When you’re looking to buy a property, how can you truly tell if it has renovation potential? That’s the question we dive into in this episode. With a focus on the top six things to look for, we cover what adds value and what doesn’t, how to spot hidden costs, and which projects are best left untouched.

We start with why location is key, and why it’s something you must get right before you even think about renovations. We also break down the difference between a cosmetic facelift and a full-on renovation project, so you can figure out if you’re better off avoiding that fixer-upper. You’ll hear about the importance of good bones, solid maintenance, and why not all renovations will actually increase your property’s value.

We also deep dive into how the layout and orientation of a property can impact both livability and resale value. Plus, we touch on the importance of flow—because no one wants a home that doesn’t make sense, no matter how nice it looks. And let’s not forget those big expenses like rewiring or re-stumping. They’re essential, but we explain why they don’t always add the kind of value you might expect.

By the end of this episode, you’ll have a much clearer idea of what to look for when assessing a property’s renovation potential. So if you’re ready to dive into the nitty-gritty and avoid making costly mistakes, we’ve got you covered! Tune in for all the details.

Episode Highlights:

00:00 - Introduction

02:16 - Example of a home that you wouldn’t want to bother renovating

03:41 - The importance of location when choosing a property

08:14 - Top 6 things to look for when assessing the renovation potential of a property

08:36 - Number 1: Bones of the property/Structural soundness

11:42 - Number 2: Is it well-maintained or neglected?

17:27 - Number 3: Orientation

20:22 - Number 4: Layout

24:48 - Number 5: Ensure appropriate room proportions for the upgraded layout

28:33 - Number 6: Feasibility

30:54 - Non-value adding renovations — necessary but don’t necessarily add value

37:43 - Danger zones — things you can’t fix

Resources:
FREE MINI COURSE: How to price property like a professional https://www.homebuyeracademy.com.au/freecourse
Meet our recommended mortgage brokers at Home Buyer Academy https://homebuyeracademy.com.au/brokers
Visit our website https://www.homebuyeracademy.com.au/
Join our Facebook Group to get access to free monthly live Q&A sessions
https://www.facebook.com/groups/yourfirsthomebuyerguideaustralia
Learn how to buy property without making a mistake with our ultimate 10-step online course for first time home buyers https://homebuyeracademy.com.au/YFHBG
If you have any questions or would like to be featured on our show, contact us at: Your First Home Buyer Guide Podcast -support@homebuyeracademy.com.au
Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
Work with Veronica: https://www.veronicamorgan.com.au
Looking for a Brisbane Buyers Agent? https://www.propertypursuit.com.au/
Work with Meighan: https://www.linkedin.com/in/meighanwells/

If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey!
Subscribe on YouTube: https://www.youtube.com/@YourFirstHomeBuyerGuidePodcast
Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825
Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f

When you’re looking to buy a property, how can you truly tell if it has renovation potential? That’s the question we dive into in this episode. With a focus on the top six things to look for, we cover what adds value and what doesn’t, how to spot hidden costs, and which projects are best left untouched.
We start with why location is key, and why it’s something you must get right before you even think about renovations. We also break down the difference between a cosmetic facelift and a full-on renovation project, so you can figure out if you’re better off avoiding that fixer-upper. You’ll hear about the importance of good bones, solid maintenance, and why not all renovations will actually increase your property’s value.
We also deep dive into how the layout and orientation of a property can impact both livability and resale value. Plus, we touch on the importance of flow—because no one wants a home that doesn’t make sense, no matter how nice it looks. And let’s not forget those big expenses like rewiring or re-stumping. They’re essential, but we explain why they don’t always add the kind of value you might expect.
By the end of this episode, you’ll have a much clearer idea of what to look for when assessing a property’s renovation potential. So if you’re ready to dive into the nitty-gritty and avoid making costly mistakes, we’ve got you covered! Tune in for all the details.
Episode Highlights:
00:00 - Introduction
02:16 - Example of a home that you wouldn’t want to bother renovating
03:41 - The importance of location when choosing a property
08:14 - Top 6 things to look for when assessing the renovation potential of a property
08:36 - Number 1: Bones of the property/Structural soundness
11:42 - Number 2: Is it well-maintained or neglected?
17:27 - Number 3: Orientation
20:22 - Number 4: Layout
24:48 - Number 5: Ensure appropriate room proportions for the upgraded layout
28:33 - Number 6: Feasibility
30:54 - Non-value adding renovations — necessary but don’t necessarily add value
37:43 - Danger zones — things you can’t fix
Resources:
<ul>
<li aria-level="1">FREE MINI COURSE: How to price property like a professional <a href="https://www.homebuyeracademy.com.au/freecourse">https://www.homebuyeracademy.com.au/freecourse</a></li>
<li aria-level="1">Meet our recommended mortgage brokers at Home Buyer Academy <a href="https://homebuyeracademy.com.au/brokers">https://homebuyeracademy.com.au/brokers</a></li>
<li aria-level="1">Visit our website <a href="https://www.homebuyeracademy.com.au/">https://www.homebuyeracademy.com.au/</a></li>
<li aria-level="1">Join our Facebook Group to get access to free monthly live Q&amp;A sessions</li>
<li aria-level="1"><a href="https://www.facebook.com/groups/yourfirsthomebuyerguideaustralia">https://www.facebook.com/groups/yourfirsthomebuyerguideaustralia</a></li>
<li aria-level="1">Learn how to buy property without making a mistake with our ultimate 10-step online course for first time home buyers <a href="https://homebuyeracademy.com.au/YFHBG">https://homebuyeracademy.com.au/YFHBG</a></li>
<li aria-level="1">If you have any questions or would like to be featured on our show, contact us at: Your First Home Buyer Guide Podcast -<a href="mailto:support@homebuyeracademy.com.au">support@homebuyeracademy.com.au</a></li>
<li aria-level="1">Looking for a Sydney Buyers Agent? <a href="http://www.gooddeeds.com.au">https://www.gooddeeds.com.au</a></li>
<li aria-level="1">Work with Veronica: <a href="http://www.veronicamorgan.com.au">https://www.veronicamorgan.com.au</a></li>
<li aria-level="1">Looking for a Brisbane Buyers Agent? <a href="https://www.propertypursuit.com.au/">https://www.propertypursuit.com.au/</a></li>
<li aria-level="1">Work with Meighan: <a href="https://www.linkedin.com/in/meighanwells/">https://www.linkedin.com/in/meighanwells/</a></li>
</ul>
If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey!
<ul>
<li aria-level="1">Subscribe on YouTube: <a href="https://www.youtube.com/@YourFirstHomeBuyerGuidePodcast">https://www.youtube.com/@YourFirstHomeBuyerGuidePodcast</a></li>
<li aria-level="1">Subscribe on Apple Podcasts: <a href="https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825">https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825</a></li>
<li aria-level="1">Subscribe on Spotify: <a href="https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f">https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f</a></li>
</ul>

Your First Home Buyer Guide. Get there without missing a step.

Your First Home Buyer Guide. Get there without missing a step.

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