Property Investment Tips: Increase returns through renovations

By the resi financial blog team, 14 February 2014

Increase profits from my renovations

Property investment is a great way for people to earn wealth towards their future. Building a portfolio with a wide variety of different properties can help you to earn different incomes, helping you to get the most out of your investments. 

Whether this comes through increasing demand for rental properties or the natural capital growth that comes from the strengthening of the national real estate market, investment can be a lucrative avenue for wealth generation - especially if approached in the right way. 

However, there are a number of ways smart investors can take the value of their properties into their own hands. One of the best ways to help change the overall value of a property is to do renovations - making additions or improvements with the goal of increasing the value of the real estate. 

Upgrading the kitchen

A main focus point of a property is the kitchen. A lot of time is spent in this room, so it's important that it not only serves a functional purpose, but looks aesthetically pleasing as well. Therefore, one way to help increase the value of your investment property is to renovate the kitchen. 

This could be anything from replacing the appliances with newer models to completely replacing the benches, countertops, lighting fixtures, splash backs and flooring. Making the kitchen as appealing as possible is a great way to garner more interest in your property. 

Rejuvenate your floors

Having dirty, tired-looking floors is a great way to turn buyers off. Something as simple as a quick polish for wooden floors, or a deep clean for carpets, is enough to breathe new life into your home. 

However, consider replacing the flooring material completely. This will give your investment property a new lease on life, and help to increase the overall return you could earn from the sale of the real estate.

Categories: Property Investment