TOP 10 TIPS FOR ADDING VALUE TO YOUR INVESTMENT 1. Kitchen New cupboard doors and handles can transform a kitchen and it’s a relatively inexpensive way to give the whole room a makeover. Colour dates a kitchen too, you can’t go wrong with white. 2. Tapware Fitting new, matching tapware throughout will benefit the look of a property and is a simple way to modernise a dated home. 3. Bathrooms Consider re-grouting tiled areas and think about ventilation; a fan, window stays to allow secure openings, or a shower dome to prevent the build-up of moisture. 4. Paint Painting the property can instantly lift its mood and look. A contemporary colour palette on walls brings a sense of modernism and can increase the potential tenant pool, as well as the asking price. 5. Gardens and outdoor areas Invest the time to ensure all the gardens are in a tidy state and are low-maintenance, where possible. Use a high pressure hose to give paths and driveways a good clean and improve their overall appearance. Assess the available outdoor spaces and the possibility of creating new ones. With effective links to the interior, your house will appear larger and more functional to prospective tenants. 6. Light switches Replacing old light switches is a cost effective, easy way to refresh the look of your property and can also help prevent future maintenance issues. 7. Window treatments Curtains and blinds are another area which reflect the era of a property and can easily date a home. If replacing the window treatments think about the long term functionality. Look at options that are hard wearing, easy to clean and repair (or replace). 8. Entrance First impressions can heavily influence a tenant’s decision to rent a home as well as what they are willing to pay. Consider how the entrance could be improved with minor expenditure e.g. security lighting, painting the door, quality lock/s, new doormat, letterbox etc. 9. Lighting Modern, energy efficient LED fittings can dramatically improve the look of an older property and reduce tenant’s electricity bills, whilst saving you future maintenance. 10. Burglar alarm Consider installing a burglar alarm or similar security devices (such as window locks). Occupants want to feel safe in any property that they’re renting and this increases the appeal for families as well as the chances of you getting the best possible rental return. We understand the importance of effectively maintaining a property to ensure the best possible rental returns but also the long term capital gains. There are certain areas where your money is better spent to prevent overcapitalising and these include:
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