Top Five Most Effective Renovations
When it comes to making renovations, you clearly want to invest in those renovations that are going to give you the greatest benefit. Not only do you want renovations that will increase the overall value of your property, but you also want renovations that will help to attract and keep great tenants. To that end, here is a look at the top 5 move effective renovations.
For many buyers and renters, the kitchen is the most important room in the house. Therefore, you should be sure to give your kitchen all of the necessary updates and upgrades to keep it in line with the competition. This may involve installing new, energy-efficient appliances or replacing the faucets with a water-saving design and a fresh look. You can also give your kitchen a face lift by simply changing out the hardware on the cabinets and drawers. If more work is needed, refacing the cabinets can give the kitchen a whole new look.
The bathroom is almost as important as the kitchen in the eyes of many buyers and renters. You can also put in new water-saving faucets and a low-flow toilet to help save on water costs while also creating a new look in the bathroom. Consider re-caulking around the bathtub and replacing old shower doors to help give the bathroom a clean look. Removing the shower doors altogether can help create the illusion of more space while allowing the renter to select the shower curtain to suit his style and taste.
Switch to Hardwood Flooring
Hardwood flooring is far more popular with most renters than carpeting. Not only is it more attractive, but it is also easier to maintain. Keep in mind that engineered wood products typically do not stand up to foot traffic as well as the real thing, so it is worth the extra expense to go with real hardwood floors.
Replace the Front Door
Your front door place an essential part in creating curb appeal for your rental property, so you want to be sure it makes a good impression. Steel doors and stone veneer varieties are particularly popular right now. Not only are they attractive, but they are durable and create an added sense of security that renters appreciate.
Install New Windows
Whether you plan to hold onto the property for awhile or you think you will put it on the market soon, replacing the windows is a sound investment. In fact, research has shown that the average homeowner recoups more than what its spent on replacement windows in major cities such as NYC, Boston, Orlando, Miami, Seattle, San Francisco and Chicago. Furthermore, replacing your windows with a more energy-efficient variety will help you save money if utilities are included in your rent. If utilities are not included, potential renters will find your energy-efficient windows appealing as it helps them to cut down on their energy costs. New windows are also more attractive as they ensure uniformity in appearance and a clear view to the outside.