5 Real Estate Tips to Refurbish an Investment Property

Are you planning property refurbishment in West London but not exactly sure what you need to do to maximise the ROI? Renovating an investment property can be a complicated business. You want to make as big of a profit as possible. However, you also need to ensure that no corners are being cut for the sake of making more money. Read through to know which improvements are going to enhance the value of the home, without going overboard.

1. Focus on Small Repairs

Repair before replacing is the smartest thing during the renovation process. Repairs are always going to be way cheaper than the total replacements, so always make replacing your last option.

Whether its carpets, light fixtures, or floors, you must focus on cleaning and repairing them first. If there’s something which is broken entirely, see if you can replace pieces of it before spending money to replace the complete thing. Also, if you need to replace an entire cabinet, countertop, sink, or tub, go for the off-the-shelf parts that won’t cost you a lot.

2. Focus on Kitchens and Bathrooms

Yes, though we spend most of our time in our living rooms and bedrooms, the bathrooms and kitchens are what sell the homes at higher rates. You’ll have quite a harder time selling the house if you don’t focus on updating these rooms,

Focus on replacing anything which makes these rooms look old, like the wallpaper, flooring, or countertops. You can use a remodelling calculator to have a rough idea of how much you’ll be paying.

3. Nail the First Impression

What’s the first thing home buyers will notice when they pull up to your driveway? It’s nothing inside the home.

That’s right; it’s the home exterior. A fresh layer of paint and a spruced up beautiful landscape can go a long way when selling a property. These first impressions either make or break your investment return, so make sure they get the best amount of care and consideration just like your interior.

4. Wash Walls and Repaint

You won’t believe what some washing, as well as repainting, will do for your property.  When you repaint, stick with light, neutral colours. Neutral is best for allowing people to feel like they can quickly match their decor. And light helps make your space feel bigger.

5. Establish a Budget

Once you have an idea of what should be fixed- something you hopefully had an idea about before you bought it’s time to establish a budget and try to stick to it. If unexpected expenses come up, don’t break the budget. Just cut back on the non-essential repairs.