Defining Strategic Renovation

Every renovation decision that you make should be strategic and quantifiable.

So it’s not doing it for yourself, [that’s not strategic] it’s emotional. It’s based on your wants or what you like.

But strategic renovation is making that change or making that improvement because it strategically adds value to the property and value that you can quantify.

You look at another comparable property at the renovated level and that’s the standard you’re renovating up to.

Strategic is part of a long-term game plan. If I think of a strategic exercise or strategic plan, I think of each component has its place, but it all contributes to the end goal…

It’s around having that strategic action plan that says: ‘Where am I going to spend my money? Where am I going to get the best value?’ And it’s almost looking at that cost benefit analysis for every single decision.

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