SPONSORED ADVERTISING CONTENT How To Elevate Your Investment Property This Summer COVID-19 has undoubtedly had an impact on the real estate market this year. Peak seasons have fluctuated in response to changes in buyer behavior and investors are now challenged with adapting to a market that’s diverged from the norm. While industry experts ponder what the future holds for home sales, investors can take steps to keep their assets in good condition and potentially increase their value. Update the Aesthetic One of the most effective upgrades you can give your investment property might also be the easiest to do on your own. According to Dan DiClerico, an industry thought leader and HomeAdvisor smart home strategist, simply repainting can potentially increase the final sale price of your home by 1% to 3%. Brightening up the interior with shades of white opens up smaller spaces while a variety of color combinations on the outside can accentuate unique aspects of the structural design and increase curb appeal. A kitchen makeover can also spruce up your property’s look. The beauty of renovating your kitchen is the ability to do as little or as much as you see fit while still enhancing the room. Replace older appliances with stainless steel ones or take things to the next level with smart devices like an app-operated electric oven or a touch screen refrigerator equipped with WI-FI. If you’d prefer to take on a DIY project, installing new faucets is now easier than ever. This update has the potential to both elevate the kitchen’s look and improve the functionality of your faucets. Freshen Up the Exterior Painting isn’t the only thing you can do to add charm to the outside of your property. The summertime is a wonderful opportunity to freshen up the greenery in your front yard. A little bit of landscaping can go a long way in making your property look well kept, even if it stays on the market for a while. Planting a small garden near the entryway might also set your investment apart from other homes in the area. A few flower beds of Begonias or Vinca’s will add a pop of color that may attract the eye of prospective buyers. Do a Complete Overhaul When you initially purchased your investment property, a full-scale renovation may not have been in the cards. However, 2020’s decelerated home selling summer season offers an opportunity to do more extensive work that may not have suited your timetable in a hotter market. If your budget and resources allow for larger renovative projects that can boost your home’s value, this may be a good time to replace outdated flooring, remodel the master bathroom, outfit the home with high-tech security features or complete other large projects before buyer demand rises again. When you’ve finished making renovations, you can use platforms like Hubzu to market your asset online. With Hubzu’s Signature Seller Auction program, sellers can upload photos and share a video walkthrough of their property so buyers can tour virtually from the safety of their own home. When you’re ready to market your listing, you’ll have an audience of over 1.7 million registered users just a click away. Though investors won’t have all the answers about what to expect for the remainder of 2020, adding value to your properties with both small and large-scale renovations may help prepare you for the next increase in active home buyers. Visit Hubzu.com/ThinkRealty to find and bid on properties in your area.
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