IntroductionRenovating for capital gain can be an effective way of boosting your property’s value, but should always be carefully considered, with all options and costs weighed up dispassionately. If planning to renovate for the purposes of immediate “value adding” to on-sell or revalue and draw-down equity, or if you are simply aiming to improve the state of a current property, there are important issues to consider. Keep in mind that property investment and renovation are not necessarily inexorably linked. If you are buying a property for trading purposes and plan to renovate and quickly on sell (known as a “fluff and flick” job), then the renovation is probably going to differ from that on a property which you intend to hold for a longer period of time. Whatever the situation, you shouldn’t feel a need to renovate, unless there are some strong reasons as to why this could be beneficial, and it can help you achieve your goals. Part one of this two-part article will explore the two primary reasons for renovating, and part two will offer some suggestions and practical guidelines on how to ensure that you get the most value for money, whether you are looking for rental returns or capital growth.