Queenslander renovation ideas - what would you do?

We’re on the brink of buying our first Queenslander - a beautiful old girl sitting across two titles.

We’re stretching our budget so renos are likely to be slow and steady but wanting to get thoughts on where to start.

Here is our list of things we’d eventually like to get to:

• open up the living and dining room walls (they are non-load bearing, sadly the kitchen to living room is so expect it’s going to get too expensive to do so)
• the kitchen
• updating the downstairs tiles to wood
• downstairs bathroom
• front fencing
• maybe painting the exterior to be a bit brighter and more modern

Q. Where would you start? Q. What else would you do? Q. How much budget should we set aside for each? Q. What will have the biggest value driver?