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 73: Bad builders: how this investor bounced back
Episode 72: Policy changes to interest-only loans: what buyers need to know
Episode 71: How this 'stubborn' investor recognised a property lemon
Episode 70: How this investor complements each property and balances his portfolio
Episode 69: Are you a ‘lazy’ investor? Consider the benefits to working with a financial team
Episode 68: Special episode: audience discussion live from the Property Buyer Expo
Episode 67: Don’t get ‘caught up in the now’: an expert reveals his tips for success
Episode 66: Wealth distribution: how should you manage your money?
Episode 65: Real estate agents: what separates the good from the bad?
Episode 64: How this investor learned from a property blunder
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