Add built-ins and storage

One of the key benefits of investing in property is for you to have the ability to make changes. If done correctly and without over capitalisation, this can help add rental appeal and longterm value to your asset.

Here is a look at some changes that can impact your investment property’s rental appeal and its potential longterm value. Keep in mind if you are making bigger changes, talk to your local McGrath Sales Agent and find out what buyers are willing to pay more for in the area. Whilst you may not be looking to sell at the moment, planning ahead and having a property that will appeal to buyers down the track without over capitalising, makes good investment sense. 12 CHANGES THAT CAN IMPACT YOUR INVESTMENT PROPERTY’S RENTAL APPEAL AND ITS VALUE

1. Paint the walls. 2. Tidy up the garden. 3. Fix the flooring. 4. Update the kitchen. 5. Refresh the bathroom. 6. Add some extra features such as blinds or shutters. 7. Add built-ins and storage. 8. Add a parking space. 9. Create or enhance the outdoor living space. 10.Add security to the property. 11. Keep it well maintained. 12. Work with the body corporate to suggest building improvements.

Before you start planning to make any changes, it’s a good idea to talk to your local Property Manager to understand your target market and what appeals to them. Having this insight can help guide you on what improvements could have the biggest impact on the quality of tenants you attract, the rent you can charge and the long-term value of your investment property. Find your local McGrath Property Manager here.1

For more detailed information on how to add value to your investment click here.2

1

2 www.mcgrath.com.au/agent

www.mcgrath.com.au/find/a-propertymanager

3 www.mcgrath.com.au/advice/articles/12ways-to-add-value-to-your-investmentproperty