Effective home decor ideas

Main Menu

  • Home
  • blog
  • Real Estate
  • Gardening
  • Roofing

logo

  • Home
  • blog
  • Real Estate
  • Gardening
  • Roofing
Home improvement
Home›Home improvement›Renovation – Is it Worth It?

Renovation – Is it Worth It?

By MATTHEW SOCKOLOV
April 23, 2018
2076
0
Share:

There’s a tried and tested strategy for making money on the real estate industry. You buy property, you renovate it, and then you sell it at a higher price. But is this really something of a success story given by real estate agents who made it big, or is it no more than a myth?

Of course, when an agent tells you that he bought a property for $300,000, renovated it, and sold it for $450,000 12 months later, you’re more inclined to believe it and think to yourself that renovation is something that can be done to improve the value of your home.

There are some factors, or rather circumstances, that can make or break any property investment that follow the aforementioned model from www.renovateplans.com.au (buy, renovate, sell).

Consider the initial state of the property on your purchase

Let’s try to imagine that we just bought a used dwelling. Imagine this is a 3-bedroom dwelling with 2 bathrooms, a garage, and a decent yard. There’s a lot of room for improvement as far as the eye can see, but do you really need to improve the state of the property? Unless you want to unload it within 12 months, you’re looking at a masterpiece already. But for those of you who want to buy, renovate, and sell, you need to consider the state of the property before you even decide to follow the model. Let me explain. The renovation needs to be done with minimal costs as possible if you want to maximize your ROI (return on investment). This includes having to understand the basic structure of the house, the wirings and plumbing fixtures, and even the land that goes along with it. Trust me. You don’t want any unforeseen renovation surprises that will end up costing you a lot of money.

Consider the right time to do renovations

Time is a factor that can affect your ROI on renovations. Take the same house and put it in the suburb. It’s a competitive neighbourhood and it’s difficult to sell a house in that area. If you want your house to stand out from the rest, you need to renovate if you want to make money from your investment.

Consider your resources for renovation

Resources like your experts and finances can make or break your investment. It’s all about getting the most out of your investment, after all. The quality of work or advice that you can get from your chosen experts will affect your ROI. If you paid too much for a simple renovation task, you’ve already lost a lot of money. Your resources are also in line with the initial state of the property. Your reliance on the experts’ services will be determined on how well you know the property and how well you know what needs to be changed to maximize your ROI.

There’s never a good or bad time to maximize your ROI when it comes to buying property. It all boils down to the factors that can make or break your investment. Your decision to do renovations should not be reliant on the amount of money that you can earn, but should be based on the factors or circumstances that can affect your ROI.

Previous Article

Place to get your ideal air mattress

Next Article

HOW TO BUY A STRATEGIC RANCH?

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

MATTHEW SOCKOLOV

Related articles More from author

  • Home improvement

    The best way to find the perfect carpet extractor

    July 31, 2018
    By MATTHEW SOCKOLOV
  • Home improvement

    How To Choose The Right Emergency Glazier For Your Home Or Business

    April 19, 2023
    By MATTHEW SOCKOLOV
  • smart home devices for elderly
    Home improvement

    The Importance Of Smart Home Devices For Elderly

    January 30, 2022
    By MATTHEW SOCKOLOV
  • Home improvement

    Explore the latest collection of outdoor string lights

    May 27, 2018
    By MATTHEW SOCKOLOV
  • landscaping
    Home improvement

    Why Choose Landscaping For Your Home?

    November 11, 2022
    By MATTHEW SOCKOLOV
  • Bathroom Renovation
    Home improvement

    Bathroom Renovation

    May 25, 2022
    By MATTHEW SOCKOLOV

You may interested

  • Home improvement

    How to select a comfortable bed for you

  • Home improvement

    Create Your Own Unique Space By Incorporating Marble Tv Feature Wall

  • Home improvement

    Security And Safety Are Just A Button Away

Subscribe to our Newsletter

Sign up to receive email updates and to hear what's going on with our magazine!

  • Recent

  • Popular

  • Comments

  • Unveiling the Beauty Beneath: Carpet Cleaners in Wirral

    By MATTHEW SOCKOLOV
    September 13, 2023
  • Exploring Options for Balcony Blinds

    By MATTHEW SOCKOLOV
    September 1, 2023
  • luxury home builders

    A Symphony of Design and Opulence: Crafting Your Forever Home

    By MATTHEW SOCKOLOV
    August 27, 2023
  • Unveiling the Beauty Beneath: Carpet Cleaners in Wirral

    By MATTHEW SOCKOLOV
    September 13, 2023
  • A useful guide for getting home appliances

    By MATTHEW SOCKOLOV
    February 5, 2017
  • Types of wooden flooring to your house

    By MATTHEW SOCKOLOV
    March 2, 2017

Sport Timeline

  • September 13, 2023

    Unveiling the Beauty Beneath: Carpet Cleaners in Wirral

  • September 1, 2023

    Exploring Options for Balcony Blinds

  • August 27, 2023

    A Symphony of Design and Opulence: Crafting Your Forever Home

  • August 13, 2023

    Exploring the Advantages of Cheap Spring Mattresses in Singapore

  • August 12, 2023

    Charting the Cool Breeze: Air Conditioning Kent with Chapmans Refrigeration

Best Reviews

FeedBurner Widget

Sign up to receive email updates and to hear what's going on with our magazine!

October 2023
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031  
« Sep    

Follow us

© Copyright earthline-art. All rights reserved.