When it comes to renovating an investment property, it’s important to keep in mind what renters want in Swan Hill. If you’re unsure, your property manager can advise you.
The benefits of doing some renovations to your rental property are well-recognised. First, you’ll be able to attract quality tenants who will happily pay more and second, you will raise the value of your property in the long term.
Here are five things you should consider when renovating your Swan Hill investment property.
1. Benchtops
Make sure that the benchtops you select are easy to clean and low-maintenance. Natural stone and marble counters may look beautiful, but they can scratch easily and will need resurfacing or replacing every few years. Natural stone counters such as granite are also susceptible to staining as well as being expensive.
Instead, select quality benchtops such as durable laminate that will stand the test of time and are more cost-effective for owners.
2. Wall and tile colours
If you’re considering repainting the walls (and you should if they’re looking a little tired), stick to neutral colours. This will make it easier for renters to add their own personal touches with the accessories that they have.
Also remember to keep the colour scheme cohesive throughout the home. Avoid different coloured walls in every room.
Use the same theory when it comes to selecting tiles for the kitchen and the bathroom. Keep the colours neutral and try to match the tiles in the kitchen to those in the bathroom.
3. Flooring
When it comes to replacing the flooring, select durable materials. While natural wood is beautiful and fairly easy to care for, it can scratch when furniture is moved around and can be expensive to install and maintain over the long term.
Instead, why not consider vinyl planking. This flooring material is much cheaper to install and highly durable. Use this in the main living areas and perhaps consider a durable, hard-wearing carpet for the bedrooms.
If you’re considering tiles for heavy traffic areas such as the kitchen and bathrooms, remember that the grouting can become grubby over time. Therefore, choose the grout colour carefully.
4. Storage
Let’s face it, you can never have enough storage in a home, so consider adding extra storage if your investment property is lacking it. You can get creative here by finding extra nooks and cavities within the home where you can add a little extra storage space.
Also consider that it’s better to have closed storage rather than open shelving. Closed storage can hide a multitude of sins and doesn’t require constant decluttering and dusting. Think about what most renters would prefer when updating the storage solutions in your rental property.
5. Window Treatments
Whether you select blinds or curtains, keep your renters in mind. Holland blinds are easy-care and you can even get ones with a thermal backing and with blackout options. These are ideal for west-facing windows as they help to keep the home cooler in the summer. Your renters will thank you for installing these because they will help to keep their energy costs in check.
On the other hand, venetian and vertical blinds are much harder to clean and maintain. They are also much easier to damage, so try and stay away from these.
If you find that curtains are more suitable for your property, ensure that they have thermal properties. This means that they can keep the home cooler in summer and warmer in winter. Once again, this helps your renters to manage their energy costs better.
Having a low-cost but good-looking renovation will attract better renters and increase your rental returns.
Can we help with your Swan Hill home?
We’re full of great ideas on how maximise your renovations without overcapitalising, so why not give us a call on 03 5032 2507. We’re here to help.
