investment-guides

Add value through renovations

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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Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
PAMBULA 42%
2.
MILSONS POINT 41.26%
3.
SPEERS POINT 39.69%
4.
SPRINGWOOD 37.72%
5.
ILUKA 36.3%