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Reno's for Strata properties

Well, one potential downside is that you can’t do as you please when it comes to renovating. You’ll often need to obtain strata approval before you can do any upgrades, as, unlike with a freestanding home, work done in a strata building will have an effect on the neighbouring units. Your kitchen renovation upstairs could create havoc in terms of noise and vibrations for the residents below, or the tile flooring you install could echo loudly in their home – which is why your upgrades will be subject to the regulations of the body corporate and the approval of the owners corporation.

Reno focus: Unlock equity

If you’re looking to build a healthy nest egg for your future, then investing in property can be a fantastic way to make a profit. Securing a property that requires some improvement, in the right location, could be your fast-ticket route to building a property portfolio in as little as five years.

Renovating boosts a property's value

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