Are renovations worth it? Not all renovations are worth, while some help scale up the resale potential of a home by plummeting expenses, others fail to do so, in other words, probably it don't justify the money you put in. If you are looking to add a significant value to the price of your multifamily rehab property in West vancouver and wondering which improvements are worth it, then this article is for you.
Upgrading your multifamily rehab property in West vancouver is a surefire way to have an excellent ROI, for that you need to categorize a list of “must-have” and “nice-to-haves” and you should start with the must-have. Even though “nice-to-haves” revamp is what propels the value of your property, the “must-haves” are upgrades that will help to sell the property. Now, coming to the point of two valuable renovations to add to your multifamily rehab property, kitchens and bathrooms are on the top list. Kitchen and bathrooms: In order to get a great return on your investment, consider renovating the kitchens and bathrooms. As a matter of fact, a newly remodeled kitchen or bathroom will always return more in a hot rental market. This is because we tend to spend a significant time in these two rooms and most importantly, in real estate standpoint, these are the areas in a home where you can figure out if money has been well spent or not. While, other rooms like living room, guest room, office, can be disguised by well-chosen furniture and a fresh coat of paint, this is not the case when it comes to kitchen and bathroom.
The thought process of redesigning your multifamily rehab property in West vancouver units’ kitchens might perplex you, do not fret, you are not alone. The main focus should be on functionality and simplicity. Seeing that more and more home buyers are opting for open floor plans, when it comes to this, do not think twice. Some of the safe bets include neutral color schemes; stone counter tops, stainless steel appliances, and wood floors, having said that, all you have to make sure is that, the style of your new kitchen should seamlessly go well with the rest of the house and it should not confuse the prospective buyer.
Curb appeal is the second most important thing that one should concentrate on, and this is what sets the difference between a potential homebuyer driving past your property against knocking on your door. By putting money into your property’s exterior, you are said to increase the value of it by up to 20 percent and sometimes more. Never underestimate the power of a curb appeal, if it needs a change, do not hesitate to change it. Some of them include:
Fix up the paint chipping, care for your dying plants, look if the deck or siding is dirty and clean it up, check for rain gutters, weeds growing and fix it up. Look out for these things and fix it up such that you will have more people knocking on your door for more than expected value.