When it comes to updating and renovating residential investments for sale, be it a house, a condo unit or similar other structure, it is important to make sure that the improvements made not only add function and aesthetic to the asset but also help in further increasing its value.
It doesn’t come as a surprise that residential units depreciate over time. Their financial worth diminishes after use as a result of wear and tear. There are many ways to flip the coin and encourage appreciation instead and one of these would have to be renovations. But then again not all of these efforts turn out to be valuable and it is an investor’s job to make sure that should they be taken, the action is worth every single dime.
Now, we’ve got a list of 4 valuable renovations for residential investments for sale and you better make sure to take down some notes.
- Kitchen Upgrade
Everybody loves a good kitchen and it’s not surprising how an upgrade can boost up value. Of course, this is only applicable when things are done right. During a kitchen renovation, make sure to always uphold mobility, ease in cleaning, space, lighting, storage and appeal. One doesn’t have to break the bank though as even the tiniest upgrades such as changing up the cabinet doors can do wonders.
- Bathroom Remodel
Next up to the kitchen will always be the bathroom. The same rules apply here: space, storage, lighting, function and aesthetic.
- Attic Transformation
Another valuable upgrade would have to be the addition of new rooms and we don’t mean having to extend one’s property but rather transform an idle and often unused area into something more useful. The attic is one often overlooked but very promising room. It can be turned into an extra room, a home office or even a trusty storage area that’s useful and so unlike the ones you see in horror movies.
- Deck/Patio Addition
Lastly, the addition of a deck or patio can add value to a residential property investment. What makes this addition a pretty sweet deal is the fact that it expands living space at a fraction of the cost. Plus, al fresco activities and even dining has become a huge trend in the market for the past decades up until today and is something that many buyers are always looking out for.
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