the word itself, gives some people a cold shiver but for others it gets their blood rushing – but even more so when there’s money to be made.
renovating for you and your family to enjoy vs. renovating for profit are 2 VERY different conversations. one common factor to take into consideration however, is your budget – know your budget and stick to it.
when “flipping” property has the potential to reap huge rewards it’s important to know where money is best spent to get the best return.
Jacqui Dunn (Jacqui Dunn Interiors & MC3 Building & Interiors) shares her tips on successfully renovating for profit
- flooring – changing the flooring in a home has the ability to add huge value for little cost
- painting – never under estimate the importance of a good lick of paint throughout, it gives a home new life
- employ qualified trades – the profit is in the quality and workmanship of the renovations. buyers don’t want to see a “dodgy” quick reno
- hire furniture – don’t let all your hard work go to waste by putting your property on the market and leaving it empty
- better yet, work with a stylist from the beginning they can project manage the entire process from design to trades and getting the property photo ready for sale
a recipe for success that can see any property earn it’s keep