Top 6 Renovating Tips For Profit 2018
If you want to renovate a house for profit without breaking the bank and still get financial gain. We have some tips on how to make great improvements without the large financial outlay.
Find The Right Property
Not every property that needs a renovation is worth renovating for a profit. Finding the right property in the right suburb is vital to a successful renovation for profit, so do your research! Check out what other people have done in the suburb, make sure there is a demand for what you want to do.
How long are properties taking to sell? Are people willing to pay extra for a renovated house? Do my plans and ideas suit the needs of the suburbs demographic? Are all question you need to ask yourself before buying. You can get a good gauge of the answers to these questions on www.realestate.com.au/sold.
You don’t want to be selling the best house in the street. You want to buy one of the worst houses in the street and bring to up to the standard of the other houses in the street and suburb.
Plan and Research
Make sure you have a plan before you start. Having a plan of action will help ensure you don’t go over budget and guide you through the process. You will be surprised at the range of options you have when you start researching. When you are renovating on a budget research is key, you are likely to find supplies for better prices if you research. Checking online stores and second-hand shops can really save your budget.
Check-In On Your Budget
Make sure you are keeping track of how much you are spending as you go through the whole process. Keeping an up to date spreadsheet of your costs is vital to ensuring you are not blowing your budget. No one wants to check in on their budget half way and find they are already over budget and in danger of not finishing.
Pick Neutral Colours
If you are planning on selling the property after renovating opting for neutral colours will ensure you are not polarizing potential buyers. Following trends can cost you if that trend is long forgotten by the time it comes to sell your property.
Keep It Simple
Doing simple low-cost things like changing door knobs, light fittings and fresh paint can make a massive improvement to the appearance of the house as well as increasing the potential sale price.
Lastly never list an unfinished property for sale. An unfinished project is not going to give the first impression you want. First impressions are essential to capture the buyer that is willing to pay that little extra to purchase their dream home you created.
We offer a wide range of services at Designer Planning including plans for renovations and extensions. But we don’t just do plans. We can help you with engineering, soil testing, and even help you find the right builder. If you are ready to jump in and get your next project started, contact us today for a free quote!