Michelle and Patrick loved the idea of having an investment property for their future and were curious as to how they could increase capital on their outlay.
Here are the top ways to add value to your rental investment property
1 Paint, nothing refreshes better than a lick of paint and it’s relatively inexpensive. A tin of paint can cost as much as a bunch of flowers.
2 Add Air-conditioning
3 Storage in bedrooms
4 Dishwashers are loved by renters & busy working people
5 Skylights – create more light and a sense of space
6 Clean or re-do carpets and sand floorboards
7 Add updated carpets and blinds
8 A parking space adds extra dollars to rent
9 Putting in an Internal or European laundry will be hugely attractive.
With these simple additions and changes you can add more bang to your investment buck.
Traps and Tips For Buying in a Coastal Area
Michelle and Patrick moved back to the coast to be closer to family and begin a new & relaxing coastal lifestyle.
If a sea change is calling and you’re thinking of swapping the city for the surf, then you might want to consider these tips and traps for buying a property in a coastal area.
1 Look for a home next to a beach that is accessible and swimmable.
2 A Village atmosphere adds charm and will entice other buyers should you wish to sell later down the track.
3 A sleepy old beach town might be nice for a while but does it have enough infrastructure in place such as shops, transport links and schools? Will your bolt hole become a bore if there isn’t a neighbour or a store for miles?
4 It’s a great idea to look at properties in the afternoon to see what impact the sea breeze has on the living conditions.
5 If the property is picking up Sea spray this increases the likelihood of corrosion and requires regular washing down of exposed windows and frames to reduce the build up and deterioration.
Michelle and Patrick ultimately chose their dream property for it’s location and easy access to the beach & their family.
Make sure you’re aware of the property maintenance and logistics involved around your coastal home so it’s a successful and enterprising decision.
