Property Types
Renovator Properties
A renovator is a property bought with the intention of adding value through improvement. Done well it can create equity; done poorly it can erode it.
Adding value through work
Renovator properties are bought below their improved potential, with the aim of lifting value through updates. The classic approach is to buy the worst house in a good street, since the location does much of the heavy lifting.
The goal is for the finished value to comfortably exceed the purchase price plus renovation cost.
Cosmetic versus structural
Cosmetic work — paint, floors, kitchens, and bathrooms — is generally lower risk and easier to budget. Structural work involving foundations, layout changes, or approvals is more complex and can uncover expensive surprises. Knowing which you are taking on shapes the risk.
Getting it inspected
A building and pest inspection is invaluable before buying a renovator. We introduce you to independent, licensed inspectors and buyers' agents so you go in with eyes open.
Related reading
- Inspector introductions — know what you are taking on before you buy.
- Property inspection checklist — what to look for when assessing a renovator.
Frequently asked questions
Is renovating always profitable?
No. Overcapitalising or hitting structural surprises can erase the gain. Careful budgeting and inspection reduce the risk.
Should I get an inspection before buying a renovator?
Strongly recommended. A building and pest inspection can reveal hidden issues that change the numbers entirely.