BiG Tips: Whether you’re buying your first or later home, or investment property, location is important, as it impacts on the lifestyle you can experience there – the socio economics, schools, transport, shopping and more. If it’s a place for you to call home, maybe you’ll hold the property and live there for many years. But whatever your reason for buying property, rather than just rely on natural growth in the capital value, you might also want to look at the potential to add value to the property in some way.
Here are some ways to actively increase the value of a property, and some mistakes to watch out for:

• Renovating
  10 Mistakes To Avoid When Renovating For Profit, Real Estate Investar
  Your Complete Guide to Renovating for Profit, Michael Yardney
  
• Developing
  How to get started in property development, Peter Koulizos He says: “There are many articles, magazines and books that cover property development but I would highly recommend two books written by Australian author,
  Ron Forlee: Australian Residential Property Development: A Step by Step Guide, and An Intelligent Guide to Australian Property Development. They are very easy to read and full of useful tips.”
  
  [Podcast] 12 Steps to a Profitable Property Development –  Peter Koulizos, The Property Couch 
  
• Changing use
  
• Subdividing, Community or Strata Titling
  
• Land Banking
  Land banking. A property investment scheme with many risks – MoneySmart (ASIC)
  They say: “ASIC has taken action against land banking schemes run by Askk Investment Group, VKK Investments Unit Trust, Realestate Equity Investment Trust (REIT), 21st Century land banking companies and Midland Hwy.”