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8 Tips to Maximize Your Property’s Return on Investment

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8 Tips to Maximize Your Property’s Return on Investment
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Today, selling or renting out your property isn’t as easy as it used to be. The market is oversaturated and home ownership is out of young people’s reach because of the increasingly difficult economic situation all over the world. But don’t think it’s impossible to sell/rent for a satisfactory price and get a good return on investment! Here’s where to invest for a good payoff.

Provide the necessary amenities

Most buyers and renters are only interested in a property that is ready to move in. As soon as they notice amenities like air conditioning, central heating or household appliances missing, they will either lose interest or offer a lower price. But if you provide them with current models in pristine condition, you can expect to achieve a premium price for your property. Energy efficiency and eco-friendliness are also something buyers and renters want today.

Develop your property

If you have a large property with only one dwelling, you might want to consider building some additions. Granny flats, garages or pool houses will instantly increase the value of your real estate and command higher prices and allow more tenants. They are perfect of larger families, families with young adults that need increasing privacy and elderly who need to be close to their family.

additional outdoor room

Create a duplex

One of the best ways to sell or rent out your property quickly is to divide your single family home into a practical duplex. This type of property is quickly gaining popularity, especially in urban environments like Sydney because of its housing shortage. Plus, it doesn’t require huge expenses as long as you go with good contractors. For instance, trustworthy duplex builders in Sydney will do all the heavy lifting while you only have to choose the design and pick up the key in the end!

Make it pet-friendly

If you make an effort to create a pet-friendly property, you will instantly boost its value and attractiveness. Many people today are willing to pay more for a space that provides their pets with comfort and welcomes them without too many demands. That’s why a pet-friendly property rents and sells much faster than the competition and provides you with a huge point of difference. So, think doggie doors, fences, balcony screens and other animal-friendly additions.

dog in the backyard

Transform your outdoor space

Most of the buyers and renters of today want a home that is stylish and attractive while demanding minimal maintenance and investment on their side. Sure, huge lawns, many flower beds and big trees look amazing, but they require mowing, fertilizing and pruning. So, it’s always better to create an outdoor space with low-maintenance plants, artificial grass and plenty of decking for entertainment. These offer plenty of comfort and ask very little in return.

Small changes count

Small improvements, remodels and renovations will also ensure a good return on investment. Even tiny details like attractive decoration, new hardware, fresh flowers or deep-cleaned carpets can make your home more presentable, welcoming and attractive. These will set you back only a few hundreds of dollars at worsts but achieve great results that will make your property stand out from the competition.

two women seating outside the house

Find the right people

This is an especially important advice for all of the renters out there. When you spruce up your property, it will most likely result in quality and happy tenants. This means fewer complaints and less vacancy time that are only costing you money. Additionally, it also means no hassle of re-advertising your property and wasting time on showings. So, happy tenants equal better return on investment!

Stage it properly

Many buyers and tenants lack imagination and can’t see the real potential of the property unless it’s perfectly staged. Declutter the space, give every room a clean function, create a practical layout and make the space look airy and bright. If you’re still living in the house you want to sell or rent, remove your personal properties out of sight. Good staging is really a minimal expense that can make or break the sale, so don’t skimp on it.

Upgrading and expanding your property will certainly maximize your investment returns and earn profit quickly and efficiently. And remember, even the smallest home improvements can attract the right buyers or renters and leave you with a hefty check!

Derek Lotts is a Sydney based writer and researcher, a regular contributor at Smooth Decorator blog. He writes about décor, gardening, recycling, ecology and business. He thinks all of these topics fall under the self-improvement category. He believes in the power of sharing ideas and communicating via the internet to achieve betterment.

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5 Ways to Take Your Home’s Curb Appeal to the Next Level

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5 Ways to Take Your Home’s Curb Appeal to the Next Level
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When decorating a home, most people focus only on the interior. However, the first impression your visitors get would always be of your exterior, which is why you should make sure it looks the best it possibly could. So, to help you bring your curb appeal to the next level, here are five suggestions you should consider.

Keep it neat

One of the easiest ways to increase your curb appeal is to keep your exterior tidy. This means that you should mow your lawn frequently, and you should trim your hedges, bushes, and trees as soon as they start looking messy. They are a wonderful addition to any yard, but only if they are kept neat. Moreover, consider pressure washing your house, fence, pathways, and garage; just make sure you know how to do it properly so you don’t peel off the paint.

washed house

Also, if there are any gardening tools lying around, find a place for them, and move your garbage cans somewhere out of sight. In short, if it’s not visually appealing, it should not be in the open.

Freshen up the paint

A new paint job can entirely transform the look of your home, and it’s one of the best ways to keep it looking fresh and modern. Mobile scaffolding can come in handy here, since safety always comes first when painting hard-to-reach places. Besides upgrading the walls of your house, you should also repaint your fence and garage doors. After all, both of those take up a lot of visual space, which is why they should look presentable.

house painted in white

Additionally, consider using your garden plants to emphasize the style of your home by matching the colors of the flowers to the main colors of your house. This would make your exterior look much more balanced, and it would show all your guests and visitors that you pay attention to the details as well.

