11/09/2026
โGood things do not come easy. The road is lined with pitfallsโ - Desi Arnaz
After the 2026 budget reforms, we are seeing investors electing to sell off lower rental yield properties, or properties that might soon need money spent on them.
Coupled with the persistent low stock levels across the western suburbs, many owner occupiers are electing to renovate their own homes.
This is due to having additional funds released from the sale of the investment property or the inability to find another property to buy โ or both.
Renovating to make your existing home more suitable or contemporary makes a lot of sense financially. Just the stamp duty saving aspect alone might fund a new kitchen.
However, there are pitfalls to avoid as not every renovation is a good one.
Overcapitalising for the location. Spending $180,000 on a kitchen in a $750,000 suburb will not automatically add $180,000 to the value. Buyers pay for light, layout, storage, bathrooms, outdoor living and general amenity. They do not necessarily pay for your expensive stone or appliances. Money spent above what the local market will absorb is a lifestyle choice, not an investment.
Renovating a poor floorplan, even if you do it beautifully, will still end up a poor floorplan and buyers may disregard the entire renovation. Get a local agent through the house before you sign up with the builder. Design for the next ownerโs floorplan, not this yearโs magazine.
Choosing colour palettes or features that you adore, but unfortunately only you. Unless you plan on living in the home and enjoying that orange kitchen for many years, consider another option.
We have a full day of opens tomorrow so I am sure there is something perfect for you.
