A 2bdrm unit, 2km from the cbd, that is for sale for $189k in my town, has already been renovated. I want to know if I can still increase its value if i purchase it and do some small cosmetic things to it like painting the feature wall and putting up a shade cloth over the courtyard. Purchase, do these things, sell in a years time for profit avoiding Cap Gains Tax or rent out.
Is it still possible to add value to an already renovated prop. and release its profit???
any advice… cheers
LOANwolf[biggrin]You could find out thru RE’s if there are any creature comforts u could add ie. clothes dryer, split system air con, dish washer, table and chairs for the courtyard, window tinting, then you may be acle to increase the rent.
hrm
It could be possible to add value, but it would depend on local prices in general and the sort of value you could add. It seems there may be a risk of overcapitalising, ie you could spend $20,000 to find it only increases in value by $10,000.
It would be safer to find a run down one to do up.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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