While auctions are certainly the flavour of the day in a strong marketplace, the emotion that they tend to bring out of buyers means that I would prefer to stay away from them unless I’m prepared to pay top dollar. That’s not to say I don’t participate in the deal, in fact nearly three quarters of the properties I purchase are done so prior to auction. That means the vendor was looking to sell via auction but then decided to sell early. So how do you knock out the other buyers and secure your dream property?

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For those who get bitten by the renovation bug it’s easy to ignore what can go wrong. With a lack of planning and uncertainty around the market you’re aiming to appeal to, dreams of success can quickly turn into a less than desirable reality. Here are some of the failures you need to steer clear of if you want to remain on the right side of the profit line.

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Property and renovations can be for anyone, it all comes down to your goals and dreams and how much you want them. When you’re starting out and have limited financials it is tough but the sooner you get on the ladder, the sooner your equity grows and you can start duplicating. Caution: the quicker you try and double your money, the sooner you’re likely to fall over, slow and steady is the key to winning the race.

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Once again when buying an investment property we have to say as we always have, “Don’t get emotional”. Making to wrong judgment about the appearance of a property can cost you the negotiation.

When you are looking for properties to inspect, doing your initial research, always keep your buyers brief close at hand and in your mind at all times. 

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For those that have ever done a renovation before, you’ll know that projects can easily run over the time and budget you had set aside. So whether you’re looking to improve the home you live in or add some extra value to your property before you sell, it’s wise to consider some improvements that will give you the best bang for your buck without having to engage a full blown construction company.

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