If you plan to buy a house in Irvine to use as a rental property, renovations can make a huge difference to the amount of rent you can reasonably charge. The right type of renovations can increase the overall value of your home and help you stand out in a competitive rental market. The following renovations can make your property more appealing to potential tenants without breaking the bank or requiring excessive time and effort.
1. Modernize the Kitchen
An up-to-date kitchen filled with modern conveniences is one of the best ways to increase interest and find a dedicated renter. You do not have to make big renovations or buy expensive appliances to make a difference. Just adding an updated paint color and stylish hardware on your cabinets can make a significant difference, and larger renovations like new cabinets or countertops appeal to renters even more.
2. Switch Up the Layout
A rental property is often used differently than a home occupied by its owner, so it may be helpful to update the layout if possible. Creating a few smaller bedrooms out of large bedrooms, studies, or game rooms may make the house more appealing to roommates who want to split a rental property. Younger renters tend to prefer a large, open living room area instead of a small, enclosed kitchen and dining room.
3. Make the Bathroom Look Luxurious
Interested tenants will likely be attracted to a rental property they can imagine relaxing in at the end of a long day. Having an updated bathroom with spa-like features could be a big draw. Installing a rain showerhead and softer lighting can make a huge difference in the bathroom. You can easily reface cabinets and tubs to give them a fresh look without paying for a complete replacement. Stylish faucets and other fixtures can make the room look even more appealing to renters.
4. Add Built-In Storage
Most renters want a lot of storage. Built-in shelving and cabinetry helps renters feel like they would be able to live an organized and tidy lifestyle in your property. This type of renovation can be especially attractive if it is a smaller rental property where potential renters will be concerned about storage.
5. Get Rid of Carpet
Removing old carpet and installing updated hardwood or tile flooring is one of the easiest ways to make a property look modern. With the new laminate flooring options that look just like wood, you can easily do this without a huge cost. Renters are particularly attracted to this type of flooring because they know they do not have to worry about losing their deposit to carpet stains. It can also save you money between tenants because you do not have to steam clean hardwood, laminate, or tile to get rid of odors.
From El Camino Real to Woodbridge, Irvine homes for sale are readily available. Whether you plan to occupy the home you buy or rent it out, it’s a good idea to connect with a trusted local agent who can help you find just what you’re looking for. Get in touch with OC Residential today at 714-454-6304.