renovate smart and save some cash!
Renovate on a Budget.
How to renovate a house or apartment on a shoestring budget
By Geoff Doidge
courtesy of http://www.renos.com
Current increases in mortgage rates combined with rising house prices have resulted in an increased demand for rental accommodation. Apartments,flats and townhouses offer an accommodation option which is affordable and can cater to a wide spectrum of tenants – from students to families. However,when there are many of these dwellings on the market,how can investors help their properties stand out from the rest,increase the rent and add equity?
Here are some tried and tested ideas on how to cosmetically makeover your apartment,flat,townhouse or house without breaking the budget.
Renovation Budget
Start your renovation by first setting a realistic budget. 5% of the purchase price is a good guide. If you are inexperienced in renovating,budgets can easily spiral out of control.
Begin by talking with tradesmen and asking for quotes on certain jobs you need doing. Make sure that your tradesmen are registered or come recommended.
Also talk with other experienced renovators about their experiences and their costs.
Continue reading Renovate on a Budget.
