Whether you plan to live in the home long-term and want an investment property or plan on renting it out so that you can continue living somewhere else, there are several areas in which investing will help increase its value. When you invest in a rental property, you want to ensure that your investment grows over time. One great way to do this is by increasing the value of your home so that when it’s time to sell it or lease it out, you get as much money as possible. These are some of the best ways to do that.
Update The Bathroom
While this isn’t exactly a massive remodelling project, it’s one of the areas where people spend the least amount of money but see the most value. If a future tenant sees a dated, pink tile in the bathroom and is instantly turned off, they may walk out before seeing the rest of the house. But if the bathroom looks modern, clean, and new, they are more likely to see the potential in the rest of the house. That same potential makes the home more valuable, and you can get a great return on your investment. Use bathroom design software to help you design the perfect bathroom.
Kitchens Sell Homes
Kitchens are the number one room people look for when buying or renting a home, and for a good reason. The kitchen is the heart of the house. While you might not be looking to sell your home, if you’re planning to rent it out, you want to make sure it looks great. And when it comes to kitchens, you need to ensure that you have plenty of storage, cabinets, and durable work surfaces too. Ensure you maximise space for increased functionality too.
New windows are a great way to increase the value of a home, but they are also one of the more expensive upgrades. As a landlord you need to ensure your home is energy efficient and having new windows fitted is part of that. It also helps to reduce noise and increase the aesthetic value of your home. There are many different styles of windows to choose from, and if your property is in a high-traffic area, choosing triple-glazed windows can help to further reduce external noise.
A damp course involves cream or liquid being injected into the external walls of a home to help prevent moisture from getting in and causing damage to the house. It’s a relatively inexpensive addition that can prevent thousands of dollars in repairs down the road. It’s essential if the home is in a humid area or has a lot of trees around it. It’s also necessary if you plan on renting the house out to avoid paying out for repairs down the line.
A well-maintained lawn and landscaping can be an instant boost to the value of a home. It can also add value to the house in other ways. And even if you don’t have time to maintain the yard, it’s worth spending a little extra to hire a gardener to maintain it. It’s also a great way to add curb appeal to the home. And if you want to raise the rental value of your home, it’s best to go with low-maintenance plants and bushes.
If you want to see a significant increase in your rental value and the money you make when you eventually sell your house, you need to make sure it looks its best. Spending a little extra now on upgrades can save you a lot of money down the road in repairs. And that can make all the difference in the world when it comes time to sell.