Whether you’re renovating a property to hold or to sell, thorough research is vital. Just like you must lay the concrete to build the house above, it’s critical that you complete the underlying research before carrying out the deal. Get this right and everything else with fall into place.
Cherie and Stephen recommend targeting a general region before narrowing down further to select individual suburbs. Consider the factors below when making your decision.
Your borrowing capacity will largely dictate which region you can afford to buy in. Once you’ve decided on your region of choice, you can narrow your focus to individual suburbs.
You ultimately want to select a cluster of one to three suburbs, preferably located close to each other. This will ensure they share similar demographics and features, as well as the same local council, which will make your job of researching a whole lot easier.

Factors to consider when choosing your suburbs include:
Average annual capital growth
Rental yields
Transport connections
Council/government plans
Predicted population growth
Capital growth drivers
When considering inner-city suburbs, look to:
Lifestyle suburbs: dominated by cafes, restaurants, bars and shops, these will always be in demand and are “renovation goldmines”.
Heritage-listed or land conservation suburbs: a shortage of heritage housing stock or a shortage of land means demand will always outweigh supply. The scarcity factor is a trump card in real estate.
Gentrification suburbs: these are areas undergoing beautification and upgrades, and are primed for renovation. Timing is crucial – buy when prices are low and hold.
Stepsister suburbs: if you can’t afford to buy in a premium suburb, look next door where prices may be more affordable. In time, the premium suburb will become saturated and the prices will flow on to create a domino effect in surrounding suburbs.
For outer-ring suburbs, also consider:
Transport corridors: those with excellent road and rail connections to the CBD. The combination of affordability and an easy commute to work will ensure ongoing demand.
When you have selected one to three suburbs, you need to complete your suburb due diligence. Your aim is to find out absolutely everything you can about the area and the target market, effectively becoming an expert in your suburb/s of choice. This will help you to understand the needs and wants of your potential tenants and buyers – and to renovate your property accordingly.

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. Contrary to popular belief, Lorem Ipsum is not simply random text.

It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock, a Latin professor at Hampden-Sydney College in Virginia, looked up one of the more obscure Latin words, consectetur, from a Lorem Ipsum passage, and going through the cites of the word in classical literature, discovered the undoubtable source.

Nemo enim ipsam voluptatem quia voluptas sit

Lorem Ipsum comes from sections 1.10.32 and 1.10.33 of “de Finibus Bonorum et Malorum” (The Extremes of Good and Evil) by Cicero, written in 45 BC. This book is a treatise on the theory of ethics, very popular during the Renaissance. The first line of Lorem Ipsum, “Lorem ipsum dolor sit amet..”, comes from a line in section 1.10.32.

There are many variations of passages of Lorem Ipsum available, but the majority have suffered alteration in some form, by injected humour, or randomised words which don’t look even slightly believable. If you are going to use a passage of Lorem Ipsum, you need to be sure there isn’t anything embarrassing hidden in the middle of text. All the Lorem Ipsum generators on the Internet tend to repeat predefined chunks as necessary, making this the first true generator on the Internet. It uses a dictionary of over 200 Latin words, combined with a handful of model sentence structures, to generate Lorem Ipsum which looks reasonable. The generated Lorem Ipsum is therefore always free from repetition, or non-characteristic words.