Your Investment Property speaks to David Hallet, Archicentre’s Victorian state manager, about the top renos you should steer clear of
1. Don’t renovate without first fixing faults. If the house needs re-stumping, re-wiring or re-roofing do this first. Putting time and money into cosmetic improvements without first making sure the building is sound is like putting lipstick on a gorilla.
2. Don’t renovate without a master-plan. Short-term thinking will come back to haunt you in a few years when you realise that the near-new kitchen or bathroom is in exactly the wrong location to suit a well-planned, well-functioning home.
3. Don’t renovate without an eye to re-sale. A darkroom, a home theatre or a sound-proofed music room might be perfect for you, but they may not appeal to anyone else when you list your home for sale. The classic? Converting the third bedroom of a three-bedroom home into a lavish en-suite and dressing room. Sounds lovely, but a house with two bedrooms and two bathrooms won’t suit many buyers.
4. Don’t renovate without consideration of sustainable design. Panoramic views of the garden are lovely, but if the windows face west they need to be considered carefully to avoid the house becoming a hot-house.
5. Don’t renovate without permits. Most renovations will need at least one permit prior to construction. Apart from being illegal, building without getting them can be a recipe for disaster when the time comes to sell.
With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now
Top Suburbs :
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out