Considering that over one-third of all home remodeling jobs involve the entire home, it is important for a homeowner to consider the return on investment that will come with home improvements. Of course, if you’re a homeowner and a landlord, it’s even more important to ensure that your investment property is actually living up to its name.
If you’re looking for modest remodeling jobs that offer a positive return on investment, here are some of the best practices and techniques to follow in order to reap the biggest payout.
The Kitchen
The kitchen is often seen as the most important room in a home. Perhaps that’s why most homeowners choose to spend the majority of their remodeling budget on kitchen upgrades. Here are a few easy ways to make simple upgrades to your kitchen:
- Investing in durable materials, such a laminate, for your cabinets. Most laminate is made of at least four materials including resin, the wear layer, the decorative layer, and kraft paper. If you’re looking for cabinetry that looks like wood but lasts much longer, this material stands the test of time.
- Installing a new faucet and sink can go a long way to giving the entire room a cleaner feel. There are plenty of modern options for just about any style.
- Incorporating new lighting can add ambiance in no time, especially if natural light is lacking in your kitchen area. Consider upgrading your lighting fixtures if you’re looking for a little project that makes a big difference.
The Bathroom
The bathroom is probably the most used room in the home, so any money spent in bathroom remodeling is worth the hard work. While it’s not the most exciting room in a home, it’s one of the most important from a practical perspective. Interesting bathroom remodeling ideas can include:
- Updated tile and grout will be like giving a bathroom a facelift. It’s all too easy for grout to get dirty or stained in this small, high-moisture room.
- Putting in matching sink and tub faucets.
- Painting the ceiling to get rid of any water stains or signs of water damage.
- If there’s a closet in the bathroom, consider removing the walls to open up the space and make the bathroom bigger.
The Flooring
The floors of a home are walked on every day, but barely anyone notices them unless there is a huge problem. Capture potential tenants’ attention by taking the following advice:
- Stay away from carpeting. Not only is it harder to clean, but going with a hardwood option keeps allergens outside of the home.
- Since they are often used only in kitchens, consider using ceramic tiles for either the bedrooms or living rooms, too. They give off a unique vibe and a fresh, modern look.
- If you opt for hardwoods, make sure to add a few smaller throw rugs to add dimension and color. While most landlords expect tenants to provide these types of rugs, they can add warmth to an empty room that would otherwise be lacking.
Of course, the remodeling projects you choose will depend greatly on the condition of your investment property. Unlike traditional homeowners, landlords don’t have the luxury of choosing renovations based purely on your own preferences. Before beginning any new work, think carefully about how it will help you generate income from your investment home.
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