{"id":110544,"date":"2025-05-04T14:30:00","date_gmt":"2025-05-04T04:30:00","guid":{"rendered":"https:\/\/propertyupdate.com.au\/?p=110544"},"modified":"2025-04-28T10:30:20","modified_gmt":"2025-04-28T00:30:20","slug":"10-steps-to-a-high-profit-renovation","status":"publish","type":"post","link":"https:\/\/propertyupdate.com.au\/10-steps-to-a-high-profit-renovation\/","title":{"rendered":"10 steps to a high-profit renovation"},"content":{"rendered":"

Making a profit in renovating a property seems like a very attractive proposition.<\/p>\n

Buy low, renovate cheap, and add substantial value is the aim of the game.<\/p>\n

It sounds simple enough, right?<\/p>\n

While there is always a strong demand for renovated properties \u2013 as there are always people wanting to move into a property that has been renovated and looks fresh and finished \u2013 there is a strategy involved in profitably transforming a ho-hum dwelling into something spectacular!<\/p>\n

First of all, it begins with deciding why<\/i> you want to renovate in the first place.<\/p>\n

At these times of lower growth in some markets, renovating is a solid strategy to manufacture capital growth.<\/p>\n

But it\u2019s how to plan to harvest that growth that really matters.<\/p>\n

Many people believe they\u2019ll be able to renovate for a profit with a buy, reno, sell strategy, but as most property flips flop, I\u2019m not a big advocate of this technique.<\/p>\n

\"Renovation2\"<\/p>\n

Instead, I prefer the strategy of \u2018buy, renovate, rent out, refinance and repeat\u2019\u2026 <\/span><\/b><\/p>\n

If you renovate with the intention to retain property, then you stand to retain all the benefits you\u2019ve created in the renovation.<\/p>\n

This includes:<\/p>\n