How to spruce up your investment property while saving money.
Here are some ways you can add some extra “wow” factor to your property without breaking the bank.
A fresh coat of paint
When your property has had a few different tenants, the walls can start to look knocked around, and the property will show signs of wear and tear. Adding a fresh coat of paint to the walls between tenancies is a great way to tidy up your property while keeping costs to a minimum. Stick with neutral colours that will appeal to most people and don’t forget to keep a record of your paint colours for any touch-ups that might be needed in the coming months and years.
Reduce, reuse, recycle
If you’re quite handy with DIY projects, you might be able to create some renewed things for your investment property without breaking the bank. This might include light fixtures, building materials that can be recycled and other larger items that can be repurposed for the property. Even if you haven’t completed a DIY project before, you can get some great tips and inspiration from local hardware stores and online videos.
Make one big change
Investing in one big improvement to your property and accompanying this with smaller updates is a great way to make an impression without going over budget. You might decide to open up a ceiling through an attic, add some high-quality timber shutters or invest in some French doors. Whatever option you choose, make it something that will transform a highly used space in the home, such as the kitchen or living and dining area.
Keeping your property looking well presented with some low-cost renovations will ensure you attract great tenants. Not only will this help keep your property in good condition for the long term but securing tenants who love living in your place can mean you don’t have to find new tenants for a long time. The investment is worth it, so take your time and make a few small updates that will have a big impact.
If you have any questions, or need clarification on any of the above, please contact Anna Marten, our Head of Property Management, on 9651 1666 or anna@guardianrealty.com.au.
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