Big things can come in small packages and this philosophy applies to the real estate industry too. Believe it or not, it’s possible to boost the selling rate of an investment property without breaking the bank. With the wise choice of projects to prioritize and adequate knowledge about the current market and the needs of the assets at hand, it is very much doable. Care to find out what these minor upgrades are? Well then read on and find out.
The roof and the property’s foundation are perhaps the most expensive things to repair and maintain. To protect them and avoid a costly dilemma, one has to invest in quality and durable gutters. Why? This part of the house ensures that water travels through and ends up where it needs to be: the drainage. If the gutter is damaged, ineffective or clogged up then rain water and snow will spew everywhere weakening the structural foundation.
It may seem unnecessary to some but the garden and lawn can tremendously add value to any investment. Sure landscaping can be pricey at some point but with nifty tricks, it can be done. For instance, the simple act of cleaning it up, mowing the lawn and trimming those bushes can already up the game.
Whether this space is used to park the car or to provide some other purpose (e.g. storage, gym and extra room), tidying up and fixing the garage is a worthwhile upgrade. This is because it gives an added space thus improving functionality.
Perhaps the simplest trick in the book but also one that makes a huge difference, painting those walls a better color can add value. Certain hues or patterns can add personality, space and dimension or even brighten up any room.
Properties without adequate storage space or units aren’t very appealing. The smarter they are and the better they are at maximizing space, the higher the value they tend to bring. This applies to pretty much all rooms but is more particular in certain areas like the kitchen, study and bathroom.
An investment property can rake in more value the more it provides access to natural light. Windows, rather the right type of windows, can make this possible. Other options may include glass doors or walls but those can be very pricey for most people.