podcast

How to add value to your property without overcapitalising

How to add value to your property without overcapitalising
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Rich Harvey - Propertybuyer

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Valuating strategies come in many forms. You can do a cosmetic renovation or a structural renovation. Most investors I would advise to do a cosmetic renovation - that's paint, carpet, polish the floorboards, maybe do kitchens and bathrooms and adding the right features. The trick with renovations is not to over capitalise. I see far too many people putting in really high end kitchen appliances in suburbs where it's not required and it doesn't increase the rent. So the one tip for investors is just to temper your enthusiasm on the finishes. You're not going to be living in it, you're just going to be renting it out. Another good strategy investors can use is granny flats. We've helped hundreds of our clients buy granny flats in Western Sydney and we're now moving into the Brisbane market. We're finding a good quality granny flat around $100k will deliver $300 a week in rental return. So it's a fabulous strategy. And our last strategy is subdivisions. You can add a lot of value by subdividing a block as well.

 

 

Listen to other instalments of The Smart Property Investment Show:
Episode 61: The ins and outs of strata: what buyers should consider
Episode 60: The pros of using a buyer's agent: why this investor brought someone in
Episode 59: How to invest in property as a team: two investors share their secrets
Episode 58: When do you stop investing? The SPI Show answers more listener questions
Episode 57: Wealth creation through property: trends and themes to think about in 2017
Episode 56: The SPI Show accountant reveals all: How to pick your financial team
Episode 55: The reluctant property investor: How necessity drove an 18-property portfolio
Episode 54: The SPI Show Q&A: Listener questions answered honestly
Episode 53: 6 properties in 2 years: how this investor is achieving his goals
Episode 52: Will property prices fall? When? And by how much? What investors need to know
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