David Johnston – The Property Planner’s Golden nugget: make sure your goals are clear, there are different goals for investment v home, structural v cosmetic. What is the return you are looking for. If you are making structural changes, it pays to get an architect or structural draftsperson, it pays to be clear on the vision at the start. They will add value and evolve your thinking. Document your vision, if you’re doing a renovation over a number of stages of a home – do a part and live in the property and get a sense of what you would like to change after you live in it. A final tip is that it can pay to purchase in a location that you can grow into over time – extend the footprint or go up and that can make it affordable to get into your preferred location.
Cate Bakos – The Property Buyer’s Golden nugget: If you’re thinking about flipping, it is often the quick price movement in the area, that facilitates a high profit. So, if it’s time that can do all the talking, have a think about doing a longer-term flip – get a suitable tenant now, get your planning, approval and do the flip in time.