Get painting and add value

ject yourself, but there are risks in going it alone.

Hiring a project manager can prevent the arguments that tend to arise when you have a number of different parties all doing different pieces of the same job.

A good project manager can take responsibility for the costings and timings, and hustle your contractors and tradespeople into gear if they appear to be lagging.

They can also deal with everything from drawing plans, negotiating them through council and managing the renovation, through to ensuring the final finishes are complete.

The project manager can be anyone from an architect, interior designer or builder, to a professional property investor/ renovator.

Ultimately, it needs to be someone who is experienced, trustworthy and has a team of reliable tradespeople.

If you’re looking to boost the price of your property, but don’t want to take on a large renovation project, there are several small-scale improvements you can do yourself to instantly lift the value of your home.

The main key to remember when renovating is to make sure you know what adds value to your property without overcapitalising.

Try cleaning and painting inside and outside your home.

A fresh coat of paint can make a world of difference to tired-looking interiors and exteriors, and it’s amazing how a thorough clean increases the appeal of a home.

Likewise, recarpet or polish the floorboards.

A simple recarpeting job can cost as little as $5,000 while adding as much as $10k-$20k to a property’s value.

Finally, instead of adding a whole new kitchen, simply change the kitchen cupboard doors and change old light fittings, switches and sockets.

This can instantly lift an old room.

Whether you’re looking to undertake a huge improvement project or a couple of low-fuss changes, a little renovation can often make a big difference to your property’s value.

CARE NEEDED: Renovating an investment property can have many rewards, but it is important to understand potential pitfalls.