Skip to Content

4 Home Upgrades Worth the Investment

Contemporary blue kitchen with renovated windows, cabinets, and countertops.
Many investors realize that improving Ballard rental properties is vital to maintaining tenant interest. Additionally, these upgrades can significantly boost the value of their investment.

Particular home improvements can notably enhance the property’s value. It’s essential for rental property owners to identify which improvements deliver the best ROI for enduring success and profitability.

Kitchen

When planning renovations for your rental property, begin by comparing the construction costs to the potential increase in property value. A recent survey across the nation revealed that most home sellers consider kitchen updates to have the highest ROI.

Yet, this doesn’t mean you have to entirely renovate the kitchen to enhance your property values. Instead, simple updates like refacing cabinets, replacing appliances, or adding a new countertop, sink, or faucet can refresh your property’s interior without a hefty budget. This enables you to achieve significant upgrades without exceeding your budget.

Bathroom

Bathrooms follow the same rule, where minor upgrades can substantially boost value if your property’s amenities aren’t outdated or unattractive. Think about upgrading old, worn tile tub and shower surrounds with a new fiberglass overlay. Add a new vanity and mirror, or think about giving the room a fresh, light paint job. Replace old vinyl flooring with tile to achieve an even better upgrade.

The long-term advantages of using tile are even greater because it lasts for decades without needing replacement and feels more upscale than laminate flooring, despite a similar cost. This reassures you that your investment will be long-lasting.

Stone Veneers

First impressions play a key role in renting a property. So, why not refresh the exterior of your property? One excellent upgrade is installing manufactured stone veneer on the front exterior of your property. This upgrade not only revitalizes your property’s appearance but also boosts its appeal to tenants, providing a good return on investment.

According to a cost vs. value analysis, replacing vinyl siding with stone veneer around entryways, pillars, or the lower third of your front exterior walls helped sellers recoup nearly all of their installation costs. Making upgrades before selling can boost profits by making your rental property more marketable and enabling higher rents.

Doors and Windows

Targeted remodeling can lead to the greatest return on your investment. Garage doors and windows are two examples. Plan to replace the garage door on your rental property when it becomes worn or damaged.

Though it appears small, a new garage door can significantly boost your property’s value, like stone veneers. Likewise, swapping old windows for new vinyl ones improves looks, safety, and energy efficiency. Home improvement projects like these can be very beneficial when filling a vacant rental.

Property improvements and upgrades can be both costly and time-consuming. However, these improvements are important for the lasting success of your rental property investment in Ballard. Planning and budgeting for ongoing improvements help keep your rental property competitive and valuable.

To create a rental property that will attract both renters and buyers, call Real Property Management Uintah at 435-214-4686 or contact us online. Our property managers in Ballard can assess your property’s condition and recommend cost-effective solutions.

 

Originally published: July 8, 2022

We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.

The Neighborly Done Right Promise

The Neighborly Done Right Promise ® delivered by Real Property Management, a proud Neighborly company

When it comes to finding the right property manager for your investment property, you want to know that they stand behind their work and get the job done right – the first time. At Real Property Management we have the expertise, technology, and systems to manage your property the right way. We work hard to optimize your return on investment while preserving your asset and giving you peace of mind. Our highly trained and skilled team works hard so you can be sure your property's management will be Done Right.

Canada excluded. Services performed by independently owned and operated franchises.

See Full Details