Is it ever too late to increase property values? Should people invest in properties to increase their value? A lot of property owners and managers stress over renovations and choose to opt-out of apartment remodeling projects. While looking to remodel property units, apartment remodeling with return on investment in mind is a sensible choice whether anyone plans to rent or sell their property in the next 8 months or a few years. A home is a significant financial investment, and any changes made to it can not only enhance the current tenant or owner’s comfort level but also add value that may be recouped when you put it up for sale.
When it’s time to renovate apartment units, you are looking to get the best rate. In order to do so, it is recommended to give apartment units an uplift depending on the final state. This helps in increasing property values, which in turn will get better rates in the market. Let’s look at a few apartment remodeling ideas that can help increase the value of any property without breaking banks:
Remodeling Apartments Tips to Increase Property Values
1. Have a Goal in Mind
Whenever you are putting an apartment up for sale or rent, or are thinking of doing so in the future, always carry out an assessment. Do a thorough check of your apartment. Look at all the key details like walls, drainage, electrical, thermostats, pipes, and more. Once you have a list of repairs and maintenance that need to be carried out, tackle them on a priority basis, for example, it is more important to fix the broken drains and electrical units than implement aesthetic changes!
2. Don’t Break Your Bank Account
While you might get excited by the prospect of remodeling apartment units for sale, you need to be realistic. Assess finances and then tackle projects and remodels as and when needed. Don’t break walls or redo entire kitchens that add to your expenses, rather hire a professional that can guide you through the process and work within a budget.
3. Create More Open Space
A key factor that most potential renters look for in new apartments in space. If you can smartly create more open space which makes the apartment seem bigger, it will automatically increase the property value. Apartments are generally tricky to remodel when it comes to adding space, but there is a solution to every problem! People can always knock down a wall and draw the kitchen into the living space that will help create more seating space. Painting the walls a lighter color also creates the illusion of space.
4. Aesthetic Changes
If people don’t want to make drastic and major changes to the apartment units, then look at making more aesthetic changes. Paint the walls of the living room and bedrooms with lighter shades, add more shelves and cabinets which makes room for storage. Change up the lights and give that bathroom a good old scrub or change the tiles, if there is time and patience to do so. Try to make realistic changes that are not time-consuming and a financial burden.
5. Storage and Windows Remodeling Ideas
Make a dramatic change to the apartment by adding more storage space and windows. Most apartments lack space which in turn creates storage problems. Create storage by adding closet space or by adding a cabinet or counter space. Another major selling point for apartments is the windows. Replace the smaller windows, if your apartment allows for larger windows, it will let more light In and create an illusion of space.
6. Hire the Best Contractor for the Job
If you decide to hire a contractor or a professional, be sure you do so wisely. Examine their portfolios, reviews, and references at all times. You will come across numerous contractors in big cities like San Diego, so take your time to choose the ones who best meet your needs and weed out the ones who aren’t. Choose the best option for your preferences and budget.
7. Apartment Bathroom Remodel Ideas
Many people think of replacing toilets, baths, cabinets, and shower fixtures when they think about redesigning a bathroom. Tailor the design of the bathroom with a custom-designed bathroom makeover to suit potential buyer’s tastes and personalities. Here are a few popular apartment bathrooms remodel ideas:
- Use luxury stone floors and worktops, such as marble or travertine
- Create tiled shower areas
- Use heated floors
- Upgrade light fixtures
- Add new-windows
- Use minimal colors
These are just a few ways were to remodel your apartment units before putting it up for sale. It’s for sale at the end of the day. Trust the process, plan carefully and sell the apartment units at the best rate possible!
Why Should You Choose McMillin Contracting Services
Are you preparing to undertake a San Diego apartment remodeling project and need some assistance? If you are a management company or a property owner looking to renovate apartments in San Diego for a multifamily apartment remodel project, you can contact McMillin Contracting Services.
McMillin Contracting Services is a San Diego-based general contracting company dedicated to assisting and supporting the property management industry.