Renovating for Profit

Creating equity

Locals in Cairns will know all about the 'M' suburbs but I'm here to blow that theory wide open.

It's important to remember there are markets within markets and this would be one of those stories.

 

Recently my wife and I purchased a property in Mooroobool. It was a diamond in the rough that's for sure but the 'bones' were good.

To share a few points that can be transferred from this renovation to another are;

  • Location = proximity to city centre (not amenities)
  • Gentrification = is there any signs present in the surround streets?
  • Building = is it solid or are the defects easily remedied?
  • Paint = easy inexpensive option to clean up any house (inside and out)
  • Landscape = yard cleared is another good way to clean up any property

Check out these 'before and after' images - this exercise cost $27,000 in total & the equity harvest was $100,000. The big takeway for us that we wanted to share with you is 'stick to the budget!'

 

 

 

Call 0437 427 543