Upstairs, timber panels were added to the staircase, while peg boards were used in the kids’ bedroom and the home office.
All in all, he didn’t make the townhouse any bigger. He didn’t build an extension or install a more modern kitchen.
But he did make it feel better.
I’m not telling you to go and renovate townhouses
I want to be really clear. Investors shouldn’t rush out and do similar renovations. (At least not yet).
One of the benefits of buying New Builds is that they don’t typically need renovating.
After all, everything is new.
So, unlike an older property, there’s often no obvious renovation project that will add significant value.
Maybe you spend $40k … but the property only goes up by $20k … or nothing.
But investors also tell me that they are worried that if they buy a modern townhouse, they’ll all look the same when it comes time to sell.
And some home buyers look for something a bit different. Not just square metres and bedrooms. A cosy space they can live in comfortably.
And this type of renovation might be something to consider when it comes time to eventually sell your property, because that’s one way you could make your property stand out.
Just because a townhouse starts out looking similar to the others doesn’t mean it always will
