How To Increase The Value of Your Investment Property
There are many ways you can add value to your investment property. If you have built a home on a residential block then there are many options open to you. If you are looking to add to your annul income through investing, property investment is a sound and worthwhile avenue for you to take. Building a new home or even renovating an existing home can make you a significant amount of return on your money.
If you have built a new house you can add significant value to it by putting in a garden. You can hire a landscaper to do it for you or spend the time yourself. Depending on the fall of your land you may choose to put in retaining walls, which give you raised garden beds, and these structures also add to the value of your property. It is a good idea to establish your garden as soon as possible because it will need time to grow. A tidy garden will improve the look of your property and definitely increase its value.
To increase the value of your investment property put in a garden early so that it has time to get established, build an entertainment area and look at putting in a pool.
Things like a covered paved area in the back garden are a good idea, especially as most families enjoy having a barbecue area for entertaining. Whether you choose concrete, paving or decking for the outdoor area, it is entirely up to you and your budget. There are plenty of options for shade, including verandas or patios, or shade created with sail cloth is popular too.
An in ground pool will definitely add value to your investment property, although think carefully before you install one because when you go to sell it this may end up being a negative as not everyone wants a house with a pool for reasons including it is a lot of work to maintain, they may have small children or they wouldn’t ever use it. Have a talk to your local real estate and get their opinion on how well homes with pools sell. You could find it worth your while.
Fences and gates
You will need to put up boundary fences, if they aren’t already there, which this is usually something needing to be done when you buy property in a new estate. Put in proper gates as well which are secure as well as offering people privacy.
If you are building a new home there are certain things that stay if you go to sell, like curtains and blinds, carpet and light fittings. A lot of new homes include carpet nowadays, but often curtains and light fittings aren’t. It will pay to have curtains, blinds or shutters installed, as well light fittings. It finishes off the house nicely and you will find them necessary if you go to sell the property.
Shed and other structures
Other structures like a shed will certainly add value to your investment property, and if you are planning on having tenants you need to provide things like a clothes line and TV aerial. You want your house ready so that tenants can just move in without having to ask for addition fixtures.