Investing in rental homes is the smart thing to do, but the upkeep can cost a lot. However, there are some budget-friendly upgrades that can notably improve the state and looks of your rental home. Not only those small improvements can attract more potential tenants, but they also can increase the overall value of the property. If you’re wondering how to upgrade your rental property in Livingston on a budget, review these 5 ideas. It won’t cost you a fortune and it’ll ensure you higher rental rates. Once you decide to renovate, you might need services like moving and storage NJ. Consider this reliable and professional moving company for any future relocation.
1. Enhance the exterior of your asset
The first thing potential renters will see is the outer state of your property. Just one glimpse can decide whether to rent or not. A neglected exterior can reject them, so think about small upgrades. The easiest way to do so is to mow the lawn and trim the bushes. It’ll look neat and clean. Even better, plant some flowers for a more refined look. Before all of that, remove all the clutter from the backyard. Movers Livingston NJ and their capable crew can load out everything you want. Powerwash the driveway, entryway, and balcony, and check if your porch needs a new coat of paint. Don’t forget to clean the gutters. It may sound like a lot of work, but it’s cheap and it pays off in the end. You want your property to look well-maintained and to attract high-quality renters.
2. Refresh your walls with a new coat of paint
Painting walls will give your property an instant fresh look. Although, it can get a bit pricey if you hire professional painters. However, you can roll up your sleeves and do it by yourself. Buy paint in bulk, at the nearest hardware store. This is practical if you ever need to retouch and match the existing color. Tho, you can add one accent wall, still try to pick neutral colors, like shades of light grey or beige. Or you can just repaint critical areas, and leave the rest as it is. Search for moving companies Essex County NJ, if you need a storage unit for your furniture while painting walls. Besides the walls, your baseboards and window frames might need a coat of paint as well. Pay attention to your porch, maybe you could paint the porch fence, too. With this upgrade, your rental property in Livingston will look clean and refreshed.
3. Repair and fix your floors
New floorings can undermine your budget plan, but repairs are much more affordable. If your floors are in relatively good shape, simple carpet cleaning or buffing service will be enough. However, if you need to replace or reinstall certain areas, choose wisely. Wooden floors are pricey but long-lasting, therefore they are a good long-term investment. Since hardwood floors are considered a luxury amenity, the rental price of your place can get even higher. Vinyl planks are a cheaper solution and with a little skill and effort, you can even do it by yourself. Still, prepare well for this project. A bad installation can cost you even more in the long run. We advise you to hire flooring professionals to install the vinyl planks. It’ll cost you no more than monthly rent, and you’ll have sturdy and waterproof floors, properly installed.
4. Replace kitchen and bathroom fixtures
Renovating the kitchen and bathroom can cost a fortune. Sometimes is necessary, but most of the time small upgrades can do the trick. New fixtures can make a big difference and refresh the looks of your property. Simply change the old fixtures with new, modern pieces and you’ll see the difference. As for the bathroom, make sure there is no plumbing emergency. Neglecting that may cause serious damage later. Outdated hardware can be easily replaced, which will refresh the look of your bathroom in no time. You can find budget-friendly options in any hardware store.
- Get new stainless steel or ceramic sink, and a modern faucet.
- Also, replace the old worn backsplash, with the new, trendy one. Pick the durable materials and neutral colors that match the rest of your kitchen.
- Think about new cabinet doors. A cheaper solution is to paint them and replace the hinges and handles.
- Change the toilet seats with new but affordable ones.
- Add a large mirror and some extra shelves.
- Renew lighting in your kitchen and in the bathroom as well.
5. Update worn-out appliances
New appliances could seal the deal for some renters. With freshly painted walls, renovated floors, and new appliances, your Livingston property will look as good as new. This could notably raise the price of the rent, and attract high-quality renters, too. However, if this is above your budget range, you can buy one-by-one appliances between the tenants. Try to find items on clearance due to minor transport damages or items on sale. You could even get used devices if in hurry, but this can be very risky. We strongly advise you to think twice about this step. If you need help with loading appliances browse the services and moving costs NJ before you hire the company.
Improvements of your rental asset you can afford
With these minor alterations, you could notably increase the overall value of your rental asset. So don’t hesitate to invest in small changes, it will pay off in the long run. Some of the upgrades you can do by yourself, like pressure washing and paint works around the place. Still, we advise you to hire professionals for floorings, plumbing, or tile replacement. You don’t have to do it all at once. Change a thing or two in a year, and soon you’ll have a fully renewed rental unit. So, don’t wait long, upgrade the rental property in Livingston as soon as possible.