If you’re planning to rent out your property, you will need to make sure that it looks appealing to potential tenants. To ensure they are interested in your property, you should consider making some adjustments that will impress the right tenants and provide you with a substantial and steady income.
Before making any changes, you should read the following tips, which will help you understand the most effective upgrades that will enhance the value of your property.
Upgrade your insulation
The majority of newly built homes come with the benefit of high-quality insulation, which is great for keeping the property warm and preventing any heat or cold air from coming in or out. This is an advantage to tenants, as it will allow them to significantly reduce their energy bills since they’re less likely to put their heating on, as the insulation provides efficient warmth.
If you have an older build, you should definitely consider updating your insulation to boost your property’s prospects. This is proven to be a great selling point, as property experts like RW Invest utilise durable insulation in their developments which lasts for a very long time. Investors who purchase properties like this gain massive interest from tenants who are in search of a sustainable rental, which will help them to reduce their outgoings. Like them, you can also reap the benefits of insulation, which may be costly at first, but it is definitely worth it in the long run.
Make your home smart
Speaking of sustainability, you should consider installing smart home technology in your rental to keep up with the demand for eco-friendly living. This is important, as more and more tenants are becoming interested in properties that help them reduce their carbon footprint and also save on their energy bills.
To keep your home smart, you should consider investing in a smart thermostat, which will help tenants monitor their energy usage – making them more eco-savvy. Other forms of smart home technology include hi-tech lighting, such as Wi-Fi and Bluetooth operated lightbulbs, which can be turned off using your smartphone. You could also consider automated lighting systems, which conserve energy by only turning on when someone enters the room, and they also switch off after a certain amount of time.
Update the kitchen
One of the greatest property selling points is an impressive kitchen, so if you feel like your kitchen is mediocre, you might want to consider upgrading it. However, you should make sure that you do not go overboard with your kitchen renovation, as you will still need it to fit in the with the rest of the house.
Instead of a complete renovation, you should just make some minor changes that will actually make a massive difference. This could include repainting your kitchen walls in a modern colour, like blue or yellow, which can be used on a feature wall to make the kitchen stand out without being too overpowering. If you plan to rent out a furnished property, you could even update any appliances to maintain tenant interest.
Create more space
Tenants tend to seek out spacious properties, so you should consider creating more space to generate interest. You could start by rearranging your furniture to see if you can make more space in the living room or bedroom. Adding mirrors to smaller rooms is also a great way of creating the illusion of space, due to their ability to reflect natural light.
You could also expand your space by converting an attic or a basement into an office space or spare bedroom, which should add instant value to your home. This can be a costly process, so before you decide to do this, make sure you have the funds in place to take on this type of renovation.