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Adding value to your investment property doesn't have to be expensive. Repurposing unused rooms into something more useful, like an office or exercise room, is a great way to improve the look and value of your home. Not only will this add value and make your house more attractive, but also give potential renters more incentive to rent from you.
Upgrading your rental property can give you a competitive edge in the local market. Doing some research online to find out what amenities other rental properties and apartments in the area offer can help you decide what features you should prioritize and how much to invest in each one. This will help make your property more attractive to potential tenants and increase your chances of success.
Making sure that every room and corner is clean is essential for any rental property, as people are often turned off by dirty spaces. The best way to ensure that everything stays clean is to deep clean everywhere often, including walls, carpets, windowsills, and hard-to-reach areas like baseboards and ceiling fans. This will give your rental property an extra shine that won’t go unnoticed.
Staircases can sometimes be neglected but they do play a major role in making a good first impression on potential renters. Make sure that staircases are always well-lit, dust free with no cobwebs, and have non-slip treads for safety precautions when climbing up/down steps. If possible, add a beautiful rug runner down the center for extra visual appeal.
Keeping the structure of your home in good condition is critical. Regularly inspect foundation and roof structures for signs of damage or weakening due to wear and tear over time. This can help prevent costly repairs later on caused by unexpected structural issues, as reinforcing your foundation and roofing can help avoid such costs in the future.
Establishing your property business as an LLC in North Carolina gives potential investors a sense of security and trust in the investment. It shows that you have taken the necessary legal steps to protect them from potential financial losses. In addition, your commitment to protecting their money is clear, giving them confidence in your business.
Replacing old flooring with new materials is an easy and cost-effective way to upgrade any room. Laminate wood, tiles, and other similar options are available, depending on your personal style and budget. Do your research beforehand to make sure you're making a wise decision that will save money in the long run.
Updating window treatments like blinds and curtains can instantly refresh any room. They also can be used to increase privacy, especially during the summer, when days are longer and brighter. Doing some research before purchasing a set within your budget will help find the perfect fit while staying on budget and getting the most value.
Don't forget to spruce up the landscape with plants that best suit your region and season. Adding new plants or updating existing ones can provide a great return on investment in the long run, by preventing unwanted issues from arising. Pay attention to even the smallest of details — minor tweaks can save you a lot of money down the road. Click here to know more.
Updating your investment property doesn't have to be expensive or complicated. There are many simple yet effective ways to get the most bang for your buck. Consider repurposing unused rooms, establishing your business as an LLC to increase credibility, and upgrading landscaping with new plants using online resources. Taking the extra initiative can help increase attractiveness and ROI significantly over time, helping maximize profits.
The Evelyn Owens Team of Keller Williams Real Estate invites you to search our listings for your next home, building lot or commercial property in Franklin and across Western North Carolina.
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