3 Tips to Increase Investment Property Value

Real estate professionals can be expected to be called upon to offer a “learned” opinion now and than upon matters relating to investment property, specifically how to increase its value. Depending upon the condition of the property, one or more of the following suggestions you can offer may be helpful. In any event, clients should be aware that it is not difficult to increase investment property value. Some value-added projects can run into the thousands of dollars, like a roof, but others can completed without breaking the bank.

Roofing.
Since the whole idea of living in a house is to be sheltered from the elements, it should go without saying that a solid roof is pretty important; it’s one of the first thing real estate agents, inspectors, and buyers look at. Don’t expect to sneak a substandard roof past all these professionals. To replace a roof completely will likely cost $10,000 to $15,000 dollars, and you wouldn’t be blamed for exhibiting a certain reticent to shell out that kind of cash. Don’t forget, however, that any prospective buyer is going to expect you to come down off the price you’re asking by the amount it will take to fix a roof if he reasonably believes it to need repairs within a few years.

Energy Efficiency
These days, people get giddy about the thought of saving money on energy bills, a fact which makes it a very good idea to trade out money sucking appliances for more energy efficient units – Energy Star is probably the best known example. Appliances with this brand tell you right on the unit how little it costs to run them compared to others. Pay attention to possible tax benefits while you’re shopping. Some states offer rebates or other incentives to encourage you to choose more efficient appliances.

Greenery
Not only does a tree-shaded lawn drive up the aesthetic appeal of your investment property but shade thrown on a building through the heat of summer can actually save you money at the same time. Compared to roofs and appliances, this is a very cheap way to increase the value of your property investment. Seedlings are a cheap – maybe even free if you contact your local conservation agent – and easy way to spruce things up. A local nursery can probably help you pick out a variety that is low maintenance and provides good shade at maturity.

Now you have some ideas on how to increase investment property value, don’t just sit around and watch the paint peel. Get out there and plant some trees, buy a roof, and find efficient appliances. You checking account will thank you.

The Bonus Commissions Team

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