The competition is real in the real estate world. Trying to sell your real estate investment? Curious to know what the best improvements for home valuation are?
No matter your situation, changes in a real estate investment are part of the job. Here, we give you the 8 best improvements for home valuation no matter how much cash you’re working with.
$100 Budget for the Best Improvements for Home Valuation
So let’s say you have a set budget of $100 for home fixer improvements. No problem! Here are three subtle techniques for the best improvements for home valuation with a Benjamin Franklin.
An Hour is all it Takes
≈ $100
This step really helps you get started with the best improvements for home valuation. If your present budget is at around $100, you can start by calling in a professional to give you a home value analysis. Most professionals will charge a little under $100 an hour to get the job done to give you their professional advice. Some simple advice like painting the walls another color can help the present value of your investment property.
Hack: Got an artistic eye yourself but need some inspiration? Cut the cost of a designer by spending a few dollars on magazines on interior design. A $15 magazine can give you the motivation you need to get the feng shui vibes going through the rental property.
Go Beyond the Beauty
≈$100-$350
The best improvements for home valuation are not always cosmetic. A termite infestation, an old electrical system, or a deteriorating roof are all things you can’t fix if you don’t know it’s broken. You want to get a home inspection so what starts as a small problem doesn’t become a big one. Combine your home improvement budget along with part of your expenses budget to cover the investment property costs for maintenance.
Trying to Take Care of Some Maintenance Yourself? Learn Here: How to Maintain a Real Estate Investment Property
A professional has the ability to detect the issues you normally wouldn’t be able to see. There are a number of hidden problems a professional inspector can bring to the surface. A tiny water leak can turn into a huge flood the longer you put off repairs. Inexpensive issues can become expensive in a matter of minutes, so the longer you wait, the more expensive those repairs can get.
Get Your Da Vinci On
≈$25-$100
No, we don’t mean you need to be an artistic mastermind and create a number of masterpieces. Just one, significant masterpiece that can be one of the best improvements for home valuation. Simply paint your investment property! Freshly painted walls spell out an increase in property value.
Quick Tip: Neutral colors are the money makers here. These colors appeal to the most number of people, instantly making your real estate investment more desirable.
With paint coming in at around $25 a gallon, you’re left with plenty of cash for paint brushes or rollers. Got all the supplies for the paint job? Then congratulations, you’ve got some extra money left to put towards some of the other best improvements for home valuation.
$200 for the Best Improvements for Home Valuation
Looking into putting an extra $100 into that budget of yours? Here’s what you can do with $200!
Go Green
One of the most simple ways to go green with your buck is to plant a tree! Some low maintenance landscaping goes a long way when you’re looking for the best improvements for home valuation. Pick out some plants that don’t need much care but still give your investment property some class.
Not only will you be doing the world a favor, but you will also help your rental property too. A properly planted tree can cut your cooling cost a whole 40%! Not to mention the increase in appeal a nice tree can give your income generating property. Go green!
Go Even Greener, Explore More: How Will Green Building Affect the Real Estate Investment Business?
A Breath of Fresh Air
The air quality in your rental property is not entirely dictated by the environment outside its doors. Old carpets are home to hiding contaminants and allergens. Test your indoor air quality to see if you need a professional to replace your flooring. If the carpets do indeed need to be replaced, choose some environmentally friendly flooring that doesn’t hold odors.
Quick Tip: Hard surface floors like tile or laminate are ideal to keep your home updated, fresh, and clean. Nice flooring comes with an increase in real estate property value!
Now although the flooring itself can get a little pricey depending on what type you choose and how big the area is, the returns are attractive. The average investment for quality flooring is between $600 to $900. However, most investment real estate brokers estimate an average investment return value of $2000. Pretty good investment if you ask us.
Up to the $400 Mark for the Best Improvements for Home Valuation
A higher budget means a new home valuation method to increase that property value appreciation. Here is what you can do with 4 crisp one-hundred dollar bills!
Small Bathroom = Big Return on Investment
You don’t need to plan a full remodel to get real estate return. Simple updates to your bathroom will always be considered one of the best improvements for home valuation. Most real estate investors and home appraisers can agree that bathroom updates are ideal for home valuation.
Some simple renovations you can do include replacing the frosted glass with the clear type. Remove any rust stains, replace outdated doorknobs, renew old faucets, and install a ‘low-flush’ toilet.
All simple ways to update a bathroom with a smaller budget of around $400. The budget can take you a long way so long as you invest your cash in the right improvements.
Quick Tip: Replacing old wallpaper with a faux or even textured finish is perfect for giving your bathroom a modern look. Replace the old lighting with something new. Two of the best improvements for home valuation without putting a huge dent in your wallet.
$500-$750 for the Best Improvements for Home Valuation
Let’s get a little higher in price when it comes to your budget for rental property improvements.
Big Bathrooms = Even Bigger Real Estate Returns
We can’t stress enough about how much bathrooms bump up your investment property value. Although smaller improvements are great, making some bigger changes will give you even bigger real estate returns. The bathroom is considered one of the two rooms that benefit the most with small renovations. We’ll talk more about the other in a little.
Quick Tip: Some cost-effective methods to change up your bathroom include replacing an outdated vanity or maintain old plumbing. You’re sure to get a bank for your buck, not to mention the increased appeal for your real estate investment.
The return on real estate investment is one of the most important aspects of real estate. Mashvisor’s investment property calculator is a great way to get an idea of what that return on investment rate looks like for the rental property of your choice. This tool allows you to adjust any expenses and costs to see the real returns. No point in knowing the best improvements for home valuation if your property is not bringing in the cash flow!
Sign up for a free 14-day trial to use Mashvisor’s investment property calculator by clicking here!
Room #2 for the Best Improvements for Home Valuation-the Kitchen
You guessed it! The second best room for renovating for some quality returns is the kitchen. Just like the bathroom, a real estate investment return is coming your way no matter what kind of improvement you make.
Quick Tip: Start your kitchen journey with just one aspect. A stained sink or old-age microwave is easy to replace and even easy on the wallet. Stainless steel replacements are perfect to add big value to the investment property.
How Many Benjamins Will You Put Forth?
No matter the home valuation method used to come out with a real estate property value, these are some of the best improvements for home valuation you could make. With as little as $100, you can make an improvement that can bring in the big bucks and give an increase in property value.
This comes to show that no matter how many $100 dollar bills you have set for your budget, the best improvements for home valuation are within your wallet’s reach. Now go out there and renovate!
Take It to The Next Level: Rental Renovations with the Highest ROI
