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Top ten tips for adding value to your investment

Top 10 tips for adding value to your investment

We know the importance of effectively maintaining a property to ensure the best possible rental returns and ensuring long term capital gains for our investors.

There are some areas where your money may be better spent to prevent overcapitalising on your investment and these include the following:

1. Kitchen

New cupboard doors and handles can transform a
kitchen and it’s a relatively inexpensive way to give the
whole room a fresh modern makeover. Colour can also
date a kitchen so consider repainting or re-lacquering
cupboards to freshen the look.

2. Tapware

Fitting new and 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 or use a grout
pen to fix any discoloured areas. Also, think about
ventilation to prevent buildup of moisture.

4. Paint & carpet

Giving your property a lick of paint and replacing
old carpet can instantly lift its mood and look. A
contemporary colour palette brings a sense of
modernism and can increase the potential tenant
pool, as well as the asking price. Even just thoroughly
cleaning walls, skirting boards and doors and getting
old carpets steam cleaned can brighten the look of a
tired home.

5. Gardens & outdoor areas

Invest the time to ensure all the gardens are in a tidy
state and are low-maintenance, where possible, for
future tenants. Use a high pressure hose to give all
pathways and paintwork a good clean and improve
their overall appearance.

6. Light switches

Replacing old light switches is a cost effective and
easy way to refresh the look of your property and
can also help prevent further maintenance issues in
the future.

7. Window treatments

Curtains or 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 and look at using options that
are hard wearing and easy to replace in the future if
necessary e.g. Venetian blinds and associated cords
can often break, leading to costly repairs as well as
being a health hazard for children.

8. Entrance

First impressions can heavily influence a tenant’s
decision to rent a home as well as what they are
willing to pay. Look at the entrance to your investment
property and whether or not this could be improved
with minor expenditure e.g. security lighting, painting
the door, flower pots, letterbox etc.

9. Lighting

Great lighting will improve the way a property
looks and feels for a tenant. Modern lighting can
dramatically change the look of an older property
as well as helping prevent any maintenance needed
on older lighting systems during the future of
the tenancy.

10. Security

Consider installing a burglar alarm or similar security
devices. Window locks are essential in ensuring that
the property is secure. Your tenants will have contents
insurance and their insurance company will want to
know that the property can be secured. Occupants
want to feel safe in any property that they’re renting
and this adds huge appeal for family tenants as well
as increasing the chances of you getting the best
possible rental return