If your property needs repair or you’re considering a few renovation projects to get it ready for sale, there are a few things you need to consider first.

Although well-planned, cost-effective renovations can add value to a home, there is always the risk of over-capitalising. That’s why it pays to consider the types of renovations that add value and appeal to potential buyers. So, when you’re looking to sell, when shouldn’t you renovate?

Remember, renovating for your own personal use and renovating to attract a wide range of potential buyers are two different things. It all comes down to your return on investment or ROI. Basically, you’ll want to ensure the amount you invest in the renovation is less than the value you’re adding to the property, and the sale price you’re likely to achieve…