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Overheard on Your Investment Property forum:
“I'm currently studying at university and in my last year. I've managed to save about $10K working two jobs and living with my mum. Realistically, what can I buy with this deposit as an investment?” Matty
“Have you considered co-ownership or a syndicate? If you're keen to get into the market asap, this could work as a possibility - as long as you and your partners are all on the same page and it's all set out in writing.” Patchy
Is renovating my home a waste of money?
"I’ve always wanted to renovate a place myself but I’ve heard that quite often the amount you spend doing up the kitchen and bathrooms etc will cost you more than the profit you can make adding value. Should I think about adding an extra bedroom or stick to basics like a fresh paint job and landscaping the front yard? All advice would be most welcome! Thanks!" Kerry
"If it's an area that people want to buy in and there's no land people may pay a premium to get into the area so renovating may not be worth it. Look in your area at the price difference between renovated and unrenovated. Compare apples with apples. By renovated do they mean new kitchen bathroom or just updated?" Patchy
“…If doing a reno you want to get $3 for every $1 you spend (more if you are putting in labour yourself).” Addicted
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