Hi Archid,
U are pretty right, when it comes to deciding whether to rent out or not.
These days, the cost of refurbishing and reconstruct after rent out, is very high. The ex tenant may damage many things or after 1 yr, u hardly can cover all the refurnishing. Painting the entire unit after rent out 1-2 yrs is quite high. Not the paint cost, its the labour cost that is high these days.
Plumber to painting to replacing damange parts. That is why, those with money at times, don't bother to rent out, because they calculate that they rather keep it empty, lock it and wait for the property value to go up itself. than renting out to a bunch of idiots, who don't pay rental on time, and give you a hell of problems.
Renting to a good tenant is really by luck. If u really got a good tenant, who cares for your property, pay on time, and don't cause trouble, u are really super lucky owner.
As i said. the cost of rennovation these days, however small unit, is still there. If u go to those homes exhibition, u will find that package rennovation of kitchen, 2 or 3 rooms, already cost RM25K to 45K. Cant see much after doing it. Just a simple row of kitchen cupboards, and 2 wardrobes. That is 25K already. Not included the beds, and lightings, and other kitchen items.
So even if u say, u allocate 45K for all, it is hardly can be seen anything being done.
These days, even a 1200 sq ft 3 rooms and 2 bathroom unit, the rennovation can exceed 60-80K average. Almost on average most units in the condo blocks are doing this cost.
absolutely correct mr city dude...
The cost of doing ID works is pretty much at the price range you mention. yes you can have a cheaper type of material to play around with but in the end it wont last that long and sure got complaints afterwards specially if you renting out your unit.
but i do advise to my client and friends...do survey around and ask questions. even silly questions pun takpe. At least the client learn a thing or two about materials and pricing and not get cheated