As a developer specializing in value-added properties, Andrew Shader has five investment tips you can use to boost the value of rental homes you own.
Increasing the value of your properties should always always be the goal. If you’re interested in raising your rent or ensuring greater returns when you’re ready to sell, this in-depth guide is perfect for you.
1. It Starts With the Kitchen
The kitchen acts as the safe haven of every home and is where families come together on a daily basis. Unless your property is completely falling apart, Andrew Shader recommends investing in your kitchen first.
Standard kitchen improvements include:
● Putting down tile and stone
● Installing a high-quality under-mount sink
● Installing stainless steel appliances
Although these renovations are excellent, it’s much more essential to create an efficient workspace and layout. Labeled as “the triangle,” this is where your sink, cooking area, and refrigerator meet to create a convenient flow while working.
It’s essential to invest in a workspace that provides an effortless flow when moving from one appliance to another.
2. Remove Wood Panelling and Popcorn Ceilings
Wood paneling is an outdated look that should be avoided in modern homes when trying to increase their property value.
Andrew Shader recommends ripping paneling out and putting up drywall. If your property’s aesthetic requires wood paneling to achieve your desired look, you should use real wood such as knotty pine.
As for popcorn ceilings, you should avoid them in all scenarios by putting drywall directly over them.
3. First Impressions Are Key — Front Yard Makeover
Renovating your front yard is inexpensive and drastically improves the overall look and feel of the property.
A few simple front yard investments include:
● Adding color to your planters
● Putting a beautiful paver walkway
● Investing in an edger
These are simple steps that can multiply curb appeal.
4. Bathroom Boosts
A few simple changes to your bathroom can give your property an immense boost in value.
Here are some tips to transform even the dullest bathrooms into fresh and lively spaces:
● Installing a new mirror
● Installing new light fixtures
● Add crown molding
● Regrout the shower
● Repaint the walls with lovely architectural details
Nobody loves a dingy bathroom.
5. Basement and Attic Renovation
If your property has a lackluster basement or big attic, Andrew Shader recommends finishing them out. This tactic can instantly increase the amount of square footage in your home. However, you’ll need to pull the proper permit for your state and follow all of the codes to officially add the renovated space to your property’s square footage.
About Andrew Shader
Andrew Shader is a real estate investor, developer, and entrepreneur based out of Fort Lauderdale. Shader started as an entrepreneur in the insurance industry before discovering his real estate passion: finding scalability in any vertical. Andrew’s real estate strategy specializes in finding value-added properties and increasing their property value by upwards of 60% — without needing to rely on future appreciation.
