In this video series Michael Yardney answers your property and investing questions.
This week watch Michael discuss what to do with an underperforming property and is it worth renovating.
This weeks question:
I bought an apartment in Hawthorn 8 years ago for $375,000 and today it’s worth around $500,000 – it needs around $35,000 spent on renovations as it’s getting tired.
I’m disappointed with it’s capital growth over the last 8 years especially if you take into account stamp duty and buyers agents fees that we paid.
Should we renovate it, should we sell it or keep it.
Amanda from Randwick
Please leave your question in the comments section below and we’ll answer it.