Bring your front door to the next level

Your front door is the entrance to your home, so it’s bound to be noticed. An eye-catching front door could be just the thing you need in order to add some personality to your home. So, consider replacing your usual front door with something a bit more unique and custom-made. Of course, the paint should also be fresh and vibrant, and the doorknob should be clean and shiny. To finish it off, add a nice wreath and a welcome mat, and your front door will become a perfect representation of your entire home.

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Don’t forget the small things

There are many small things that people usually ignore when it comes to decorating, but they actually get noticed quite a lot. For instance, house numbers are easy to swap, and they can make a bigger impact than you might think. You can use them to reflect your house style; use a bit more serious font for an elegant home, opt for colorful tiles for a more cheerful theme, or use aged copper for a vintage-style home.

front door

Similarly, if you replace your typical mailbox with something a bit more unusual and perhaps handmade, it is bound to draw attention. It’s another great way to show off your personality, and if you have a family, it can be a great family project as well.

Light it up

Lighting is just as important for your exterior as it is for your interior. After all, it won’t matter how beautiful your garden is if nobody is able to see it after the sunset. So, think about adding lanterns or small solar lamps along the pathways. String lights are also a great choice, as they can help you create a soothing atmosphere. They are also very versatile; you can wrap them around the trees or place them along the patio railings. Finally, if you have any focal points in your yard, make sure they can always be seen as well.

exterior by night

Making a good first impression matters regardless of whether you want to sell your home, impress your neighbors, or simply enjoy your environment. So, put some effort into keeping your yard clean, refresh the paint where necessary, pay attention to the details, and the result will make your property look like million bucks.

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Outdoor Rooms and Granny Flats: How to Choose

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Outdoor Rooms and Granny Flats: How to Choose
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If you have a big backyard but you’re not quite sure what’s the best way to use all that space, there are a couple of things to consider. First, try to figure out just how much room you actually have. This won’t be particularly difficult, as if nothing else, you can measure the space. Next, if you have enough room, consider adding a new structure to your backyard. The two most interesting choices come in the form of either outdoor rooms or granny flats. Both of these options have some unique advantages, so we’ll try to present them in the following text.

Outdoor rooms

Building an outdoor room requires less construction work than building a granny flat. On the other hand, an outdoor room is significantly smaller and not as versatile function-wise as a granny flat. The outdoor rooms usually consist of three walls plus a ceiling, and the fourth wall is made so that it can be opened completely, most commonly using glass sliding doors. Also, you can either decide to make your outdoor room work as an extension of your home (in this case, it’s almost always attached to the house) or you can decide to build a separate, independent structure.

outdoor room

Design-wise, an outdoor room can literally work as the extension of your home, and if that’s the case, it is usually decorated with a toned-down version of your home’s interior design. However, if you decide to make it a separate structure, the design of your outdoor room doesn’t have to match anything. This will allow you to go crazy, but keep in mind that the room should be functional, cozy and relaxing, above all else. Boho chic, shabby chic, Moroccan, modern-rustic, modern-eclectic, etc. – literally any design will work gorgeous in this room.

Granny flats

Granny flats are a rising trend during the last couple of years, especially in well-developed countries such as Australia. These structures are usually made as separate objects, and they are most commonly equipped just like the regular house, only scaled down. Since building such a structure requires professional help, ask around and see if there are any experts in your area that can help you out. For example, experienced granny flat builders from Sydney even help you design your granny flat and offer various other consultations, seeing the entire project through from start to finish.

wooden granny flat

When talking about the design, you should really treat styling-up this area as you did your own house. The important thing to keep in mind is that there is no room for clutter in a granny flat, so it’s best you design it with minimalism in mind. Some of the favorites include the infamous Scandi style, Wabi Sabi or the good ol’ minimalist style. Do note that granny flats also contain the kitchen and the bathroom, which means that you’ll basically have to design and decorate a whole new house, which is perfect for any interior design lover.

Important notice

Now that you know what’s what, choosing which one to build should be significantly easier. An outdoor room is the area where you can relax and enjoy some peace and quiet, while a granny flat can accommodate either your elderly relative (hence the name) or you can even choose to rent it out for some additional budget boost.

outdoor living space

Another important thing to mention is that, before you decide to build either one of these, you must go to your local authorities and inquire about the rules and regulations. Know that you will most likely have to obtain a couple of licenses and permits, so take care of this in time to avoid having to pay hefty fines.

Finally, if you decide to rent your granny flat, know that you will be getting only one set of utility bills for your entire property (granny flat included) so you must figure out how you will be charging the rent. Of course, check out the local laws regarding this as well.

As you can see, there are a few ways you can use the extra space in your backyard either for your personal pleasure or as a means of boosting your home budget. Whichever you choose to build, do it right – check the local laws, obtain all the necessary paperwork and make sure you hire reliable contractors so that you know everything is done by the book.

 

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