Renovation Dilemma: Investment Property Edition

One of the most common questions Simon Abbott hears from Victorian unit block and apartment owners is, “Should I renovate before selling?” His answer is always practical—focus on what actually drives buyer value.

Renovation vs. Presentation: Simon’s Rule

• Carpet and paint matter: Cheap, cosmetic upgrades (fresh carpet, updated paintwork) present the property better for minimal spend.
• Kitchens and bathrooms: Simon’s experience: these often don’t add dollar-for-dollar value ahead of sale and can overspend easily.
• Avoid overcapitalising: The most painful vendor regrets are expensive upgrades that investors do not value in yield-driven buys.

Scenario: Investor vs. Owner-Occupier Buyer

Real case: Simon sold a block “as is” to cashflow-focused investors who preferred existing, durable tenancies and saw no point in upgrading kitchens that tenants already accepted. Conversely, owner-occupier buyers sometimes want perfection—but for blocks and tenanted stock, investor logic prevails.

What’s Worth Doing Before Sale?

• Repair anything broken—maintenance is non-negotiable.
• Clean thoroughly and declutter.
• Consider new flooring or paint only if it’s clearly tired.
• Don’t chase trends; neutral is safest.

Simon’s Tip:

“Ask your agent to show comparable sales—did the highest prices go to brand-new fitouts, or were the winners just well-maintained? In most block sales, investors want clean, reliable, low-maintenance assets, not bells and whistles.”

Want to maximise your investment property sale without wasting money? Contact Simon Abbott for a specific plan.