Property Investment Tips: Buying a renovation project for your portfolio

By the resi financial blog team, 05 January 2015

Property Investment Tips: Buying a renovation project for your portfolio

There are plenty of housing options to consider when looking into purchasing an investment property for your portfolio. But one of the more interesting ones - especially if you have the time for it - is to look into the renovation market. 

Often called doer-uppers or similar, these homes may be in need of some tender love and care before they can be put on the market. The great thing about these homes is they're often priced lower than other properties in the market, making them a steal to secure during the sales process. 

And from there, making the right renovations, repairs and additions can be done on your terms, at your own pace and - most importantly - within your own budget. These investments may take a little longer to get up and off the ground, but the amount of money you could potentially save in the interim is a massive incentive. 

Another great thing about purchasing a home for renovation means giving you the means to install sustainable features in the house. Whether this be little things - like more energy-efficient light bulbs - or something a little more large scale like a solar powered water supply, these additions will help boost the value of your investment portfolio. 

Adding additional rooms, demolishing unused spaces and taking your creative hand to the property is well within your reach. Finding a cheaper home in a growing neighbourhood is a great way to get in ahead of the curve and establish yourself in the local property market. 

If you're sitting on the the fence about taking out an investment home loan and making moves into the local market, now could be the time to discuss your options. Speak with a resi specialist today to get an insight into what finance options could be suitable for your needs. 

Categories: Home Loans, Property Investment