I have heard many people promote the merits of renovating investment properties to make a profit…but I disagree!

You see, what people fail to realise is that Money is only ONE of THREE resources that we must spend wisely.

The other two are Time and Resilience (or how much stress we can handle). Sure you can make money from renovating BUT! ….you have to spend a lot of your “Time” and a lot of your “Resilience” to do it. Renovating is stressful! Trust me I’ve tried it.

The reality is that we are all very busy with work and family commitments as it is. While TV shows like Backyard Blitz and The Block make it look easy and fun, what you don’t see is the army of tradies and labourers behind the scenes that do all the hard work.

Also a word of caution…there is a reason why there are training courses for tradesmen… most tasks take skill and experience to do right.

If you’re not a tradie, and you value your spare time…don’t renovate! Just buy a property in a location where the market is booming and let the market do all the work.

Leave your comments below

comments