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Joshua

Joshua

Real estate agent,

Property renovations may not always add value - think wisely

3Mo ago 0 Replies 85 Views
You see…a rash of popular reality TV programs have highlighted the easy money to be made in property renovating, which may have led you to believe that renovating is an easy and surefire strategy to generate profits from property.
But the reality is, renovating won’t always make you money.
In fact, sometimes a property upgrade can deplete your profits to the point where you would have been better off not even picking up a paintbrush in the first place.
These include:
  1. Buying in a stagnant market
  2. When you over-capitalise
  3. When you spend on renovations that don’t add visible value
  4. Structural renovations

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