A popular method for property investors looking for a quick turnaround in Australia's market is to purchase a home with the intention of renovating it in the short term, before selling it on for a profit.
If you're looking into investment opportunities in real estate in Carlton, this could be a great option to consider – especially with the continued popularity of Sydney property over the last few years.
However, before you choose a house, you'll want to make sure you aren't buying a home that requires more extensive fixes than meets the eye. For example, a property with bad plumbing or rotting materials is likely to cost you more to repair or replace than what you outlined in your initial renovation budget.
This is why it's important to get a detailed property inspection done before committing to a property. These will outline any issues with the home – both aesthetic and more deep-rooted – to help you make an informed investment decision.
Ensuring you get exactly what you bargained for is the best footing to begin your renovation project. Get in touch with a local real estate agent today to begin investigating the properties available in the Carlton community.