Afternoon everyone,

I asked this in ausproperty and wanted to post this here as well to get a bit more feedback.

Last year I bought a 114 square meter 2 bedroom 2 bathroom 90s brick building apartment which is livable but its clear the previous owners were investors who put little effort into the place and it shows obvious signs of wear and tear with dated bathrooms and kitchen. I have already given it a fresh coat of pain and replaced the old grey blinds with white roller blinds.

I plan to live here forever so long term I plan to renovate the kitchen, main bathroom, smaller ensuite bathroom and laundry room. I also want to replace the built in wardrobes in both bedrooms and add floor boards to both bed rooms and the hallway. I have no intention of making major plumbing changes or re-arranging the layout just a brand new fresh modern look.

I naïvely initially thought this project would cost between $100k-120k but upon further research (in another post on this sub) this could cost anywhere from $150-200k (or more) and that's the conservative estimate given how the price of material and labor has gone through the roof with no signs of slowing down or decreasing.

Then I realised that with the money I could spend on renovations I could just sell it and buy a nicer place that has already been upgraded. But in saying that so many new builds are frankly trash and finding a externally older unit with a modern new interior is going to be so much harder. And my apartment is pretty spacious compared to newer builds and within walking distance from work, a massive park, a train station, bus stop, the light rail and a future metro station. It does have its benefits as well.

What do you all think ? Do you think its worth sinking money into this apartment or am overcapitalising ?

Thanks everyone for your time and have a nice day.