Property Investment News | (Don’t) DIY

Unless you’re qualified or experienced, it’s best to leave fix-it jobs to the professionals.

With the onset of the pandemic, more and more people have been turning to DIY as a way to kill time during lockdown.

Taking care of jobs on your own can seem like a cheap and reliable way to fix up your home or investment property. However, while a DIY job might seem like a cost-effective idea, there is actually research to show that you will probably be better off getting a professional in.

The problem with attempting a repair on your own is that, unless you really know what you are doing, you risk doing something wrong. Some figures say that as many as one in five people who set out to do their own renovations muck them up. This means you pay twice; first for the materials and time, then for the cost of a tradie to come in and fix everything.

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On top of this, doing your own extensions or repairs around your investment property or even your own home risks violating codes. Get in a licenced and insured tradie, especially for any plumbing, electrical, fire alarm or security system jobs and they will know the rules and regulations. This protects you from being financially liable if something goes wrong. Remember that your insurance may not cover you for a job you have done yourself.

renovation

If you’re a landlord, play it safe and get a professional in to do the job. The cost will be tax-deductible and you’ll have better peace of mind. Your property manager can recommend a reliable and cost-effective expert who will ensure a job well done and save you from a DIY disaster.

If you have any questions, or need clarification on any of the above, please contact Anna Marten, our Head of Property Management, on 9651 1666 or anna@guardianrealty.com.au.

Important note: Clients should not rely solely on the content of this newsletter. All endeavors are made to ensure the content is current and accurate however, we make no representations or warranties as to the accuracy, reliability, completeness, or currency of the content. Readers should seek their own independent professional advice before making decisions.

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