5 Ways To Add Value To Your Investment Apartment
Adding value to an investment property is something that all home owners should think about. A few small changes can make such a big difference and boost your return on investment. It does not have to be a million dollar renovation project! Choose the essential improvements required for the property and work your magic in those areas. We share with you the 5 ways investors can add value and attract more tenants to their properties within no time.
01. Lighting
Creating the perfect ambience with lighting is a great way to set the mood of the space. There are several light fittings you can use to make a property aesthetically pleasing but functional at the same time. Under cabinet lighting would work well for modern kitchens to give that extra edge. It gives a sleek finish to your kitchen cabinets and provides a great amount of light. Sensor lights are quite user friendly and energy efficient. You can place these in any room, your balcony or front door and only use the light when someone walks past. To create a balanced and well lit property you can also use strip lighting in your hallway or entrance.
02. Kitchen and Bathroom
The kitchen and the bathroom of a property are one of the most important aspects tenants look at when searching for a new place. Make a good first impression by focusing on installing all the required facilities in these areas. A modern kitchen with a dishwasher and conventional oven sounds simple but not every property offers this. Small features like this can really help change the mind of a tenant when shortlisting properties as it also reduces their costs of buying extra home appliances. Bathrooms with waterproof tiling around the shower will reduce any future risks of damaging the flooring and walls. A simple and sleek bathroom mirror can tell a new story and enhance the look of the space by making it more inviting.
03. Storage
Everyone loves some extra storage in their homes. Storage solutions help a tenant decide whether or not they want to live in a property. Stylish cabinets and extra shelving against the main walls are great for placing things in a tidy spot and even adding some decorative pieces. Built in wardrobes and storage heads help clear the clutter around rooms and offer extra floor space which is essential, especially for tenants living in an apartment.
04. Windows and Floor Coverings
Upgrading to energy efficient windows are essential as they are necessary for the aesthetics of a property but also serve a great purpose. Large windows are crucial in allowing light to enter your property and offer much needed ventilation. Double glazing windows can be an energy saving option for your investment as it reduces the rate of heat escaping and entering the property and keeping a controlled temperature. Floor coverings that are easy to clean up and maintain are ideal for keeping your properties away from any damage. Timber flooring as well as tiles are quite handy in areas like the living room and kitchen. Hardwood floors are the most popular option and can be used throughout the property for consistency.
05. Maintenance
A maintenance plan is the most crucial thing for landlords to keep in check. Repairs must be addressed in the early stages to avoid any larger risks including roof leaks or plumbing issues. Make sure all the facilities like heating, kitchen appliances and bathroom facilities are in good condition and appropriate for tenants to use. A fresh coat of paint can also help make your investment property appear brand new.
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