Top Ways to Maximize ROI on a Kitchen and Bath Renovation
When planning any renovations, you should know which areas of your property you want to work on. Specifically, if you have an investment property, you want a renovation that will increase the value of your property and maximizes your ROI. So which home improvement project would you want to invest in? The most popular renovations…
When planning any renovations, you should know which areas of your property you want to work on. Specifically, if you have an investment property, you want a renovation that will increase the value of your property and maximizes your ROI. So which home improvement project would you want to invest in? The most popular renovations that immediately increase your property’s value is doing a kitchen and bath renovation.
The kitchen is said to be the heart of your home. When you show around potential tenants around your property, you can notice that they linger more in the kitchen. A complete and quality kitchen remodeling gives the highest ROI and you want to take advantage of that.
Before planning a grand kitchen renovation, think about what type of kitchen you would like. You want a modern kitchen that fits in your house. You should match it to the architectural design of the entirety of your property. Some make mistakes by making their kitchens as grand as a kitchen in a fine dining restaurant with fancy stoves and countertops. While others make their kitchen as big as their living room. Property owners should plan a design that can last long. You should also be aware of what is on-trend. Since designs are fast evolving, you should pick a smart, timeless design.
It would be an inconvenience if your kitchen is far from your entry point when carrying your groceries. The same when you have to run around the kitchen when getting to the refrigerator, sink, and stove when you are cooking. Your new kitchen should be functional in a way that it would be easy for you to go to your kitchen and go around it. Get your refrigerator, sink and stove in a triangle formation to make it more convenient for you. Building new storage spaces add functionality too.
Brighten up your kitchen by upgrading your lighting fixtures. It will be hard to work in a kitchen with poor lighting. Maximize your kitchen windows and allow more natural light in. You may also consult a licensed electrician on how to strategically place lightings around your kitchen.
Appliances and Kitchen Cabinets
When you update your kitchen, the first thing that comes to mind is your cabinets. You don’t have to get a new cabinet, especially if it is still intact. You can get it painted and update the cabinet’s hardware instead. It is the easiest and cheapest way you can upgrade your cabinets.
Older appliances consume more energy so it is better to pick new appliances when doing your kitchen renovation. Energy-efficient appliances are good for the environment too. Investing in new appliances can save you the worry of any appliances that need a repair when a tenant moves in. Potential tenants get a good impression as well when they see a newly renovated kitchen with new appliances and updated kitchen cabinets.
Updating your bathroom is also a home improvement project that adds value to your investment property. Your bathroom may just be a small room in your house but it is a place where most people seek relaxation and alone time. A cozy and lovely bathroom attracts potential tenants. Do an assessment first if you need to do cosmetic changes only or to completely redo your bathroom. Also, if your investment property is quite big, you can put your investment in adding a second bath instead.
Updating the Vanity Area
Some may say updating the vanity area is expensive. This update may include countertops, faucets, and sink. However, a bathroom countertop is relatively small compared to a kitchen one, so it will not hurt your budget.
Use what you have
If you already have a countertop and you can still refurbish it, do it instead of buying a new one. You can go to a vintage store and look for second-hand faucets, sink, and base that can match your countertop.
Search for alternatives
If you want a natural-wooden vanity but it might break your bank, choose wooden accents instead to complete the look you are looking for. Get wooden accessories like baskets, vases or trays. This gives the look you want for a lesser price.
Replacing fixtures is the easiest and quickest way to update your bathroom. Install good lighting fixtures, coordinate your bathroom accessories like the sink faucets, towel racks and drawer pulls. These are just small items and will not chunk your investing but they will give your bathroom a refreshing glow.
Giving your bathroom a coat of new paint is cheaper than getting tiles or stones all over the room. It is cheap yet effective in giving your bathroom a new look. Choose to invest in high-quality paint as the bathroom accumulates moisture easily. Humidity and temperature change a lot so mold and mildew can develop fast.
The bathroom maybe just a small area in the house but this is where you may spend some time of your day to relax. Keeping a small room functional can be tough, but with proper planning and design, it is doable. Have enough storage spaces. Get a basket where linens can be kept, a drawer organizer to put some personal products like hair products and makeup. Storage space under the sink can be used for keeping cleaning products.
Replace the Tub
It’s a lot to think about. But most homeowners nowadays invest in having a walk-in shower bathroom instead of a bathtub. Since they can be neglected and may not be used regularly, a bathtub can just eat up space in your bathroom. Replacing it with a walk-in shower is more efficient. It leaves you with a lot of space and can help you conserve water too.
Budgeting and planning go hand in hand for a successful renovation. Doing a kitchen and bath renovation is a sure way to increase your property’s value and how much you can get it rented. Have a professional team by your side to help you achieve your home improvement project.
Green Ocean Property Management will help you from planning to execution of your kitchen and bath renovation. We will give you the best ideas to increase your home’s value through renovations and repairs. Our property managers offer you the best advice and will give you feedback and suggestions on how you can maximize your renovation to help increase your property’s value, maintenance, and insurance. We take consideration of your budget and assess the condition of your property before doing any renovation. We also have expert and licensed service providers who will do your property’s repairs and renovations.
Contact us! Our team at Green Ocean Property Management will gladly answer your calls and emails. You can reach us at email@example.com or call 617-487-4868. You may also visit our office at 268 Centre St Newton MA 02458.
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