Question: The reno bug has bitten and I want to improve the look of my investment property. Is it necessary to use a professional or could I just do it myself?
Answer: Unless you have the time and skills – get in the professionals.
Whenever I buy properties for myself and/or clients, I always buy bargains. By doing this it means I have extra money to spend on a quality renovation with licensed tradespersons.
Let’s do a comparison:
1. Budget renovation:
• Tenants don’t like them
• Agents find them hard to rent
• Valuers value down for budget renos
• Insurance companies may reject your claims
• Just not safe for the tenants
2. Quality renovation:
• Tenants fight to rent your property
• Agents love the ease of renting them out
• Valuers value up for quality renos
• Insurance companies find it hard to reject claims
• The property is SAFE. From smoke alarms to safety switches
As a seasoned property investor my preference will always be a quality renovation. In the past I’ve done the $1,000 renovation and ended up with a high maintenance investment with constant complaints from the tenant.
Do yourself a favour. Use professional tradespersons, get a low maintenance investment and enjoy life.
Source: “Ask Paul”
Top Suburbs :
Get help with your investment property
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 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 an appointment is free.
We value your privacy and treat all your information seriously - you can check out