If you have a property to sell, you could set a significantly higher asking price if you take the time—and invest the cash—in a few crucial updates before popping the house on the market. While it may be a little annoying to invest more resources in a house or flat you want to get off your hands, these simple renovations could make all the difference without costing the world.
Consider Other Options Before You Sell Your Rental
It’s worth noting up front that hanging in for long-term gains is often the best way to make a decent profit on your investment. No amount of renovations will give you the returns that you’ll get from selling at the right moment. Of course, there are times when you simply want to sell your property. Maybe your long-term tenants have left, or your circumstances have changed. Perhaps the market isn’t looking too great, or you feel like a change in direction. These are all legitimate reasons, and you may be better off doing some quick renovations and selling as soon as possible. That said, if you want to sell your property only to be done with the hassle, property management may be the more sensible solution. Hiring a crack team frees up your time to get on with the other things you want to do, and takes away the day-to-day headache that could be pushing you to let go of what is a valuable investment.
Most buyers consider the house as first priority. If the house is perfect for their needs, their decision may be less likely to be swayed by a garden that is less than ideal. However, if your potential buyer is on the fence about whether the house could be the home of their dreams, a beautiful garden will very often make the difference. If your property boasts a garden, you’re missing a trick if you neglect to make proper use of the outdoor space. This is especially important if you’re aiming for a summertime sale. Not only will a well-maintained garden serve as a face-lift for the entire property, but it’s a great way to show your potential buyers that the property has been treated with care. You needn’t go to town on the garden—unless you actually enjoy gardening. It’s amazing what a manicured lawn can do! Other simple touches like a bench positioned in a shady spot, a greenhouse, or a built-in outdoor cooking area can work wonders if your potential buyer has an outdoorsy lifestyle in mind.
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A dated bathroom is a notorious ‘deal-breaker’ in the world of real estate. If the house boasts a hygienic-seeming loo with a spick-and-span tile job, most buyers aren’t going to quibble over which type of tiles you went for. On the other hand, a dated bathroom can put a buyer off, even if the fixtures are perfectly clean and serviceable. Something about that old-fashioned vibe has the effect of creating a grubby appearance where there is none. A freshly remodeled bathroom is a great way to make the property feel fresh and revamped, even if you’ve done it on a tight budget. And you needn’t invest in a complete bathroom overhaul, either: a modern, clean effect can be achieved with a few simple touches, such as mood lighting or new tiles.
Whether you’re selling your home or a rental property, these helpful renovation ideas could help you get more for it than you expect.