Many people decide to buy a property based on its future potential, rather than its current condition.
Although this is a smart move when looking to maximize your investment, it is not always as simple as it sounds.
Often people will decide to put in a swimming pool or add another story on the house to mirror a property up the road.
However making modifications or alterations to a property will invariably require council approval and satisfy other legal conditions such as permits where necessary.
The cost of these improvements can also often exceed your expectations once everything has been factored in.
This is why it is always important to carry out full investigation on any proposed changes before you buy, to make sure you don’t end up disappointed.
Source: REINSW By Tim McKibbin – REINSW CEO