I’m a big fan of renovating to add value to your property.
It’s one of the simplest and easiest ways to boost both your rental returns and the value of your property asset.
But if you don’t know what you’re doing, you’re spending gets a little out of control and you go way over budget, or you overcapitalise on your renovations, it can also be a fast track to a financial loss.
This is one of those areas of property investing where education is key.
I don’t claim to be a renovation expert, but I’m happy to point you in the direction of resources that can help you build your knowledge bank in this area.
RealEstate.com.au offer a number of tips to help you manage your renovation budget; make the most of a small bathroom; and select the ideal property for a renovation rescue.
Also in this video, interior stylist Naomi Findlay offers a few tips to help you make a big impact when presenting your property for sale or rental.
When browsing these resources, I learnt that extending tiles all the way to the ceiling, or painting a vertical stripe on the wall, can help to make a small room seem larger.
And here I thought I was pretty experienced when it comes to property tips and tricks. Just goes to show, there’s always something new to learn as a property investor!
Til next time, happy investing!