Throwing money at a property does not guarantee success. The reality is that finding the right updates, upgrades and improvements is not about money, but rather doing the right work for the market. Simply throwing money at a property and expecting a return will leave you frustrated and disappointed. Savvy investors know that not all updates are created equally. A large infinity edge swimming pool sounds great on the surface, but if it takes up most of the backyard it will be viewed as a negative rather than a positive. On projects with a limited budget just a few mistakes will leave you in the red scrambling for ways to recoup your investment. Without many options you will quickly turn a positive property into one where you are forced to take what you can get and move on. Here are five property improvements that look good on the surface but are usually more trouble than they are worth.
Don’t throw money at a property until you know what you are getting in return. There is a big difference on an update you would do for your personal residence and one you would do for a rehab property.