{"id":32796,"date":"2015-07-23T00:00:00","date_gmt":"2015-07-23T00:00:00","guid":{"rendered":"https:\/\/cms.fiveaa.com.au\/uncategorized\/how-do-you-make-a-profit-from-renovating-2\/"},"modified":"2015-07-23T00:00:00","modified_gmt":"2015-07-23T00:00:00","slug":"how-do-you-make-a-profit-from-renovating-2","status":"publish","type":"post","link":"https:\/\/cms.fiveaa.com.au\/show\/how-do-you-make-a-profit-from-renovating-2\/","title":{"rendered":"How do you make a profit from renovating?"},"content":{"rendered":"

Some top tips, thanks to Bernie Lewis.<\/strong><\/p>\n

The influx of renovation reality television shows has certainly fed the passion amongst Australians.<\/h3>\n

It seems an increasing number of people are applying for a home loan in South Australia<\/a> with the intention of purchasing a ‘do-up’.<\/p>\n

According to a report from IBISWorld, Australian spending on renovation and home maintenance was over $54 billion in 2013, and is expected to increase to over $60 billion by 2017.<\/p>\n

“Many renovate to improve their quality of living and boost the value of their home with a view to making a profit down the line”, said Karen Dobie, IBISWorld general manager.<\/p>\n

Considering the reality television shows, is it actually possible to invest in a home, make a few renovations over a short timeframe and then sell it on for a profit?<\/p>\n

Here are some of the easiest and most effective ways to add value in a short timeframe.<\/p>\n

Location<\/strong><\/p>\n

This is the first and potentially easiest element. Remember that it’s not about where you want to live, but about where you will gain the best returns.<\/p>\n

Choose an area that is soon to benefit from future developments like improved public transport, a new school or better infrastructure.<\/p>\n

Kitchen<\/strong><\/p>\n

According to the Property Institute, the kitchen has the most value of any room in your home. Therefore, you shouldn’t be shy with expenditure.<\/p>\n

In a June 26 2013 Property Observer article, author Amanda Talbot recommends allocating 5 per cent of a home’s value towards the kitchen. If the appliances are old, consider some new energy-star approved equipment. Not only will they be more efficient, but more attractive too.<\/p>\n

Parking<\/strong><\/p>\n

It’s a good idea to have a property with parking. A report from the Real Estate Institute of Victoria found that there was a $100,000 price difference between a Melbourne one-bedroom unit with a car park and one without.<\/p>\n

Despite this being for an inner-city unit in Melbourne, it still bears relevance to property in South Australia – Roy Morgan Research found that the number of motorists on the road in Australia has increased by 2.6 million over the last decade alone.<\/p>\n

Entrance<\/strong><\/p>\n

First impressions count. This means your home needs to look attractive from the street, as unfortunately people do judge a book by its cover.<\/p>\n

All your effort on renovating the inside will be for nothing if you can’t get potential buyers in the door. Your Mortgage recommends doing some gardening with modern plants, adding a lick of paint to the house exterior and adding a fence if necessary.<\/p>\n

If you are considering investing in property, make sure you get the right financial advice from a mortgage broker in South Australia<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Some top tips, thanks to Bernie Lewis. The influx of renovation reality television shows has certainly fed the passion amongst Australians. It seems an increasing number of people are applying for a home loan in South Australia with the intention of purchasing a ‘do-up’. According to a report from IBISWorld, Australian spending on renovation and […]<\/p>\n","protected":false},"author":6,"featured_media":22154,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[231],"tags":[],"geo_market":[],"class_list":["post-32796","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-show"],"acf":[],"yoast_head":"\nHow do you make a profit from renovating? - FIVEAA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cms.fiveaa.com.au\/show\/how-do-you-make-a-profit-from-renovating-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How do you make a profit from renovating?\" \/>\n<meta property=\"og:description\" content=\"Some top tips, thanks to Bernie Lewis. 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