Tips for freshening up your investment property and saving money
Usually, investing cash and renovating your investment property does not appear to go hand in hand. However, without breaking the bank, there are some ways you can bring some extra "wow" value to your house. We share a few cost-friendly ways that your investment property can be updated below.
Share the burden of fencing with neighbours
The bill will be divided between you and your neighbour for fencing along the dividing line of land. This can be particularly useful for reducing the expense of your fencing. However, the greatest obstacle will be to guarantee that you get agreement with your neighbour to go on with the style, materials and costs of the fence. Be sure that you are open and highlight the advantages of downloading this upgrade when disclosing the expenses. In addition, if multiple homes in a street update their fences, certain fencing companies may have a discount, so it may be worth checking in with other street owners as well.
Reducing, reusing, recycling
If you're very handy with DIY schemes, without breaking the bank, you may be able to build some renewed stuff for your investment property. This may include light fixtures, recyclable construction materials and other larger items that can be used for the house. And if you haven't done a DIY project yet, local hardware stores and online videos will provide you with some great tips and inspiration.
Create one major adjustment
A perfect way to make an impact without running over budget is to invest in one major upgrade to your property and complement this with smaller improvements. You may opt to open an attic roof, install some high-quality timber shutters or invest in some French doors. Make it something that can convert a heavily used room in the house, such as the kitchen or living and dining area, whichever choice you prefer.
A Coat of New Paint
The walls through tend to look kicked about after the property has had a few different occupants, and the property will show signs of wear and tear. A perfect way to clean up the property while holding expenses to a low is to apply a fresh coat of paint to the walls in tenancies. Stick with neutral colours that would cater to most individuals and do not forget to keep a list of the paint colours for any touch-ups that could be needed in the months and years to come.
It will ensure that you attract better renters by having your property looking well displayed with some low-cost renovations. This not only helps keep the property in excellent shape for the long term, but it can ensure that you don't have to hunt new tenants for a long time to secure tenants who enjoy staying in the house. It is worth the investment, so take your time and make a few minor changes that will have a huge effect.
Note this article is not a financial or legal advice. Please check with your financial and legal qualified advisors before taking any decisions on your own.
For further information about real estate in this area, contact No Bull Real Estate, your most reliable and friendly real estate agents in Newcastle & Lake Macquarie. Buying, selling, leasing for residential, commercial, industrial property, contact your local expert to buy, sell or lease today on 49552624 or https://www.nobullrealestate.com.au