As an investor planning to either to lease property or re-sell it, the only thing that matter is ROI. There are many ways to increase your property’s ROI and it doesn’t stop with owning the property itself.
Property owners sometimes forget that there’s always a competition for the same unit or same location. One should realize the importance of due diligence, research and study. Buyers and tenants are smarter now and will always look for their money’s worth.
Adding a substantial amount of charm and value to the home such as upgrading and refurbishing areas of the property will increase its market value.
The kitchen is a critical room in any property. Having the kitchen furnished with a dishwasher, a garbage disposal, easy to access cabinets made of quality materials, a great stove and refrigerator, and nice flooring would be a great start. It is important that everything must be convenient to access and must make life simple for cooking and other activities.
The next crucial aspect are the bathrooms and it is a very important to invest in this. The more bathrooms you have, the more the property will be worth. The importance of these rooms within a residential home must never be overlooked. This is one of the major highlights any buyer will look for, in a property.
It is vital that the master bathroom is extremely attractive. One can add a bathtub, a shower, tile flooring, pretty much anything which will help increase the value of the home. Extending into the side return to create a large reception, will give a great look to the property. These extensions add the wow factor and are hugely sought after and therefore tend to sell extremely quickly.
One must keep in mind that using poor quality materials in any property can devalue a property – a buyer’s first perception of a property will always be based on its external appearance so it’s important that it looks its best. The other important factor is the insulated windows, which can help the tenant save you a lot on heating and cooling costs within a residential property.
Increasing the property value of any home or a home that would be rented requires absolute strategy and understanding. It is important to know the worth which be added to the property.
Always ensure that the property is well-maintained and exhibited in the best condition possible. Property owners nowadays choose to work with agencies like Rocky Real Estate offering property management services to ensure that the property retains or improves this value. Landlords now have peace of mind 24/7 with assurance that their property’s value is growing without their full supervision.