investment-guides

Add value through renovations

By Staff Reporter

Renovation has long been an effective tool to not only better your lifestyle but also add value to your property.

According to Archicentre – the building advisory service of the Australian Institute of Architects – renovating can go wrong because of poor planning. If you’re looking to renovate your property for maximum value, keep these tips in mind:

• Before you purchase a home, make sure the structure is actually capable of supporting an extension or renovation and is overall structurally sound.

• Check with your local council and relevant authorities that your plans meet relevant legislation and planning guidelines.

• Ensure that you don’t over capitalsie the property – that can relate to the design, finishes and fittings.

• Create a design that matches the lifestyle requirements currently demanded by the market – this could include indoor/ outdoor areas and other entertaining spaces.

• Obtaining numerous quotes for the building and any sub-contracting – do not lock yourself into a contract until you have explored all alternatives.

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