After taking out an investment home loan and starting your property portfolio, you may begin to wonder what the next step in being an investor is. Owning property is a long term game, where waiting for value to accumulate is the end goal.
However, there are a number of ways you can help to speed up the process, with one of the most common being renovation. There are a number of things you can undertake that can help you to increase the overall value of your property easily and effectively.
A simple way to increase your property's value is to simply redo outdoor spaces around the house. Digging into the backyard and planting a number of colourful, sustainable flowers is a good place to start.
Furthermore, adding ornaments – such as bird baths, fountains or statues – can be a great way to provide a sense of class to the area. This could be especially useful if you couple it with an entertainer's deck, providing enough room for people to lounge and relax during summer.
Redoing the kitchen is another place to focus your attention within the home. This is one of the busiest rooms in the house, with people using it multiple times every day.
Therefore, you want to provide an environment that people wouldn't mind spending a lot of time in. Simple things like replacing old faucets and cupboards can help to improve the overall look of the room, while replacing the benchtop will provide the space with a new lease on life.
These are just some basic ideas for renovating your investment property. Keep an eye out for interesting designs and consider implementing them into your portfolio.
You can contact a Smartline Mortgage Adviser on 13 14 97 for home loan advice. Or complete our call request form and we'll call you!
DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.