3 Tips For Investment Property Improvements
Property investment is one of the most reliable ways to grow your assets, and something that anyone who owns a house is taking part in, even though many homeowners don’t see their house as an investment as such. This is a mistake–even if you buy a home and plan to live in it for the rest of your life, you are still making an investment that needs to be taken care of and protected, not to mention the fact that you should consider the ways in which it can make you money! Having said this, there are so many ways in which it is possible to add value to your property, from small changes that pack a big punch such as improving the window treatments with new roller blinds or retractable awnings, all the way to big changes like renovation or remodelling. For three great tips on adding value to your property, read on!
1. Think Like a Buyer
One of the key components to adding value to your home is looking at it through the eyes of a buyer. If you were looking to buy a house, what would make you pay more? Often, buyers look for things that will save them money in the long term. It could be the fact that the home has a ducted gas system, which allows cheaper, lower impact heating and cooling. It could be the fact that it has extra storage or an undercover carport, which means that their car insurance premiums will go down when they have the car on the property. Even if you don’t plan to sell, making changes to your home that are money-saving will benefit you in the long run, and that in itself is a return on your investment.
2. Streamline the Style
Something that happens often when a family has lived in a home for many years is that it develops its own kind of higgeldy piggeldy style. There are design elements from several periods, and often there’s a mix of old and new that, while comfortable and homey, create a bit of discordance aesthetically. By choosing one style and applying it to each room, your home will immediately appear more pleasing and thus, more attractive to other investors. Things like choosing uniform window fittings like chic roller blinds or sunscreen blinds and getting rid of those outdated curtains, or repainting in one light base colour to brighten the space are relatively inexpensive tricks that can greatly improve the value of your investment.
3. Outside Can Be Another Room…
We’re lucky to have one of the most temperate climates in the world here in Australia, and as such alfresco dining is as popular here as it is in its native Italy! Never underestimate the value of an ‘outdoor room’ which is really just real estate speak for an entertaining area with some shelter. Retractable awnings are brilliant for this purpose, and with several versatile models on the market, you can even move your ‘outdoor room’ around as you see fit!
A few minor changes to your home can have a lot of major effects on its value. By paying attention to this and making the right decisions, you’re literally making yourself money. Sounds pretty good to us!