|
Now
it's time to get your new property on the market. This may take
some amount of property development. If you are keen to add value to
your home for maximum profit here are a few tips to follow.
The
Kitchen
The
kitchen is generally the room that 'sells' the property. Whether
your prospective tenants are a family of four or a young, single
professional, the kitchen will play an important role in achieving
maximum rental.
 It's
important to know you market when doing renovations, particularly in
the kitchen. When it comes to families, size is key; most are
looking for eat-in kitchens with plenty of light and space. They
probably aren't as fussed about the taps, handles and work top as
a single young professional; however, a young professional won't
want as much space, so you won't need to knock any walls down.
Bedrooms
Adding
a bedroom is the best way to add value to your property. You need to
remember your market once again, as a two-bed flat for young
professionals will need double rooms, so don't bother adding just
a single, it will end up being wasted space and won't increase the
sale price. However, if you market is families with young children,
adding smaller rooms will add value as children only require single
beds.
Bathroom
The
bathroom is another room people inspect with detail when buying a
property. It can add value but it needs to be to a standard that
suits the house. There's no point adding a massive bathroom
extension when an extra bedroom would be better, but if you have a
large house with several bedrooms it is worth converting one room
into an extra bathroom. Remember large houses are often rented to
friends not families and they don't want to queue for the toilet
every morning before work.
Make
use of the space effectively. Families will want a bath, but
professionals will be happy with just a shower.
Remember
that once you have done all the changes and are ready to move some
tenants
in, you will need landlord specific insurance.
|
