With the mortgage rates going down, it is an excellent time to invest in real estate. The current market makes it easy for you to get your investment in no time. But you have to put in additional money and time for this to happen. Listen carefully to us as we enumerate the different ways to make your property appealing to potential buyers.
Even if you are purchasing a turnkey property, you may want to make some modifications. Doing this will ensure that your investment will stay in the market for a long time. But before you do anything, you must consider how much you are willing to spend on this project. As a rule, your budget should not go beyond 6-10% of the selling price.
All of these may be a bit too much to figure out. But with our help, your first real estate investment will be a success. Let us map your steps.
Garden
Make an effort to beautify your garden. It is the first thing that potential buyers notice. If you are working on a tight budget, you can stick to basics such as exterior walls and the lawn itself. Let us say that you bought a Mediterranean-style bungalow. Most homeowners would stick to earth colors for this type of home.
Doing this will make your property blend in with other lots for sale. Why not use white as the predominant color? Then you can use black for the architectural trims. To make the house truly stand out, you can paint the door blue.
If you have a sizeable budget, you can invest in a covered walkway and canopy. It may seem extravagant. But remember that our goal here is to catch the attention of potential buyers. This improvement will become your property’s selling point. Customers have not even gotten inside the house.
We also suggest replacing rusty doorknobs and the gutter system. You can also install a new fence. Even better about these additions is that you do not need to hire a contractor to do this for you. You can very well finish this task in one weekend.
Kitchen
The kitchen is another part of the house that can help sell the property. But it is easy to go overboard when buying materials for this renovation project. Before you do anything, you must inspect the overall condition of the kitchen.
We highly suggest repainting your kitchen walls. It is an inexpensive way to freshen up its look without breaking the bank. Remember you still have to work on other parts of the house. In this case, you should work on superficial changes. This way, you can save on labor costs by doing the job yourself.
You might want to invest in a granite countertop. According to HGTV, it can add value to your home. Their article also warned us not to go beyond the budget. If you have spent a considerable amount on this improvement, you can balance it off by repainting the cabinets. It will freshen up your kitchen’s look without racking up a substantial bill.
Another neat trick is to replace the knobs and faucet. Together with the previous tip, it will create the illusion that you bought new cabinets.
Bathroom
According to HGTV, prospective buyers also take a close look at the bathroom. With this in mind, you may need to splurge on it. But they also mentioned that you could cut costs by doing some of the work yourself. A quick word, though, about doing the job yourself. You should avoid doing major plumbing works because it might result in a more costly repair.
Let us say that one of the bathrooms is all white. Although this color makes the particular room look huge, it might come out as too bland. We highly suggest covering half of the walls with colorful wallpaper. It will give that oomph that the room needs without breaking the bank.
In this situation, you could leave the cabinets white. Another option is to leave the walls as is. But you will repaint the cabinets with bright, bold colors. Doing this will give the said room the needed pop of color.
Just like the kitchen, a stellar countertop can seal the deal. After scrimping on some elements, you can indulge in a top-notch countertop. You can keep your cabinets white so that they will match the white marble counters. To give that oomph, you can throw in a few black accessories like a black-framed mirror.
It is a balancing act. You can cut costs on some elements while splurging on others. Doing this will ensure that you can maximize your profit.