Renovation ROI: Upgrades to Help Estate Agents Secure Higher Rents and Faster Sales

When managing a portfolio of properties, you need quick solutions for homes that won’t sell. Fortunately, there are plenty of renovation ideas ideal for increasing house rental value and securing faster sales, and we’ve got the very best of them right here.

Keep the market moving and drive demand with these house renovation tips.

Increase street value

First impressions always count, so make sure the property’s exterior is looking its best.

Peeling paint and dirty walls, for example, aren’t going to entice potential buyers through the door. If the house is a little run down, some quick fixes include:

• Washing the walls.
• Washing the windows.
• Painting walls, door frames, and doors.
• Mowing the front lawn.
• Removing weeds from paving.
• Fixing any features (such as a broken door handle or smashed light bulb).

There are also more labour-intensive home renovation ideas for properties that you’re struggling to sell.

For example, electric garage doors can improve the appearance of a home while adding convenience and safety. Landscaping and re-paving are also smart choices for front gardens in need of attention. Replacing cracked shingles with a new roof will make a successful survey more likely and prevent sales from falling through.

These can be more time-consuming and expensive (so sometimes hard to convince clients of), but if you’re looking to see a significant increase in value or a decrease in time spent on the market, they’re great choices for renovations.

Give the Property a Neutral Makeover

Potential homeowners and tenants want a blank canvas. If a property has bright pink walls or a deep red kitchen, you might be hindering the sale of a property or reducing its value.

For a quick sale, it’s highly recommended you opt for neutrals that won’t restrict the property to a niche audience. White walls, cream carpets, and neutral-toned woods are all ideal.

Vendors should also remove any existing furnishings or features that aren’t in keeping with a minimal aesthetic. Stick to the mentality of ‘less is more’ in terms of decor, both in style and quantity.

Work With the Space You Have

When it comes to what adds value to a house, the most in-demand feature is space. No seller is going to extend in order to sell (of course), so you can’t add more square feet than you already have.

This is where you need to work with your room sizes.

For example, a double bed squeezed into a single bedroom will only make the space appear smaller. Instead, create a simple home office layout that better displays the functionality of the room.

Get rid of clutter, too, in order to make small spaces feel larger. You can add mirrors to your walls to give the illusion of space and opt for lighter wall colours to open up your rooms.

Consider Scent Psychology

Scents evoke good and bad reactions, so taking control of the smell in your building is a must if you want to increase value and encourage speedy sales.

A house that smells damp is likely to set alarm bells ringing for potential buyers and tenants. This makes it crucial that you carry out renovations to prevent existing bad smells, including stopping leaks and improving ventilation.

You can also look at filling your home with popular scents.

According to research, the top scent to secure a sale is freshly baked bread. Other great choices for increasing interest in your property include lavender, fresh linen, and vanilla.

So, the next time you have a viewing, bake a batch of bread or light a scented candle for a quick upgrade to your property.

Focus Renovations on Your Kitchen and Bathroom

If you choose to carry out larger-scale renovations on a property, the two main areas to focus on are your kitchen and bathroom.

These are often the rooms with the most in-built appliances, making renovations more impactful. Many homeowners also view them as the most practical spaces and want them to be appealing to use.

You can quickly transform a kitchen and bathroom with a few renovation tricks, including:

• Regrouting stained bathroom tiles
• Resealing a mouldy shower
• Replacing taps and plugs
• Installing more practical storage
• Replacing cabinet doors and/or handles
• Adding a splashback

Never underestimate the impact of a new coat of paint, too. From kitchen cabinets to bathroom walls, you can quickly upgrade your property with a neutral paint colour.

Create a Low-Maintenance Garden

A low-maintenance garden is one that looks good with minimal upkeep. This is a perk for both you and your potential buyers/tenants, making it a win-win!

Some tips to create a garden that doesn’t need much upkeep include:

• Creating seating areas that don’t require mowing a lawn to use (like decking or patios)
• Planting hardy perennials, low-maintenance succulents, and evergreen shrubs
• Using plant pots to add moveable greenery

We recommend checking out our guide to Creating a Low-Maintenance Garden for more advice.

Final Thoughts

A house's rental value and how quickly a property sells can be influenced by a few easy renovations. We hope this article has given you plenty of tips to help you get started! For more property advice and information, check out the Keyzapp blog.