Before you commence any renovation you need to determine how long you are going to hold your investment property for.
The longer you hold your property the greater likelihood of the properties value increasing.
If you can, it is generally recommended to hold a property for 10+ years. Once you know how long you plan to hold your property you can now start to plan the extent of your renovation.
As a rule of thumb the longer you hold the more likely you will recover the cost of your renovation.
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