6 Inexpensive Ways to Increase the Rental Value of Your Home
Updated: Jun 23, 2021
I think you'll agree with me when I say that renting out a home without making any improvements can hurt your chances of attracting the right tenants. Fortunately, you don’t have to spend a fortune renovating your home to maximizing its rental value.
There are plenty of inexpensive improvements you can perform today to get bigger returns. Use these value-boosting upgrades to spruce up your property, decrease the time it takes to woe the ideal tenant and grow your rental income.
Give Your Rooms a Clean, Fresh Look
Nothing transforms a dull space better than a fresh coat of paint. It makes the house look new and more appealing to a wide range of tenants. When choosing a color, go for neutral hues as they appeal to more people. Semi-gloss paint will make the living space seem brighter, and an eggshell finish can help mask small imperfections.
Give Kitchen Cabinets a Facelift
The kitchen is where most potential tenants will spend a lot of time inspecting. If your cooking area looks tired, you don't have to give your kitchen cabinets a complete overhaul. Simply clean them up and apply a lively coat of paint. Don’t forget to install stylish handles for your cabinet doors.
Deep Clean Your Home
Over time, the exterior of your home accumulates dust, grime, and even mold, making your place less welcoming. Power wash the siding, deck, sidewalk, and driveway to increase the overall curb appeal. Don't stop there. Make the interior of your home shine too. Scrub your floors, windows, doors, walls, ceiling, curtains, and all nooks and crannies.
Spruce Up the Bathroom
Bathrooms are another place that tenants scrutinize a lot. Just a few innovative changes, and most people will be more than willing to meet your rental price. Get a new toilet seat, buy a trendy shower curtain, mirror the wall, replace the old faucet, and install a ceramic soap dish.
Groom Your garden
When you want your home to look its best, don't ignore landscaping. Overgrown and unkempt gardens are a major turn-off for most tenants. A properly maintained lawn signals to tenants that you take good care of your property. Remove weeds and dead plants, trim shrubs, prune trees, and add some colorful potted plants near the entrance. If you have to slash the cost of landscaping, get drought-tolerant plants.
Replace Old Fixtures and Fittings
Swapping out outdated fixtures is a cheap way to transform a room. Start with the lighting. Old bulbs can dull a room, so get LED ones that will instantly lighten the space. If you have clanky fans or doorknobs, replace them. If the tapware is old, get a timeless design. When selecting new fittings, make sure they go with your home's architectural style. You'll be surprised what big an impact these small changes will have.