Would you like to get more out of your investment? Renovating your property is an easy way to get more rent, a better quality tenant and an increase in capital growth in a reasonable quick time frame but rrenovating a property is never an easy task. Have you ever considered this and would you know where to start?
For your kitchen we recommend the use of a glass splash back rather than tiles. It means less up keep with re-grouting and the issue of the staining of the grouting behind your stove top.
Under cupboard lighting can also add an extra brightness to the corners in a kitchen lacking natural light. Always install a dishwasher and electric oven when you can. If you have had a gas oven you may find the cost surprising to replace one of these and a cheaper option can be running a new wire to the switchboard for an electric oven. This usually would only be done when updating your kitchen.
Little things like making sure you have a bin installed and a cutlery draw insert will make living in your property a dream for your tenants.
Roller blinds are easily maintained over the use of curtains. Curtains get dusty and are much harder to clean. The roller blind adds a modern feel and the use of a double hung with a sheer and a block out adds a little more class and softer feel to the rooms they are installed in.
Carpets should never feel cheap under foot or be too light in color. Too light all of the marks will show and cheap always feels cheap. Especially in the bedroom! Carpet should always be put in the bedrooms when you have an option for polished boards. It is nicer to get out of bed with your bare feet to a carpeted floor than a cold hard wooden one.
Choose tiles over lino in wet areas. The cost is not a lot different and you will have a longer life span. There is no chance of dinting tiles with heavy appliances such as fridges or cutting them by dropping a knife.
Think about the type of tenant you will be looking for. Would your property be attractive for families with younger children. If not remove the bath when renovating a bathroom. A shower over a bath is not ideal but if you do not have the room and a family could be likely keep it.
If you do not have taps for a washing machine in your apartment, can you fit them somewhere? Do you have extra storage space hear your bathroom? Can you turn a cupboard into a European laundry? Can you remove the bath in a one or two bedroom apartment and replace it with washing machine taps? The taps would be preferred over a bath in these situations.
Keep your colors natural throughout. Let your tenants add their flair with their own colors. Adding feature walls, strong colors to cabinets or splashbacks can be a turn off for a lot of prospective tenants so do not give great tenants a reason to say no to renting out your investment.
Do you have a neat and easily maintained garden. Mulch the beds to keep them weed free and to help maintain the moisture. Make sure the plants compliment your property and are hassle free from the constant need of pruning.
Often a renovation will gain you an extra 10% on your rental return – not to mention the injection to your capital growth that you can then leverage on to purchase a new property if you wish! For more information call the team at Domain & Co. to find out how we can achieve these results for you.
To see some before & after pics click on the link - http://info.domainandco.com.au/beforeandafter/