Property investors take renovations seriously. Sometimes it’s not worth pursuing a renovation until a tenant moves out. Other renovations are money pits and serve no purpose beyond aesthetics.
Being cautious about renovations makes sense when it’s a tenant-occupied property, but sometimes that hesitation extends to their own homes.
Here are the top 3 renovations property investors hesitate to make even in their own homes, and why each renovation is worth serious consideration.
1. Getting new kitchen cabinets
Property investors with real estate licenses know that kitchen cabinet are usually just a money pit. If there’s nothing wrong with the current cabinets, it rarely makes sense to get new cabinets for a tenant.
This sentiment can spill over into their private home and make them avoid replacing their own kitchen cabinets. However, being a licensed agent means knowing the perils of having inaccessible cabinets when it comes time to sell your home.
You can learn a lot about what makes home values rise just by getting your real estate license. If you’re not licensed, but you’d like to get one, the process is actually easy. In California, for example, you’ll take three 45-hour courses and a final exam for each course. Everything can be completed online, so you can work around your schedule.
Accessible cabinets are the exception
Inaccessible cabinets are usually a deal-breaker for disabled homebuyers. Accessible cabinets above the counter are positioned lower, and the lower cabinets pull out like drawers. This way, all the items in the cabinet come out with the drawer and the person doesn’t have to struggle to reach inside. If any doors swing outward, they’re hinged on the side that makes the most sense given the kitchen layout.
New cabinets won’t necessarily boost a home’s value, but accessible cabinets will raise the value of a home.
2. Bathroom remodels
For tenants, as long as there’s a working shower and/or tub, a working sink, and a working toilet, there’s no reason to remodel a bathroom. Knowing this, some investors won’t remodel their own bathroom unless it becomes a source of frustration.
In a lifetime, the average person spends over 2 years in the bathroom. That’s enough reason to remodel your bathroom.
Out of all the rooms in a house, bathrooms are used frequently and often for long durations. If you want to feel comfortable while you shower, take a bath, or shave, a remodel will help.
Some of the best ways to remodel a bathroom include:
· Adding soft and bright overhead lighting. Lighting makes a huge difference, even when taking a shower.
· Installing a rainfall shower with side streams. You’ll feel like you’re in a 5-star hotel with this type of shower.
· Installing a large tub big enough for stretching out. Standard bathtubs are too small for adults. You need a big tub with jets.
· Painting the walls a refreshing, relaxing color. Color impacts mood, so choose a relaxing color to start your days.
· Installing a bidet. You’ll be super clean and you’ll save money on toilet paper.
· Adding your favorite décor. Bathrooms are fun to decorate, and they’re small so it won’t be expensive.
If you’re not sure about a bathroom to remodel, consider how much more you’ll enjoy your morning routine when you can be surrounded by a little luxury.
3. The driveway
Concrete doesn’t last forever. Over time, it will crack and tree roots will lift it up in some areas. Some property investors are only willing to fix the cracks at the start of each new tenancy. This habit can carry over to their own home.
You can fix concrete cracks, but you’ll spend more time and money in the long run. A better idea is to remodel the driveway and use better, longer-lasting material.
Crushed asphalt is an excellent driveway material that will last for years without needing any maintenance. It’s cheaper and better than gravel, and you won’t even get even tiny potholes for many years. It’s also better at preventing flooding.
To get a crushed asphalt driveway, all you do is order enough loads to match the space you want to fill and rent a road roller. Creating a crushed asphalt driveway is easy. Just spread the material down and roll it into the ground to create a thick layer of around four inches. Or pay someone to do it all for you.
Perform the renovations that make you feel good
When you have the budget for renovations, don’t hesitate to work on areas that make you feel good. You deserve to feel good in your home, so don’t skip out on the renovations that will make you feel cozy at home.