This case has prompted me to note a few finishing touches that could be added to investment properties to improve the annual return. Besides the common home comforts of space, air conditioning/heating, modern fittings, replacing odd and outdated features etc, what’s popular and sought after??
They say fashion trends cycle every 20-30 years and I remember scrapping outdated wallpaper off walls with my Mum about 25 years ago! Can you believe it?? – Wallpaper is back in fashion! Tenants, like home owners, like to have a bit of style. Wallpaper with a stone, brick, or texture adds a bit of funk. Instead of painting a feature wall, applying wallpaper can modernize an area and bring it to life.
It’s attractive to tenants to see a property provides storage options but storage can also add style to a home. While wardrobes and kitchen cupboards are a must, adding built in storage to areas that would otherwise be wasted space like under stairs, garage back walls or passage alcoves gain properties a lot of brownie points in the rental market. Thinking outside the box, storage doesn’t have to be in the way of traditional shelving; it could be even a floating drawer near the entry. Floating cabinets are most popular as it adds an element of space.
Accent cabinet doors
Tying in with the concept of storage, mismatched cabinetry is trendy this year. Using different material and color for overhead cupboards adds modern style and can be quite stunning in feature areas, especially when the kitchen is open plan and forms part of the style and decor to the whole living area.
This can be a tough one as adding cornices isn’t cheap but seeing a home fully dressed opposed to bare walls makes such a difference. Big “old fashion” style cornices are making a come back and add wow factor.
If you would like suggestions on how to keep your investment modern to attract the best rent and tenants and ultimately value, just ask your experienced Property Manager!