Help me to Retire

For first timers renovating, setting and sticking to a budget is paramount so as not to over capitalise.  The usual budget for a reno job is about 5% of the purchase price of the property.

From there:

• Research what needs to be done to the property and who will do the work (yourself or reliable tradesmen)
• Start from the Street - Street appeal - paint, render, new fence, new letter box etc
• Inside - flooring (floorboards or tiles and carpet), paint (neutral colours), blinds for curtains etc
• Kitchen - use cheap and effective ideas such as tile paint , laminate paint and new handles for cupboards and just replacing bench tops.
• Bathroom - make it look big and clean - mirror, whites, tub and tile paint, get rid of the shower curtain, new taps \ vanity and toilet if necessary
• Adding other value items that your tenants will appreciate such as a dishwasher and an Air Conditioner

Remember most renovations should be done within 4 weeks.

Good Luck and to read more about the subject head on over to the Reno Kings Web Site.