Looking to sell your rental property, and trying to think of different ways to market it and potentially increase its value to buyers/renters? Just want to make some positive changes to your home in order to increase its worth for down the line? Take a look at this short guide, encompassing a few of the many different tips and tricks that you might want to consider.
Any changes that you make to your home will likely require some funding, and so it’s important that you spend smart. You should also tackle specific aspects of your home rather than tackling everything at once and getting caught with things that aren’t finished properly.
If thinking about doing some renovations on your home and upgrading/amending a certain room or area that could do with a bit more than just a fresh coat of paint, do some research and think about what will add the most value. While often the more expensive options, bathrooms and kitchens tend to be the smartest choices for driving your home’s value up.
Strip Back To Basics
If selling your property or renting it out unfurnished to tenants then this point might not apply to you, but it’s still an important one worth making a note of. Cutting down on overbearing furniture and removing objects and decorations that aren’t needed will free up valuable floorspace, increasing the liveable appeal of your property and potentially giving it a desired, modern minimalist feel. Not only this, but by selling on old furniture, bits and pieces that you no longer have a use for, you can then generate some additional income which you can then funnel back into your own pocket or into more renovations for the property itself.
Make The Most Of The Location
Perhaps the most important aspect of an investment or rental property is its location, and while you of course can’t go physically moving an investment property that you own into a different location, you might be able to start doing more to highlight the benefits of the area that your property is in.
If you take a look at RWinvest, an award-winning property investment company based in Liverpool, their website highlights many different points of interest around the city and their Liverpool properties, such as proximity to popular bars, restaurants, universities, and travel connections. Employing a similar strategy with your own property and taking a look at some of the most popular spots in the area will make it easier for you to market it.
Transform Unused Spaces
Got a garage that’s just collecting dust and filled with clutter, or an attic that doesn’t get used for anything in particular? Where possible, you may be able to make the most of these spaces in your home, repurposing them as additional rooms that can add a good amount of value. For example, you could decide to turn a garage into a personal gym area by investing into some equipment, or turn an attic/loft area into a games room for children.