Ready to buy an investment property? You will likely want to make some renovations and improvements before selling or renting the house. Check out these projects to add value to your investment property! By adding worth of your investment properties, you will be adding money into your wallet over time. Properties with new facilities and features will bring a higher monthly rent, and expectantly help you resale the house for a higher amount. Paint
A fresh coat of paint can instantly change a room. Stick with something neutral and light. Gray is currently a popular choice for interiors. Painting the entire house can get a little expensive, but it can completely alter the home’s appearance. If cost is an issue, consider doing a few of the main living areas, taking care of the bedrooms a few months down the road. Flooring Immediately rip out anything old, dirty and stained. If you are renting your property, consider a heavy-duty, easily cleaned surface throughout. Many rentals will have a tile floor, but you don't have to settle for the standard white squares. You can step it up to add a more modern look. There are many overlay options that look wonderful and that won't make you broke either. You might add carpeting in the bedrooms. In that case, pick neutral colored, durable, and well priced. If this is a long-term investment, you might find yourself replacing the carpet few times as tenants move in and out. Curb Appeal Curb appeal is a huge factor in renting or selling your property. Whether or not people aware of it, the outside of the home can make a huge difference in the level of interest you see for you property. You can make some advances to the porch, replacing things like the front door, address numbers, and stairs. Paint or replace the mailbox if you have one, and plant some flower if it's the right time of year. But setting the tone from the get-go of how the yard should look, you will create a priority for tenants, hopefully attracting ones who appreciate what you have done to the home, and will take pride in keeping up the area in which they live. Lighting Lighting is an incredibly important element of a house. if the property does not have any windows, consider adding a skylight or light tube into the ceiling if possible. People love natural light and it will instantly make the place more appealing to potential renters. Put the light that switches on dimmer so people can customize the vibe of the lightning in the house. Fixtures Another simple upgrade to consider is new fixtures. New faucets, doorknobs, hinges, and other items found all over the house that can easily be upgraded after a quick trip to the hardware store. Keep things simple and don't overdo in order to make an appeal to a wide range of people.
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