Renovating, and Building Equity in Your Home: Tips For Owner-Builders

HOME renovation is one of the soundest investments an owner-builder can make. But with about a quarter of makeovers estimated to be done by owner-builders, you have to do it right.

Renovation-related television shows, magazines and seminars are inspiring would-be renovators and making people realise that investing in real estate does not necessarily mean buying an investment property. Many are unlocking potential in the family home and benefiting from the tax-free windfall.

“Property renovation is one of the soundest investments you can make,” says Robert Caulfield, managing director of Archicentre, which provides pre-purchase and renovating advice to home buyers, builders and renovators. “When done properly, it can make you money – and have you living in style.”

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Owning Property to Live Off, Rather Than Live in

AT A RECENT auction in Prahran, a family of four was bidding against a single, first-time home buyer for a one-bedroom apartment close to Prahran train station, the trendy Boutique nightclub on Greville Street and Swinburne University.

The apartment included a modest living room, big enough for a couch, armchair and four-seat dining table, a compact kitchen, a small bedroom able to fit a queen-size bed and two side tables, and an ensuite bathroom. Hardly big enough to accommodate the growing family.

Eventually, the family of four outbid the prospective first-home buyer, in what is becoming an increasingly familiar series of events all around Melbourne.

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Maximising Technology to Sell Your Home

YOU KNOW you are well and truly in a new century when selling your home requires a web designer and domain name administrator.

Many new campaigns – including that of the $18 million Melburnian penthouse, and Clinton Casey’s outgoing $21 million Avon Court mansion – incorporate movies and require the expertise of a production company!

The advent of gadgetry such as portable MP3 players, 3G-capable mobile phones and satellite navigation systems is changing the way real estate is bought, sold and leased in Australia. It’s not just about the internet or SMS alerts any more. Today, the traditional print media campaign is backed by podcasts and interactive TV.

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