When renovating an existing property or buying a property for renovation, there is a lot to consider. What needs to be done? How much will it cost to complete the project?
When renovating, especially for profit, it is important to stick to your budget and avoid any blow outs. This can turn your investment from a property that gains value and cashflow, into a deep dark pit of spent money and regret.
Here are some tips of what to look out for, what to avoid and how to make sure you keep on track.
from Property Investment Blog http://blog.realestateinvestar.com.au/4-ways-to-avoid-blowing-your-renovation-budget