How often should a property be renovated?

[IB D]

On one hand, you want to keep your property in good condition to attract tenants and increase its value. On the other hand, renovations can be costly and disruptive. So, what's the ideal frequency for renovating a property?

Some say it's necessary to renovate every 5-10 years to keep up with changing trends and maintain the property's value, while others argue that renovations should only be done when necessary, such as when systems or appliances break down.

What's your take on this? How often have you renovated your property, and what factors influenced your decision?

 

[Barida]

As soon as the property is very bad, then a renovation should be done. One thing is when there is a case of the property costing much, then it may take more time.

 

[Bisolami]

On one hand, you want to keep your property in good condition to attract tenants and increase its value. On the other hand, renovations can be costly and disruptive. So, what's the ideal frequency for renovating a property?

Some say it's necessary to renovate every 5-10 years to keep up with changing trends and maintain the property's value, while others argue that renovations should only be done when necessary, such as when systems or appliances break down.

What's your take on this? How often have you renovated your property, and what factors influenced your decision?

The property should be renovated whenever you realise that the property is getting bad and there is no other way than to renovate it.

 

[Chibson]

Renovating your property in a period of five years is not bad. You need to make it newer everyday.

 

[Springtime]

I would think that renovating the property every 5 years is ideal to ensure that it is in good condition.

 

[Shavkat]

It is ideal every after 5 years. Most tangible things depreciate in this period, so renovation can take place in this matter.

 

[LoukiaCharilaou]

I think that every 5 years, you should renovate your property.

 

[cherry123]

For me when it gets extremely bad it should be renovated. No need waiting any longer

 

[Chibson]

I think that every 5 years, you should renovate your property.

I also share the same opinion. If a particular property is not renovated from time to time people may not use it again because it will look old.

 

[cherry123]

I also share the same opinion. If a particular property is not renovated from time to time people may not use it again because it will look old.

Sure you would have to keep your property updated to bring in more customers

 

[LoukiaCharilaou]

I also share the same opinion. If a particular property is not renovated from time to time people may not use it again because it will look old.

Yes, if a property is not renovated from time to time, then it will be destroyed.

 

[Chibson]

Sure you would have to keep your property updated to bring in more customers

Probably, if you keep your property renovated from time to time the price of it will probably be high. That means you will be making a lot of profit.

 

[cherry123]

Yes, if a property is not renovated from time to time, then it will be destroyed.

Yeah so it will need to be renovated and this will help to increase its value

 

[Chibson]

Yeah so it will need to be renovated and this will help to increase its value

constant renovation is always very important for the value of a property to increase. It should be done at most the period of 5 years.

 

[cherry123]

constant renovation is always very important for the value of a property to increase. It should be done at most the period of 5 years.

Definitely, I think a lot of landlords know this I see a lot of them do this though here

 

[Chibson]

Definitely, I think a lot of landlords know this I see a lot of them do this though here

of course landlords that are knowledgeable always renovate their houses from time to time to attract people who will pay them reasonable amount of money.

 

[cherry123]

of course landlords that are knowledgeable always renovate their houses from time to time to attract people who will pay them reasonable amount of money.

Yeah I hope others that needs to know about this are aware and try to increase the value of their property this way

 

[Chibson]

Yeah I hope others that needs to know about this are aware and try to increase the value of their property this way

I think almost all of them are already aware of the fact. It is something so many people have been doing for a while.

 

[cherry123]

I think almost all of them are already aware of the fact. It is something so many people have been doing for a while.

Okay then good for them all. You need good money then you must put your property in order

 

[Chibson]

Okay then good for them all. You need good money then you must put your property in order

Yeah, I think it is important to budget some percentage of the yearly rentage from tenants for renovation.