Home Remodeling Tips For Investment Properties In Michigan

investment property

The goal with any investment property is to spend the least money possible to get maximum returns. Spend too much and you may never get your money back. Spend too little and you may be forced to make repeat investments in the future. These home remodeling tips for investment properties in Michigan will help you determine which projects best suit your needs.

Finish The Basement

Many homes in Michigan have basements. These areas can significantly add to the square footage of a home, thereby allowing you to increase your rent values. Basement finishing is an affordable way to transform an investment property. The key is to make the finished basement a neutral space so someone could use it as a gym, den, play room, guest room, or anything else along those lines. If the washer and dryer are in the basement, you may want to separate them from the rest of the space. We can go over all of those options during your basement finishing quote.

Avoid “DIY” Projects

One way that homeowners try to save money on home remodeling is by doing the work themselves. This is fine for certain tasks, like caulking the windows or painting the walls. For major renovation projects though, it’s best to leave the work up to the professionals. This is especially true for investment properties because renters are going to notice sub-standard work. The professionals understand local codes that dictate how things should be installed, like new electrical wires, plumbing, roofing, etc. Trust their expertise to get the job done right.

Keep Everything Low Maintenance

With every design decision you make, you need to think about how easy it will be to maintain the features moving forward. Your renters may not be the cleanest people in the world. You won’t know that until they move out. When they do, you want something that will clean up easily so you can get the house back on the market. Dark colored flooring, dark stained grout, dark countertops, semi-gloss wall paint – these are just some of the ways to keep your investment property low maintenance. Contact Total Home Solutions to schedule a home remodeling quote in Michigan, and we will help you find the best finishes for your long-term goals.

Always Use Neutral Colors

The entire home should be as neutral as possible. This will keep your pool of renters wide, and it will save you from remodeling frequently. Blue countertops were popular 20 years ago, but they’re quite an eye sore now. Avoid “trendy” design choices and stick with options you know will last.

Note that “neutral” doesn’t mean “white.” There are lots of fun colors to choose from: grey, beige, off-white, sage green, dark brown (for flooring, trim and cabinets), and more. You don’t have to be limited to a boring color palette just because you go neutral.

Restore What You Can (Rather Than Replacing It)

If you can restore the features of your investment property, you will save a ton of money in the end. A great example of this is in the case of kitchen cabinets. Those can be pricey to replace, and doing so often requires a lot of extra adjustments. If the existing cabinets are in good condition, you can paint or stain them to make them look like new. You can also replace the doors and door hardware while keeping the cabinet bases intact. Look for ways to use what you already have, and you can spend the leftover money on other property renovations.