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PPORs are different ;) They are an emotional / family based decision.....and not really an "investment" unless you draw down equity out of them for deposits for IP purchases.

Generally speaking you should be getting $2 or $3 back in value for every $1 spent on a reno. Also, try to keep your reno costs to 10% - 15% of the purchase price. e.g. if you buy for $400K don't spend more than $40-60K. However, after doing so, you don't want to make your house worth in the...