It is common practice amongst private property owners to seek out houses that require renovating before selling on for higher profit margins — or letting out for better monthly returns. The concept sees such popularity because, to put it simply, it works. Repairs and improvements take time, but the investment has the potential to reap serious rewards.
An extreme example of this is a couple who bought a house for a pound, then spent months renovating the place, to receive a valuation
of £60k. Obviously, you’ll be unlikely to see a percentage profit increase rivaling that property, which saw a rise in near 6,000,000%, however, there is plenty of money to be made.
When it comes to actual property improvement, though, many get caught out thinking they can handle the entire job themselves. Some tasks that increase property value are easily done by the landlord, but others really should be...