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The Hidden Cost of Renovating by Patrick Bright
The hidden cost of renovating
Now is certainly a good time to add value to your property, particularly for investors who are looking to manufacture equity and increase their rental returns allowing them to add to their property portfolio sooner rather than later.
If you’re going to renovate then the first decision to be made is if you are going to manage this process yourself or engage a project manager. If you decide to go it alone rather than hiring an experienced project manager then you need to make sure you’re prepared. Here are a few tips to make sure you start the project with a realistic outlook:
To start with you should budget in the time that the renovations will take to complete. You do need to put a value on your time and the easiest way is to do this is to work out your current hourly rate and multiply it by the estimated hours it ...........
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