How to add value to your property without overcapitalising
podcast

How to add value to your property without overcapitalising

How to add value to your property without overcapitalising

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 104: New podcast: Q&A session with Paul Glossop – more questions answered!
Episode 103: Special Episode: Phil and Munzurul talk steering the growth and development of portfolios by managing cash flow
Episode 102: Investor reveals how to find the perfect property manager
Episode 101: From 12 to 100 properties – how this investor will achieve his goals
Episode 100: BONUS EPISODE: Property investor talks research, teamwork and balance in his portfolio
Episode 99: Portfolio update: SPI opens its books to reveal all the nitty-gritty details
Episode 98: BONUS EPISODE: Buyer's agent forecasts what’s to come for Aussie property market
Episode 97: ‘How we achieved financial security through property’ – the Property Twins reveal all
Episode 96: BONUS EPISODE: Tips for tackling pest and building inspections head-on
Episode 95: The top 10 things every investor should check before buying a property
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How to add value to your property without overcapitalising
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