Adding a real estate investment to your portfolio can be a whole lot of fun. Whether you are living in the investment property, renting the home or flipping it, there are some key renovations that you can do to upgrade the home and add value to it, as well. Plus, renovations can be a great project if you enjoy home improvement.
The heart of any home is its kitchen. Any renovation you do to the kitchen will add value to your home. It doesn’t even have to be a major renovation. When changing things up, it’s always best to consider what the future buyer is going to care about. This can include bringing flooring and cabinets up to date, along with appliances. Adding decorative touches like backsplashes is nice and pulls it all together but isn’t as valuable as the foundational work.
The second most important room in the home is the bathroom. Before we know it years go by and a home’s bathroom can become so out of date. Bathroom renovations should start in the shower or tub area. Over time, mold, mildew and water can be very wearing. If it’s not in the budget to get new shower doors or a new tub, you can do small but impactful things. Something like updating caulk and paint throughout, giving it a fresh look. As with the kitchen, flooring is a big value-adder, along with cabinetry, sinks, the toilet, and fixtures. Just making everything more modern and current will make a big difference to a potential home buyer. To bring a decorative touch to the bathroom, remove the old standard six foot mirror and add round or framed mirrors.
Another thing that will add value to your home is updating the flooring throughout. Worn carpet should definitely be removed. Wood floors can be polished and repaired if necessary. You can also add value to your home by replacing an aged air conditioner, water heater and garage door opener.
If you’re looking to add real estate investment to your portfolio, give us a call. At Shield Property Management, our team of professionals is knowledgeable about Valley properties. We can help you find the prefect property for your real estate investment.Contact us