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there you go, you yourself just said it.. the profit wasn't only from a reno, it was a combination of other factors which made you the profit. What I'm saying is a generic $20k reno isn't going to make you such money..

lol, 100m2? that must be a dog box! and you have 4 bedrooms in that.. sorry but this story doesn't add up.

I very much doubt a $50k reno doubles the value of your property.. you either purchased well under value, or waited many years for capital growth.

TPFKAD, I would agree with you. exactly what I'm trying to say.. As far as been 'right' or wrong. I guess time will tell on who is 'right' or 'wrong'. And I would tend to say from personal experiance the renovation path is 'wrong' in my opinion and experiance.. Its a bit like finding fools...

gg1965 - so thats why there is discussion here! Everyone can learn from everyone. There is no 'right' stratergy. My first house I bought I did a make over, and yes I made money, but I think I would have done better had I done the reno just before I sold it 5 years later. I had to repaint again...

you could buy another IP, or buy shares.

depends on what condition the house is in.. if its a 'demolition delight' then yes.. but if its just a 'polish floorboards and paint and slap in bunnings kitchen' then I doubt that.. More often than not, the properties which remain on the market, need far to much work done to them to bring...

gg1965, by doing a reno, your simply catering for a certain client. In this case a family with kids. There would be just as many people out there wanting something cheap and wont pay the extra for a renoed place. Either way your in the same position, should you reno, you have spent money which...

exactly, these 'renovation delights' seem to fetch MORE than their renovated counterparts. as people see them as been able to taylor the property to THEIR liking.. and most people these days know the simple tricks like paint jobs and polishing boards bring up a place, with little effort.

Lets look at it this way. We have two houses side by side. 50 years later you have done 5 different renovations spending $20k each time. ie new kitchens, bathrooms, painting etc. However when selling 50 years later, I do a reno just before I sell. My house will be worth the SAME as your...

What you forget is as you hold it, these renovation which you have done, in time date, and your back to square 1. unless your increased rent actually covered your renovations, your essentially throwing money away. The house will grow in value at the same rate regardless on the condition of it...