Location, purchase price, and budget are all important factors to consider when finding a renovation property. Picture: istock.RENOVATING a property can be tricky and unless you have the experience, it’s best to leave the hammer and nails to the professionals. However its location, purchase price, and budget are all important factors that are under your control, according to REIQ Cairns zone chairman, Tom Quaid.He said it was important for the renovator to understand both the suburb and the street where the project was being planned.More from newsCairns home ticks popular internet search terms2 days agoTen auction results from ‘active’ weekend in Cairns2 days agoLocation, purchase price, and budget are all important factors to consider when finding a renovation property. Picture: istock.“When you’re renovating a home, the last thing you want to do is have the home you’ve just done as the best one on the street, because anybody coming in as a potential purchaser is going to be looking at the values everywhere else along that street,” Mr Quaid said.“But if you took a home that was the worst on the street in the $200,000s, you’ve spent your $50,000 and then it’s valued at $300,000 – that’s where you really want to be.”He recommended choosing a location where the eventual resident will benefit the most. “So anywhere that you’ve got a tight supply. People want to be in an area such as Edge Hill, Whitfield, the M suburbs – Manunda, Manoora and Mooroobool, because they’re fully developed and they’re close to amenities.”Mr Quaid said old Queenslander homes were perfect for renovations because they proved less restrictive.