After investing so much time and money into your investment property, you’d definitely want to get as much in return as possible. Now, increasing the value of your property is never guaranteed but with these tips, you’ll be increasing your chances of a better valuation and you’ll be more likely to rent your property sooner.
1. Update the Kitchen
Most people consider the kitchen the heart of the home, and it’s what sticks in the minds of many when looking at properties. Depending on your budget you’d want to update as much as possible. Ways you can update the kitchen of your property include:
∙ Switch up the cupboard doors
∙ Add storage
∙ Add new appliances or replace any outdated ones. A home warranty plan can help cover the costs of appliance repair as well.
∙ Change the backsplash and countertops
2. Fix Up that Bathroom
The bathroom is another major factor when considering where you’d want to live. An old, dirty, and outdated looking bathroom will surely turn away many renters from sparing your property a second thought. Here are a few things you can do to make the bathroom less frightening:
∙ Replace any mouldy silicone sealant edges with new ones
∙ Update any tiles if budget allows
∙ Update the taps; this can make a huge difference
∙ Look out for any potential issues and fix them before you rent for eg. water damage, leaky taps
3. Do Some Landscaping
A nice outdoor space will surely entice the eyes of any prospective tenant. This doesn’t need to be an elaborate garden with a built-in barbeque, though those are nice, a tidy and well-maintained yard can suffice. If budget allows adding a few easy to maintain plants to your front yard, could increase kerb appeal.
4. Don’t Forget the Little Final Touches
You’d never know how much small changes can leave your property looking brand new. For many of the above, you’ll need a good budget, but these little touches can help your investment property be rented sooner. These include:
∙ Fixing up any peeling paint
∙ Painting or touching up the walls and doors
∙ Replacing doorknobs
∙ Updating the front door
These tips can help move your property but be aware when making these changes yourself, poor work may bring down the value of your investment. It is always best to use the services of a professional. Again, bringing up the value of your investment property can never be guaranteed. Much of the value of your property depends on the status of the current market. To get advice and a true look into how much value your investment property has, seek out a property valuation in Sydney. With the help of an independent valuer, you can have a better understanding of the current market and where your property stands. A valuation report, made by a certified valuer, will not only provide vital information about your property but can also be useful for, Self-Managed Superannuation Funds and Tax Purposes. Seek out the services of your local valuer today.
Samantha Grant is a specialist in her field and has been working within the property valuation industry for over 20 years. As a Senior Valuer, Samantha is an authority in all forms of residential, commercial and industrial valuations and has served as an expert witness in high profile litigation proceedings. Samantha’s professional knowledge is often utilised in industry conferences, seminars and performs guest lectures as an industry expert.
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