Planning a property renovation can be simultaneously exciting and challenging. Thinking of the things you’d like to change about the property’s layout or making a dingy room something beautiful and enjoyable can be very rewarding. Property renovations can be a big job, though, and plenty of people have great ideas but lots of questions about what they should and shouldn’t do. Lets take a look at some frequent questions that come up often and the best answers about property renovation projects:

What’s the best way to start a property renovation project?

Read. There are plenty of books out there on the market that will help with any property renovation, from painting and changing wallpaper to knocking down walls and wiring. Reading everything you can about the project you have in mind can save you time and money by giving you great tips on where to put your effort. There are also lots of how-to books in the stores that will help you with your project from start to finish, and knowing what you’re doing will save you a lot of headaches or mistakes that end up costing you money.

Are there property renovation projects that can increase the value of a property?

Absolutely. When you’re thinking of trying to do some property renovation to sell a property for a profit, invest your money in the more high-traffic areas, such as the living room, kitchen, and bathroom. Flooring is another good place to sink some money, and the choice of options as well as ease of changing flooring makes this area a nice project to undertake. Freshening up rooms with a little colour can help increase the appeal of your property. Bedrooms come in a close second for best renovation areas, but keep in mind that investing in updating the look of the kitchen will go a lot farther when you’re trying to resell.

What are some property renovation projects that aren’t going to give a good return on the investment?

Home offices are rooms that don’t really add anything to the resale value of your property. You’d be better off giving the room a fresh coat of paint and changing the flooring, then leaving the purpose of the room up to potential buyers. Many people don’t consider a home office an attraction or a good reason to buy one property over another. Fancy items such as jacuzzi’s fall into this same category – they can be a great selling point if you have a buyer that’s specifically looking for one, but most people don’t consider such things an advantage.

Is doing property renovation yourself a worthwhile undertaking?

Yes and no. Thinking about changes to a property and its potential can be fun and exciting, but there are some areas that are better left to professionals. Having a contractor come in and hear about your ideas is a good thing to do, as a professional can provide you with some proper plans and point out some areas of the project that you may not have considered, such as headspace or lighting.

Is it better to do property improvements yourself or hire a professional?

That’s a question that’s better answered by asking how skilled you are in building work and how determined you are to see a plan through to completion. A lot of property renovation projects need qualified professionals, such as electrical work or major plumbing installations, and contractors can help you with design and planning, but there are other projects you can undertake yourself to save some money, such as flooring or painting.

So you can see that property renovation can be a great way to earn a living, but it does carry it’s own risks and challenges. Probably the best piece of advice anyone can give a budding property developer is that research is the key. Research your property for renovation, research your plans, take time to research your team and you will be ready for anything. Good luck with your property renovation career.

Thailand is becoming an ever more popular retirement and choice of country to live with its low costs and beautiful scenery not forgetting of course the world famous friendliness of the Thais themselves. But finding out about the laws governing property ownership here can be confusing. Here are the bare bones of Thai property Law

* A foreigner can own a condominiums long as less than 40% of the condos or apartments in the building are owned by foreigners. Many people believe it to be 49% although this regulation was an addition to the existing law and was only meant to be in place for one year and has since expired.

* A company can own property such as land and a house (and hence the foreigner can buy land and a house via their Thai registered company) as long as no one foreigner owns more that 39% of the company (recently amended from 33%) and total foreign ownership of the company does not exceed 49%.Still ambiguous and under review.

* The Thai wife of a foreigner can own property (a recently changed legal status due to gender equality in the new 1997 constitution revision), in her name only. This is fine as long as you don’t have marital problems. (The same, of course, goes for a Thai husband, but the law was changed recently for Thai wives due to the new constitution guaranteeing equal rights.)

* A foreigner can lease land for 30 years, with an option for another 30 years, the first 30 years are guaranteed they are registered with the Land Department, however the second can be contested.

* If you gain BOI approval you may as a company is able to buy up to one rai of land. Although this is meant for very large investors.

At the end of the day if you are seriously looking to invest in Thailand you should consult a good lawyer who will be familiar with the latest property laws.