In order to make a profit from investment property, you want to keep your repair bills low and your rent high. You shouldn’t let the need to save money stop you from enhancing your property though. If you make the right improvements in the right places, you can increase your rent amounts and enhance your property value as a whole. Here are the top five exterior renovations for investment properties in Michigan.
Power Wash The Exterior
Everything from the driveway to the siding on a home can be power washed. This will get rid of surface stains and make the entire building look like new. Power washing is quick, easy and affordable, and it will show potential renters that you take care of your property. This will get it rented faster, and you may be able to charge more money for rent each month.
Paint The Trim
You don’t have to paint your entire house to give it a facelift. You could repaint the trim and achieve the same effect. This is especially true if the trim paint has faded from sun exposure. Put a fresh coat of white paint on top or any color that corresponds to the exterior. Be careful when painting trim near the roofline, and make sure you have someone with you while working on a ladder. Also be sure that you purchase paint for exterior use to prevent chipping and peeling in the future.
Repair The Bricks And Mortar
Brick siding is great for investment properties because it is durable, beautiful and long-lasting. If your bricks look old and worn though, they could scare off potential renters. Brickworks Property Restoration offers seamless brick repairs for homes and businesses in Michigan. We will color-match new brick and mortar to what you have on your home, and all your renters will see is a flawless exterior. This will also make the home more energy efficient and less susceptible to damage later on, ultimately saving you money in future repairs.
Revitalize The Concrete
There are several ways to enhance concrete elements on your property, like a brick porch or driveway. You could install a new layer of concrete on top of what’s already there, or you could get your concrete stained. If the concrete slabs have cracked during settling, you may need to have them repaired or replaced. Something as simple as a crack in the driveway tells possible renters that the property is not fully cared for. It may make them question the integrity of the rest of the home.
Keep Landscaping Simple
Landscaping can accentuate a home’s architectural elements, but it could also limit your pool of potential renters. Most people do not want to deal with high-maintenance landscaping unless they are purchasing a property. Focus on simple, clean-lined plants that are easy to care for and stay in bloom all year long. No matter when your new renters move in, your investment property will be ready to show.