Renovating Boosts A Property's Value

Home renovation has become a go-to activity for many people in the property sector.

2018 marked the year of renovations for Aussie families, with home renovations reaching a record high.

Australian Bureau of Statistics data showed that private investment in alterations and additions rose to a historic high of $9.896 billion across the country in the September quarter — up 11% than in 2017.

This was a notable shift given the difficult state of the country's home renovations market over the last 10 years.

Here are the standard benefits of renovating your property, according to Small is the New Big.

- Improves the value of your investment property

- Creates capital growth

- Creates equity with the increase in rental yields

- Makes property more attractive to better quality tenants

- Reduces vacancy rates because tenants wish to reside longer

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