renovate & sell

[Ted]

so is there money in renovating & selling in sydney? not keeping property just selling right after finishing.

unit or house

 

[DaveM]

In a stagnant market, unless you are adding a LOT of value, the buy and sell costs can erode much of the profit.

One way it does work is if you can live in it while renovating - save rent/double mortgage costs of home + the renovator, and since its your home its CGT exempt on sale.

 

[barndog1980]

The old cliche seems to be "you make your money when you buy". To me this means you will need to negotiate a favourable buying price as the first step in securing a profitable outcome, regardless of srategy. Not every property will have this potential, so its important to know your market in order to spot that potential when others dont.

 

[Ted]

would developing or sub dividing property be better?