An investment property can be a valuable asset. You can rent it out long-term, use it as a holiday rental, or even sell it down the line. Regardless of which option you choose, it's important to make the property look as attractive as possible. This can help make it more marketable, allowing you to command a higher price when renting or selling. Below, discover ways you can upgrade your property's appearance that have a high return on investment.
Remodel the kitchen
Remodeling the kitchen of your investment property can provide several benefits, such as increasing the value and appeal of the property, attracting more potential renters or buyers, and improving the functionality and efficiency of the space. Additionally, it can lead to higher rental rates or selling prices, which can result in a higher return on investment in the long run. Once you’ve made the decision to remodel your kitchen, get a quote from the experts at Boynton Kitchen & Bath Remodeling!
Swap out the doors and windows
Doors and windows impact a home's functionality and aesthetics. If they're old and worn, update them. For extra impact, consider investing in energy-efficient windows. As the Department of Energy explains, these windows reduce heat transfer. This means that cold air stays out in winter while warm air stays in. In contrast, in the summer, warm air stays out, while cool air stays in.
Update the flooring
A home's floors can also make a significant difference in both utility and appearance. In some cases, you may be able to keep the existing floors and simply refurbish them. For example, hardwood floors can often be sanded and sealed to make them look new. If the floors are so damaged that they need to be replaced completely, look at energy-efficient flooring materials like stone and tile.
Add more storage
Storage space is a big draw for many people when they're looking for a property to rent or buy. Adding storage space in the form of extra closets or cupboards can bring a great return on investment. For bigger properties, a walk-in closet is a smart choice. According to Lifestyle Wardrobes, consumers love the convenience of walk-in closets since they provide plenty of space plus ventilation.
Update the landscaping
Landscaping plays a big role in curb appeal—the first impression a person gets when they see a house. Consult gardening blogs like HomeGardenHero on how to make your shrubs, trees, and flowers thrive.
Adding a metal plaque out front—for example, displaying the address—can also ramp up the appearance for minimal cost. Consider this option, which lets you order tailor-made cut metal signs and personalize details like size, lettering, borders, thickness, and more.
Add a fresh coat of paint
Beyond updating the landscaping, another step you can take to boost a property's curb appeal is to repaint the exterior. When selecting a shade of paint, make sure you're picking complementary hues for the main structure and the trim. For example, white goes well with both light green and teal.
Install modern appliances
If the property's appliances are on the older side—say, more than five years old—an upgrade can be beneficial. Examples of possible upgrades include a new refrigerator, washing machine, dishwasher, and dryer. When getting new appliances, prioritize energy-efficient models that save power. This can be an attractive plus for renters and buyers since it saves them money on their electric bills.
An investment property is a great way to make some extra money. To maximize profits, implement high-ROI upgrades, like adding a metal plaque and a fresh coat of paint. With the right upgrades, you can own a profitable investment property.
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