So, you’re looking to invest in the outdoor areas of your investment property. Whether you have just gotten your property or you have owned it for awhile, you know that there are some things that you can do to make the outdoor areas look awesome and to give you some return on your investment. Here are five of the things that you need to look at and consider if you want to invest in exterior home improvements that pay you back.
- Exterior Lighting. Safety first! Many people that rent are single and, because of that, you are going to find that exterior lighting of any sort is going to make the difference when you want to get a tenant to rent your property. Add something like motion-sensor lights or solar lights that turn on at dusk and you’ll see that people are more interested in your property.
- Landscaping. This may sound generic, but when you go to HighReturnRealEstate.com, they explain that putting effort into the work that you are doing in regards to landscaping can be a big deal. By having an outdoor area that is well-maintained and has a garden, bushes and well-trimmed grassy areas, people are going to be more likely to rent or purchase from you.
- A Deck or Patio Area. You don’t have to spend a ton of money in order to get a great looking deck or patio area for your rental property. As a matter of fact, you don’t want to spend a lot of money, because the ROI will go down the more you spend on this renovation. Do something basic and simple so that the potential tenants or buyers can enjoy their outdoor areas, and they will be more attracted to the property from the time that they walk outside.
- Fencing. When you look around at the upgrades that you may want to consider making in regards to your outdoor areas, fencing could be a great option. If your rental property is going to allow pets, your potential renters are going to appreciate having that area for them. It also adds privacy and makes it more likely for people to feel comfortable moving into a home that has that extra layer of security built in to the rental in the first place.
- Roofing and Siding. These are, likely, the most expensive things that you will have to deal with. But, the good news is this – roofing will last up to 30 years after you have installed it, depending on what you’re installing and how much you spend on it. Siding can last up to 20 years, and it will last longer if you use a different material as the base. That means that you will be making a pricey investment, but you aren’t going to have to replace it for a really long time – it may even be sold or passed down before it needs another repair!