Amy's $25k Renovation: How to add the most value to your property

How can you add value to your property through renovation? This is a question many Australians are face when purchasing a property, for either personal or investing. Renovations can be a big task so it's important to consider whether the time, money, and effort will align with your property goals. It can be a challenge to know what the market wants and what people like, so this episode will help you understand the best strategy for you!

Buyer's agent Amy Lunardi and Rask founder Owen Rask talk through actionable ways for you to understand how to add value to your property.

On this episode of the Australian Property Podcast:

Amy and Owen's personal experiences renovating
Renovation goals: What are you trying to achieve? Is your renovation for personal or financial benefits?
Ways to add value:
Cosmetic
Paint, flooring, curtains/blinds, light fittings, landscaping, benchtop
Changing floorplan
Extending up or out
Things that do not necessarily add value
Insulation
Solar panels
Irrigation
Better appliances
Ways to save money
Labour
Materials
Sprucing up for sale
Focus on the feeling of a property
Cosmetic and comfort
Consider the demographics
Speak to local agents
Extra considerations
Avoiding replacing something you’ve already paid for (eg buying a property with a modern kitchen then replacing it)
If doing major works, ideally increasing the accommodation or size
Overcapitalising
Consider the true costs – holding costs, opportunity cost, your time
Sometimes can open a can of worms once you start

Australian Property Podcast resources:

INFORMATION WARNING!

This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a quali

Published on 1 year, 7 months ago

Podcast Episode Details

Amy's $25k Renovation: How to add the most value to your property