom renovation – every 20 years
- Kitchen renovation – 10 – 15 years
- Replacing floor coverings including carpets – every 7–10 years
- If the property has a smoke alarm, ensure it is working – have it checked annually.
- For houses – structural checks including safety of balconies, verandas and roofs – annually
- Clean gutters – check annually
- Pest inspections – check annually
- Swimming pool – check filtration equipment – annually
- Electrical wiring – check every 2–3 years
FEELING TIRED AND WORN OUT? WHAT ABOUT YOUR INVESTMENT PROPERTY?
We can all feel this way at different times, but have you thought about your investment property lately?
As an investor it is important to budget and plan to update the property every 4–7 years, depending on the normal wear and tear that has taken place.
- Internal painting
- External painting (if applicable)
- Replacement of carpets
- Replacement of window coverings
- Replacement of appliances such as dishwashers, dryers, ovens and stoves
- Refreshing-up gardens