17 Sep Five cheap upgrades to maximise rental return on your property
When you purchase a property, you’re ultimately looking to bring in a significant rental return and grow your investments. However, if your property is in desperate need of some love, you may be compromising its worth.
The good news is that you can easily do basic cosmetic touch-ups that can significantly increase the rental value of a property, and save you big bucks in major repairs in the long run.
Check out these ideas for easy upgrades that’ll help maximise your rental return.
This is a classic fix for good reason. A fresh coat of paint can make an incredible difference in upping the value of your property.
Because you’re renting out, it’s best to keep colours quite neutral to ensure the property appeals to the widest audience. This doesn’t, however, mean you’re stuck with various shades of white. In fact, using a colour other than white immediately adds to the style and quality of your property, and helps it stand out from the rest. Just don’t go wild.
Unfortunately it’s difficult to transform a drab kitchen into a cooking-enthusiast’s delight without investing some serious dollars. The good news, though, is that there are plenty of basic changes you can make that’ll create a big impact without breaking the bank.
The areas to focus on are kitchen cabinets, the bench top, lighting and flooring.
All it takes, to give a boost to dull cabinetry, is a bold colour. This simple change gives the room striking features, character and a modern style. Painting the ceiling and walls also gives the kitchen a fresh and clean feel – if you think about it, the kitchen’s walls and ceiling are the most likely to become greasy and grubby.
Bench tops are another potential problem area, and marble or stone replacements are typically out of reach for most people. The next best thing is Haymes Ultimate Epoxy. We call it the magic product! It is incredibly versatile, and can be used on multiple surfaces, including bench tops.
Make sure your floor is easy to clean and that you’ve fixed obvious problems, such as broken tiles. An unkempt floor doesn’t inspire the sense of cleanliness one should feel in the kitchen. As for lighting, go for options that provide a warm, ambient light. Avoid overly bright spotlights at all cost!
Don’t underestimate how much a fresh, modern curtain can uplift your room.
Go for something basic, in a nice, neutral colour – often a bright white works well. This will do wonders for framing your property’s windows. If you have Haymes Feather Grey on your walls, then try out white sheer curtains to add a dreamy contrast, and bring out the crisp white of the trims with a spot of Haymes Greyology 1.
A flooring project can very quickly turn into a nightmare. It’s expensive, difficult to install and very easy to get wrong. Get it right, however, and it brings together a room like no other feature, and makes your property super inviting.
If you’re thinking of laying carpeting, make sure you keep in mind the costs of installation. One way of saving money is to buy offcuts and samples and use those to cover small spaces.
5. FINAL TOUCHES
The final finishes are often overlooked. However, it’s the smallest details which often count the most. Two examples of these are doorknobs and lighting. The simple act of putting new doorknobs in your kitchen and bedrooms can quickly make a mark.
The same goes for dated light fixtures. Swapping these out with any of the huge range of modern light fittings that are available can make a huge difference. Of course, you should always (for both safety and insurance reasons) hire a licenced electrician to carry out your electrical work.
You see? You don’t need to blow your budget to create a great cosmetic change to your rental property. Have fun!