Property Improvement Tips Promising Tangible Returns
Whether you own a mansion that was built decades ago or a recently built multifamily apartment, the only thing that is constant is change. Besides, even we can't spend all our life gazing at the same old walls, bathroom fittings and kitchen cabinets, and that’s when we begin to think on the lines of renovation. Renovating a property, however, becomes a challenging task if you plan to rent it, as there is no definitive way to predict the needs and expectations of prospective tenants. Though, hiring a multifamily housing contractor is a safe solution to ensure your investment in channeled in the right areas, this post suggests some of the possible transformations for property owners and managers to optimize the returns from their assets.
Giving Your Multifamily Property a Facelift
Even the most trendy wall colors, floorings and other elements of a property tend to lose their sheen after a while. To rollback time and optimize the value of your property as well as its returns, here are a few timeless renovation considerations.
Hardwood Flooring
Opting for hardwood flooring is an effective solution to enhance the appeal and value of your property. Known for their rustic yet elegant appeal, hardwood floorings are quite ease-to-clean, as they do not allow too much room for dirt and debris to accumulate, if fabricated with finesse. In addition, wooden floorings offer exceptional durability, which makes them worth every cent of their cost. All in all, hardwood flooring is the way to go for any multifamily property owner looking for a failsafe investment to enhance the value of their estate assets.
White Interiors
A simple yet classy solution to give a facelift to your property is redoing its interiors in pure white. The color is timeless, soothing, and helps create a positive aura – gleaming white interiors dazzle us all and are sure to have the same effect on prospective tenants. In addition, white walls make the interiors of a property seem more spacious, which makes the color ideal for properties with small rooms and living areas. It is, however, worth mentioning that if you opt for the color white, make sure your multi family housing contractor uses washable paints.
Renewable Energy Systems
Tapping into renewable power resources is another option to consider, when planning to renovate a multifamily property. Harnessing solar, wind and thermal energies entail numerous advantages such as lower electricity bill, reduced dependence on fossil fuels and a drive to have a cleaner environment. In addition, the Energy Improvement & Extension Act authorizes a federal tax credit of 30 percent for residential property owners harnessing solar, wind and geothermal systems, available until Dec 31, 2016.
Property Entrance
They say, “First impression is the last impression”, and when we talk about the curb appeal of a property; the first thing that comes to the mind is its front door or entrance. One of the safest approaches is to paint the door in a vivid color that may not be too bright, but should be bold enough to be spotted from the street. If finances are on the low, you may minimize the cost of landscaping by brewing natural foliage using earth pots. You may also consider recycled landscaping materials to lower the cost as well as the carbon footprints of your property.
A Few Last Words
Trends come and go, but style is eternal. Same is the saga with real estate assets, with multifamily properties being no exception. In order to yield optimum returns from a multifamily property, it is essential to ensure it has all that it takes to appease today’s much discerning audiences. Contrary to popular notion, however, property owners do not have to heavily invest in extreme makeovers, as subtle changes can also make a big difference. Should you wish to learn more about the cost-effective renovation options available for multifamily properties, feel free to contact our experts for a no-obligation free consultation.
Whether you own a mansion that was built decades ago or a recently built multifamily apartment, the only thing that is constant is change. Besides, even we can't spend all our life gazing at the same old walls, bathroom fittings and kitchen cabinets, and that’s when we begin to think on the lines of renovation. Renovating a property, however, becomes a challenging task if you plan to rent it, as there is no definitive way to predict the needs and expectations of prospective tenants. Though, hiring a multifamily housing contractor is a safe solution to ensure your investment in channeled in the right areas, this post suggests some of the possible transformations for property owners and managers to optimize the returns from their assets.
Giving Your Multifamily Property a Facelift
Even the most trendy wall colors, floorings and other elements of a property tend to lose their sheen after a while. To rollback time and optimize the value of your property as well as its returns, here are a few timeless renovation considerations.
Hardwood Flooring
Opting for hardwood flooring is an effective solution to enhance the appeal and value of your property. Known for their rustic yet elegant appeal, hardwood floorings are quite ease-to-clean, as they do not allow too much room for dirt and debris to accumulate, if fabricated with finesse. In addition, wooden floorings offer exceptional durability, which makes them worth every cent of their cost. All in all, hardwood flooring is the way to go for any multifamily property owner looking for a failsafe investment to enhance the value of their estate assets.
White Interiors
A simple yet classy solution to give a facelift to your property is redoing its interiors in pure white. The color is timeless, soothing, and helps create a positive aura – gleaming white interiors dazzle us all and are sure to have the same effect on prospective tenants. In addition, white walls make the interiors of a property seem more spacious, which makes the color ideal for properties with small rooms and living areas. It is, however, worth mentioning that if you opt for the color white, make sure your multi family housing contractor uses washable paints.
Renewable Energy Systems
Tapping into renewable power resources is another option to consider, when planning to renovate a multifamily property. Harnessing solar, wind and thermal energies entail numerous advantages such as lower electricity bill, reduced dependence on fossil fuels and a drive to have a cleaner environment. In addition, the Energy Improvement & Extension Act authorizes a federal tax credit of 30 percent for residential property owners harnessing solar, wind and geothermal systems, available until Dec 31, 2016.
Property Entrance
They say, “First impression is the last impression”, and when we talk about the curb appeal of a property; the first thing that comes to the mind is its front door or entrance. One of the safest approaches is to paint the door in a vivid color that may not be too bright, but should be bold enough to be spotted from the street. If finances are on the low, you may minimize the cost of landscaping by brewing natural foliage using earth pots. You may also consider recycled landscaping materials to lower the cost as well as the carbon footprints of your property.
A Few Last Words
Trends come and go, but style is eternal. Same is the saga with real estate assets, with multifamily properties being no exception. In order to yield optimum returns from a multifamily property, it is essential to ensure it has all that it takes to appease today’s much discerning audiences. Contrary to popular notion, however, property owners do not have to heavily invest in extreme makeovers, as subtle changes can also make a big difference. Should you wish to learn more about the cost-effective renovation options available for multifamily properties, feel free to contact our experts for a no-obligation free consultation.