The BLOG! - MD WV HOMEBUYER
Investors! How can you get your Rental ready at a budget friendly cost?
Considered these 3 main categories when preparing your rental that will give you the maximum value without breaking the bank.
#1. WITHOUT A DOUBT - DO THESE!
• Paint- Make sure your kitchen has a light, bright, or neutral paint scheme. Try to stay away from bold wallpapers that can make your kitchen look tacky or noisy. Lighter shades can also make the room itself appear larger and cleaner.
• Lighting- Your kitchen should always be well-lit up for good functionality. The size of your kitchen will control the number of fixtures you will need to generate the required lighting but color plays an important role as well. If your kitchen is white, it will reflect back light making the room feel bright and glowing. If you have a dark finish, you would require more light to insure proper lighting in the kitchen.
• Fixtures- While these seem like little things, they can be eye catchers. The hardware on cabinets and door knobs SHOULD ALL MATCH (typically a silver tone through all fixtures is usually recommended)
#2. STRONGLY CONSIDER THESE UPGRADES!
• If you have hardwood….KEEP THE HARDWOOD!
• If you have Tile or Laminate there are many affordable options that can be installed. Recommended: neutral, wide planked, good quality tiles for a clean finish.
**Keep In Mind**
GOOD STAND OUT:
THE POP = BACK SLASH: This is a nice accent piece placed along the wall to make the kitchen pop to the eye of the buyer. This will grab their attention without making the area look too busy. There are so many Realtors/Buyers/Sellers/and Renters that get excited when they see a nice Back Slash in a kitchen because they know that this is "The Pop".
BAD STAND OUT
MIXED MATCHED APPLIANCES: Keep your appliances all the same color (but they do not necessarily have to be the same brand). Nothing looks tackier than a kitchen with chrome and black or white and black or white and chrome. Pick a color and stick with it. There are affordable ways to find nice appliances that can match together without having to spend tons of money.
#3. MORE WAYS TO ADD VALUE!
• Repaint what you have. While you are tearing your kitchen apart to repaint, this may be a great time to replace and update your fixtures.
• Add an island or portable island to your kitchen to grab the buyers’ eye. This can serve as a very functional piece as long as it doesn't make the area look cramped or confined.
• Counter tops: refinish/paint/coat your existing counter tops to make the kitchen look more upscale. There are tons of different paint options and even ways to make the counters look like stone without paying all the extra money!
• Sometimes there are parts of the counter that are just unsalvageable. If you have kids or animals then you will understand. By adding a Butcher Block, you can cover up the problem areas. This is a genius way to save money for the seller while giving the space character and functionality for the buyer.
These are just a few ways to make your rental “live-in ready” without breaking your bank but there are many other ways as well. We find that Simple Is Key but we love to see what creativity people can come up with when refinishing their investments. So keep in mind that while this can be overwhelming, every house is unique and there are so many ways to make your home stand out to the perfect renters and/or buyers.
6/1/2022 06:06:45 am
Good reading yourr post
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Bill is an Investor and Agent working with Investors in Md, WV, and PA.