Building A Property Portfolio On A Budget

Property Management Software

There are very few industries that are always in high demand. One such example of this is the real estate/property market. When the right property is chosen, it can be extremely lucrative. However, more often than not, it will also require a degree of renovation as well.

Not all renovations need to be costly. By making the right choices, it can add a large sum of money to the overall value of the property.

Bathroom Remodelling

When people hear the suggestion of the bathroom being remodelled, they immediately think that it is going to be a costly upgrade. This isn’t necessarily the case.

A great way to make the bathroom look better can be as simple as replacing the taps in them. They are subjected to a large amount of wear and tear, and as such they are usually the first part of the bathroom to show its age. Not only is it relatively inexpensive to purchase new taps, but they are also fairly simply to replace as well.

Another inexpensive upgrade is to install a new shower. These can be a bit more complex to install, so it may require the assistance of an electrician. However, purchasing a new shower can not only make the bathroom more visually appealing, but it can also be more energy efficient compared to older models. There are various price points for a new shower, and they all come with a variety of different features that will impact their overall price.

A Fresh Coat of Paint

One area that many overlook is the fact that a fresh coat of paint can really make a room, or even an entire house, feel brand new. Regardless if it’s the bathroom, kitchen or bedrooms, painting the walls will really add a level of depth to the property.

The good news is that paint prices have came down dramatically, as have the necessary tools required to get a great finish. It is really easy to get a high quality finish, with there being many tutorials on YouTube. The benefit of this is that a large sum of money can be saved since a professional won’t need to come in and do this decorating.

Upgrading The Windows

The sad fact is that as a property ages, one of the first major parts of the house that needs to be replaced is the windows. This can be a large outlay. However, there are various ways to reduce the overall cost of this.

The first is to check if any government grants are available to replace the windows. Whilst the grant will not cover the whole cost of them, it can pay for a considerable part of the total fee. The ultimate aim of the government grant is to get as many homes upgraded as possible so that that less heat is escaping from the windows, therefore helping the government meet their green quota.

Another aspect to consider is that fact that there are various window companies to choose from. This means that they will need to stay competitive in order to get a sale. In this regard, when choosing a company to install new windows, it is crucial that numerous quotes are obtained to ensure that the best possible deal is made.

When the new windows are installed a certificate will be issued by the vendor. This can then be produced when the house is sold and will be on the home report that the windows are of the highest efficiency. Similarly, if the house is to be rented out, tenants will lean towards a property that has high efficiency windows since it can help to save them on heating costs.

Sprucing Up The Garden

If the property has a garden, look at it from the position of a buyer, or a renter. What state of repair is the garden in?

A great upgrade that can be made to the garden is the removal of natural grass and have it replaced with artificial grass instead. Depending on the size of the garden this can be a costly task. However, a great workaround for this is to pick the time of year when the work will be carried out.

If the work is carried out in the winter months, the work will generally be cheaper since there is less demand for landscape gardeners.

In addition to this, look into how much it would be to purchase the artificial grass yourself as opposed to having the landscape gardener provide it. It may be a lower price and it’s something that should be considered. A well presented garden can add significant value to the property, even when done on a budget.

Much like painting the inside of the home can add value onto it, repainting the fencing in the garden can dramatically improve it. The price of fence paint is also at an all time low and it really doesn’t take that long to carry out this work yourself instead of getting a painter in to do it.

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