Property Reno Magic
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What are the initial considerations before starting a renovation?
It's the Real Estate Podcast, brought to you by ANZ Home Loans for financial well-beings. And welcome to another episode of the Real Estate Podcast, available on iHeartRadio every morning and also on Spotify and Apple and wherever you get your podcast from. It is a Friday morning, the 25th. First day for October, the weekend just about here and Christmas too, just 65 days away. We are into the countdown. Coming up this morning, if you are in the middle of a reno or you're thinking about a reno or you are currently looking at properties with a view of doing a reno, whatever the answer is, We are going to be talking with Rich Harvey very shortly about this all important subject. And there is a lot of planning and scoping out any Renault project, especially when you're wanting to make a decent profit.
And that is not easy. So that is all coming up in just a moment. And from CoreLogic this morning, auction volumes this week saw an increase across the combined capital cities, rising above 2,000 for just the third time since late June. There are currently 2,211 capital city homes scheduled for auction this week. Now that is up from 1,741 last week. And Melbourne is set to see the biggest auction week since the week ending the 19th of June. There are currently 1,167 homes scheduled for auctions this week. That is up by 69.1% from last week. So that is heading in the right direction for sure. It's your weekday real estate breakfast with news, interviews and predictions every morning on The Real Estate Podcast.
Hey, if you're celebrating your birthday today for the 21st, many happy returns. And I see on this day in 2014, Gough Whitlam, the 21st Prime Minister of Australia. He passed away and it was also a notable date on this day back in 2014 also for Oscar Pistorius convicted of murdering his girlfriend Reva Steenkamp and was given 13 years and 5 months to think about his actions so he is still in jail. We talk with leading property commentators with analysis, predictions, forecasts and what's trending every morning from 6.30. Music It's the main centre forecast with PRD, selling smarter every day. And checking on your Friday weather, Sydney expecting some showers in the forecast today and a high of 24 degrees.
Showers to develop for Melbourne with 25. Brisbane expecting showers also with 24. And it showers also in the forecast for Perth today, one or two showers and a high of 22. Let's Talk Property, a podcast series with Rich Harvey. Well, we all like a great reno to make our properties more attractive, more desirable, and more importantly, more valuable.
How can homeowners avoid common renovation traps?
That's the most important thing. But the ability to stick to a budget to make that profit is what most people really do struggle to tame. Whether you buy a property to rent, sell or live in, buying a house in Australia is a form of investment. And as you know, property doesn't come cheap these days. Even a bargain is going to cost a pretty penny. So it makes sense to maximise your investment and renovating is a golden way to add value and profit from. So let's drill down on this more with some great reno tricks and tips. We've got Rich Harvey, CEO and founder of propertybuyer.com.au because it is a Friday morning. Good morning, Rich. Welcome back. Good morning to you, Craig. Great to be with you yet again on a Friday.
Yeah, you've got a fantastic subject here talking about the renos. Let's look at the numbers first. So how many homeowners renovated their home in the last 12 months? Well, we have become a nation of renovators. I mean, you just turn on the TV, right? Like the block and... Selling Houses Australia, but we've become the renovation nation. So actually last year, around 37 to 40% of homeowners did renovations. So there was a survey by Rate City that did a thousand people in their sample size. And they found that the most popular amount to spend was between 5,000 to 25,000. And part of the reason for that is that obviously during the COVID period, people couldn't travel. So what did they do? Hey, that wall needs painting.
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Chapters
7 chapters
1
What are the initial considerations before starting a renovation?
0:02–3:20
2
How can homeowners avoid common renovation traps?
3:20–5:12
3
What steps should be taken to establish a renovation budget?
5:12–7:30
4
What are the most important rooms to renovate for maximum value?
7:30–10:06
5
How can you ensure quality finishes during a renovation?
10:06–12:26
6
What role does professional help play in successful renovations?
12:26–14:12
7
How can renovations improve lifestyle and property value?
14:12–14:24
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