As a property owner or an aspiring one County Durham, you must be curious about how to increase property value in an affordable way? An increase in house value can do wonders for your monthly revenue. We present you with six quick ways that can upgrade your County Durham rental investment property.
Improving rental properties is a tricky business – it can increase monthly rent gains or leave you with costs only that you can’t monetize. Preparation is the key to avoiding a scenario where you lose thousands of dollars for non-profitable County Durham home improvements. Here are 6 cheap ways to increase the value of your property.
A fresh coat of paint can transform any area of your home. Repainting the walls and ceiling is an effective way to improve the impression of a room, and it doesn’t require a large investment. Make your spaces light and cozy by using vibrant hues or add a dash of serious, deep tones for a polished, professional look. You’ll be amazed by the change you’ll get simply by refreshing the existing color on your walls. Painting is a quick and inexpensive process, and you can either hire a professional or save some money by doing it yourself.
Taking care of the outdoor area can bring a lot to the value of your property in County Durham. Picture little things – changing the lightning, updating house numbers, painting the door, etc. You can already sense the improvement. Add to that some landscaping, flowers, a swing, or a bench, and the dull and boring porch becomes a warm and welcoming space. You can take care of the outdoor space by yourself, or add it to the lease as one of your tenants’ obligations. Of course, that shouldn’t be anything too demanding. It could deter good tenants and leave you with an unpleasant situation in the yard. Beautiful landscaping can change the feeling of the whole area and attract people who will enjoy maintaining it. The rent will increase this way, and you will be happy with your caring tenants.
Storage is sometimes a crucial condition for renters that are searching for a place to live. It doesn’t require a lot of effort to make additional shelves and drawers, a functional closet, and more kitchen cupboards. This is a huge plus for many people. Don’t stop there – add hooks and shelves to the garage space so your tenants can hang their tools or bikes. All of these fixes can be done without spending a lot of money and will make your property more valuable on the County Durham rental market.
A cost-effective addition to your property could be the installation of energy-efficient appliances. This simple act can attract more tenants than you imagined! Don’t wait until your appliances become non-functional and rusty – replace them when the time comes. Get a nice washing machine and a dishwasher and other appliances with cool and modern features and make your tenants happy. They probably wouldn’t even mind paying a higher rent for such perks! Having a good piece of equipment satisfies the eye of many people. You don’t have to replace all the appliances at the same time and break your bank, but do it whenever there is a need. Your tenants will appreciate it.
Increase the value of your property by updating the fixtures in it. The feel of the home can be changed quickly by adding modern, clean, and useful things to your house in County Durham. The things you can change for a small amount of money are lightning, faucets, drawer pulls, doorknobs, and many more. These simple updates can make a huge difference. The best thing is that they don’t require much effort so you can do them on your own.
Replace The Flooring
Maintenance of your floors is an important factor to consider when renting your property. You want durable flooring that is easy to keep neat and attractive. Luckily, this is what your potential tenants want as well. Tile or hardwood floor is the option that is easy to keep clean, compared to carpets, for example, that stain quickly and can get smelly. If you have old carpets, the best idea is to replace them with the kind of flooring that can endure more situations without lasting damage.
For a landlord, improvement of their rental property is a never-ending subject. Property renovation should always be done in between tenants or when there is a need for a grand repair. You should feel encouraged to make smaller improvements continuously to make your tenants feel safe and comfortable in your property. This way you will be able to keep tenants in your house for a long time.