Real estate investing can be a good source of income. With a suitably maintained property, you can sell it or have it rented by guests or tenants. But before you can enjoy this benefit, you have to work on renovating your property first. This is an essential step for your property to stand out from the competition and haul in buyers in the long run.
Websites like https://www.nexushomebuyers.com make it easier for you to advertise your property in public. But with the number of competitors present today, merely posting your property online isn’t enough; you also have to strive in making your property look more appealing. Here are some renovation tips to help you out:
1. Always Consider Your Street Appeal
Your future guests and tenants will stay inside your property, but this doesn’t mean that you should completely disregard the exteriors. On the contrary, you should pour in the same amount of effort in making your exteriors look good, much in the same way you’re doing indoors. How your property looks from the outside can influence a buyer’s decision of whether or not to purchase it. Before you post your property on Element Homebuyers or other reputable websites, work on improving its street appeal first by following these tips:
- Start by pruning or cutting overgrown trees in your property. Wilting and old plants should also be replaced with new ones. This simple trick can make your property look more spacious and fresher.
- If your budget allows it, you can also resurface any cracks in the driveway or widen an old footpath in your property. You can also consider upgrading your front porch or adding an off-street parking area within the property.
- While you’re at it, don’t forget to improve the little details such as the house number, letterbox, and garage doors. These elements can significantly improve the overall aesthetics of your property.
2. Work On Renovating The Kitchen, Too
The kitchen can be considered as the heart of every property. This is where families prepare meals and bond with each other. If you want to raise the value of your property, work on renovating the kitchen, too. Here are some tips to help you out:
- Renovating your kitchen can be a good idea but remember not to go overboard. The next owners of your property might want to leave a mark on their own kitchen so provide a room for them to do just that.
- You can opt for simpler kitchen upgrades such as replacing the splashbacks, handles, and bench tops.
- You can also throw in a few extra features such as a water filter, industrial-style lighting, and built-in rubbish bins. Just make sure that you’re using the same color schemes for these elements to create a consistent and clean look.
3. Upgrade The Bathroom
Your property will never be complete without a bathroom. Aside from working on its aesthetics, you should make sure that your bathroom is clean and functional at the same time. No matter how affordable or spacious your property is, if it doesn’t have a functional bathroom, don’t expect that you’ll be getting any buyers anytime soon. You can try out the following ideas for your bathroom:
- If you want to attract buyers, consider adding a second bathroom and toilet in your property. This is an uncommon feature that will surely be enticing.
- On the other hand, if you have a limited budget, opt to have minor changes in your bathroom. You can start by replacing all of your doorknobs, drawer handles, or toilet seat.
- You can also look into adding water-saving measures in your bathroom, namely eco-friendly taps and shower fittings. These features will surely impress any dollar-wise property buyers.
4. Strive To Maximize Available Storage
The availability of storage is also an essential consideration for most buyers. Buyers would opt to purchase a property that can provide them with more storage, especially if they have a big family. To cater to this demand, maximize available storage in your property by following these steps:
- Check the cabinets in your property and make sure that all of the hinges are working properly. Repair or replace all hinges whenever necessary.
- Get creative with storage and attach cupboards and shelves on the walls. Depending on the available space, you can add these in your kitchen, living area, or bedroom.
- You can also use your ceiling as additional storage space. You can add overhead storage by using building materials and clear storage boxes. This storage idea can be an excellent option for your garage.
5. Choose The Right Lighting
When most real estate investors hear the word “renovation,” they would immediately think about what possible furniture and appliances they should purchase. There’s nothing wrong if you have the same mindset, but you should never forget about the lighting of your property. Your choice of lighting can significantly affect how your property will look and feel. Here are some tips for you to choose the right lighting:
- If your property is too dark, invest in windows and skylights. These can be advantageous, especially if your property is surrounded by picturesque scenery.
- There are a lot of lighting options available today. To help you narrow down your search, consider how these lightings are used in a room, and set a budget for it. The lights you’ll use in your living area won’t be the same as the lighting in your bedroom.
- Take the time to scout for low-cost LED options for your property. You’ll be surprised how a simple lighting fixture can make your space look functional and modern.
Use All The Help You Can Get
No matter how small or minor the renovation is, you should still think carefully before starting the project. Aside from the time and money it’ll require from you, renovating your property just for the sake of it can also decrease its value over time. Steer away from this direction by using this article as your guide. Use all the resources you have to come up with a sound decision on what you should and shouldn’t do for your next property renovation.