There’s never a bad time to add a little value to your property, but something about spring motivates many investors to whip out the paintbrush, ladder or toolbox and embrace their inner DIY-er.
Keen investors know that the right renovations can seriously up their property’s potential rental yields and make a home or unit stand out to investors in a saturated market.
Here are three changes to make this spring that are sure to add value without breaking the bank.
1. Start in the garden
If you’re trying to fill vacancies this spring or summer, make every effort to enhance curb appeal. A lush, well-kept garden will definitely make your property more attractive to renters, particularly at this time of year.
2. Install a new bathroom vanity
Bathrooms and kitchens make homes stand out, but renovations in these rooms tend to be quite expensive. A minor renovation, however, such as the installation of a new vanity will look great without costing too much.
This is also a project that can easily be undertaken with tenants in the property or in a short turnover window, as many vanity units are sold fully assembled and can be installed quickly and easily. source
3. Splurge on a new, green appliance
Good renovations are the ones you can brag about in a house viewing, so why not replace an outdated appliance with a new, eco-friendly one? This might seem like a bit of a spend on your part, but many appliances – such as a dishwasher, washing machine or dryer – will actually save you on utilities down the line. YouTube To Mp3