ROI-Friendly Ways to Improve the Look of Your Investment Property

Enhancing your investment property’s curb appeal can pay off significantly. Not only is a good-looking property more likely to be rented out, but it’s also likely to command a higher rental price. If money is tight, you should know that aesthetic upgrades don’t always have to cost a lot – you could get a lot done on a budget. Today, 3R Roofing outlines some affordable ways to touch up your investment property.

Landscape
The appearance of your front (or back) yard can make or break deals. Expect to make a powerful impression on visitors with a well-trimmed lawn with even grass layers and no patches of dirt or weeds. Having flowers, planters, flower beds, shrubs, trees, benches, and some hardscaping makes your property look high-value. For bonus points, make sure the landscaping contrasts well with the property’s exterior. BrightView offers some quality landscaping guidelines.

Add Lighting
People are naturally drawn to well-lit places – they’re seen as homey and safe. Adding layered lighting – a combination of light sources of various intensities – can create a comforting ambiance indoors. You can have cooler light sources in living areas (the hall and kitchen) and warmer ones in your bedroom. It’s also always a good idea to add exterior lighting to your property and turn it on when the sun goes down (you never know when interested viewers drive by).

Deep Clean and Declutter
Too many landlords put up their properties for rent after only a basic surface-level cleaning job – it can be a major turn-off to discerning tenants. Deep clean the property instead. Wash doors, windows, screens, and floors; steam clean the carpet; unclog drains and pipes; sanitize the garbage cans; and pressure-wash the driveway. Put or throw away any clutter to make the space look extra expansive.

Add Functional Upgrades
Consider adding a bunch of quality-of-life upgrades that also happen to look impressive. Some examples are spacious or walk-in cabinets, new roofing, new flooring, countertops, plumbing fixtures, in-unit washers or dryers, and outdoor seating areas. Better Homes & Gardens offers a list of future-ready upgrades if you’re interested in going all out.

Give it a Fresh Coat of Paint
Adding a fresh coat of paint can make any property shine. If your property is old, a good paint job can make it look brand new. You could paint both the interiors and exteriors. If you paint the interiors, you could use color psychology to make your rooms more appealing. If you’re painting the exteriors, you can choose between a bunch of paint types like masonry, smooth, textured, and primer and sealer. 

Add Home Security Measures
A smart home system can add a wow factor to any property – having voice-activated or sensor-controlled lighting, doors, windows, and appliances is always an impressive sight. Adding a security system on top (with cameras and the like) can make it extra appealing, not to mention offer tangible security and safety. And there are many options now that don’t require an expensive service contract and that you can easily troubleshoot yourself.

Make it Energy Efficient
An energy-efficient property can be very appealing to today’s eco-conscious renters. There are various ways to make your property energy efficient – you can add insulation, get a photovoltaic solar panel, glaze your windows, switch to energy-efficient bulbs, have a recycling system, add a low-flow showerhead, and use eco-friendly cleaning products.

Conduct an ROI Analysis First
Don’t just make upgrades – aesthetic or otherwise – willy-nilly. Not every upgrade is worthwhile. Also, renovation projects are infamous for frequently overshooting initial estimates (and consequently your budget). Start by researching the home rental market in your area to get a feel for what kinds of amenities and prices people are used to. Then, use that information to plan your own upgrades.

Start Your Own LLC
A great way to protect yourself legally is by launching your own limited liability company. This comes with certain tax incentives, as well! Different states often have slightly different regulations, though, so if you’re not sure how to start an LLC in Colorado, you could enlist the help of a formation service that’s already familiar with said regulations and can get you up and running in a matter of minutes.

Market Effectively
Once you’ve completed your upgrades, it’s time to start marketing! In addition to spreading the word through social media, it’s a great idea to print up some brochures that include plenty of high quality images of your property. If you aren’t sure how to get started, you can easily transform your promotional material by accessing free templates that you can customize as needed.

Upgrade Strategically
Doing work on your property can pay you back in spades. Aesthetic upgrades will up the property’s curb appeal while functional upgrades can make it more desirable to renters. To make sure you get your money’s worth and don’t overshoot your budget, conduct an ROI analysis before moving forward with an upgrade. You can research the local real estate trends and conditions for ideas on suitable improvements.

3R Roofing has the roofing and solar solutions you’ve been looking for!
Call 303-444-5640.

  • Get a FREE Inspection:

INSURANCE CLAIM

Let us be of service when it comes to handling an insurance claim, we speak the claim adjuster’s “language”.

MORE

Connect with us: