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A property’s value is determined by the value it offers its potential inhabitants. If the estate is in a run-down condition or features outdated appliances and fixtures, then it’s bound not to be very profitable. However, that doesn’t mean that it is a lost cause and that you should bulldoze it to the ground. In this article, we mention 5 upgrades to boost property value and bring in more rent.
Improve Curb Appeal
The first impression might not last forever, but it significantly impacts the tenant’s attitude towards the property. A good looking how’s induces a feel-good environment even before the actual house viewing.
Make sure to invest in landscaping as it can be your saving grace. Many families place significant importance on curb appeal. An artfully decorated and beautifully maintained yard adds value to the property by enhancing its overall look and feel.
Double-Paned Windows
Energy-efficient homes are the latest trend these days. This is one bandwagon you shouldn’t hesitate before jumping on. By replacing old windows with double-paned ones, you add a unique marketable feature into your property that is bound to attract plenty of tenants. Who wouldn’t want to live in a house where they can save money on utility bills with no effort?
Upgrade Countertops
Countertops make a world of difference in swaying potential tenant’s decisions. Low maintenance countertops are a must-have for all working women and mothers as they cannot spare the time needed for extensive cleaning and sanitization regimes.
Installing good quality countertops isn’t budget-friendly, but it is definitely an investment that will pay you back for 15 to 20 years. Invest in quartz or stainless steel countertops as they are not only sturdy and non-porous but are also visually appealing.
Replace Flooring
If you have carpeted floors, then get rid of them as soon as possible. Carpets went out of fashion and demand a long time ago. Make sure to replace them all with hardwood or tiles. You can even opt for bamboo flooring if you want to market your property as an environmentally friendly one.
A Fresh Coat of Paint
Old paint can make the property look worn down and take away from its beauty. You could give it all the upgrades we have mentioned above, and it won’t make much difference without a fresh coat of paint. It’s almost equivalent to wearing designer clothes covered in mud.
Once the old tenant moves out, give the house a makeover. A coat of paint can breathe life into the dullest looking structures. It is also the easiest upgrade to boost the property’s value. It may not make an enormous contribution, but it does make a significant difference.
Landlords and property managers alike need to focus on property upkeep. If the estate doesn’t look the part, then it won’t rank as desirable listing, and that’s a loss for the owner and manager, not for the tenants. With plenty of other estates on the market, you must try these 5 upgrades to boost property value and set it apart from competitors.
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