podcast

Will a quick cosmetic renovation benefit your bottom line?

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Victor Kumar, director, Right Property Group

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If you're seeking to add value to your investment property with a cosmetic renovation, you need to make sure you're getting bang for your buck.

When you're looking at doing a quick cosmetic renovation there's a few factors that you need to look at, obviously is whether you're going to get bang for your buck. In other words, if you're spending say $5000, does it add at least $15 000 to the bottom line? The other side of the coin obviously is to see whether it makes it more rentable and more presentable to your tenants. Because the better looking the property, the better the quality of your tenant and potentially, within the ceiling of that area as far as rent is concerned, the better your rental return.

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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