If you are buying and planning on re-selling or renting out, to get the most out of your property you might want to do some upgrades to give it curb appeal. The number of upgrades needed would depend on a case by case scenario. Obviously, if the roof, foundation, etc, needs to be done, that’s without question. I am talking about major renovations, but upgrades. That curb appeal and that make a buyer go, “wow” and pay a little extra for the place.
If you aren’t going to work with a designer and you would like to do it yourself, I suggest going to the library or buying a bunch of up-to-date home style magazine to get ideas of what’s in right now. Knowing your market isn’t such a big deal because most everyone wants something chic and stylish. Something I like to call “urban chic”; a lot of clean lines, minimalism and bright open spaces. A Zen-like approach. That look is selling to the mass market right now.
First impressions are always important, so the outside of the house needs the most love. Don’t go boring either. Chose exciting colors like grey/mauve, terracotta or sage. Paint everything that needs it, wood, railing, mailbox, light fixtures, etc. I’m not talking all one color, have some black or white in there for contrast. If they can’t be painted, replace.
If there isn’t any landscaping or it’s shot, you need to revamp the look. Take out or trim everything that is overgrown. Be ruthless if necessary. Cedars are great when they are green and small, however, if they are yellow and too tall, get rid of them. Keep the look short, so you can see the entrance way. Weed the grass if any, add more seed. Clean out the dirt of debris and weeds, add more dark earth and mulch. Make a nice clean line between the grass and garden. I would invest in a couple of bushes that contrast each other and some bright annuals that light up the front.
Floors are the most important. They make such a big impact. They have to be nice. If there is hardwood I suggest refinishing them. Staining them dark is always a nice touch. Parquetry looks incredible stained chocolate. It goes from a bad 1970’s look to something modern and Asian looking. If the floors need to be replaced, bamboo and other sustainable flooring are trendy right now. If the lino is old, change it. If you can afford tile, do it.
Kitchen. If the kitchen is an old wood 1950’s style, no need to rip that out and redo it and spend all that extra money. Paint it glossy cream and add stylish knobs. You could even add a molding.
If it’s white melamine, you could either paint it with special paint or keep it as is. Sometimes it’s the surrounding area that can buff it up and make it not look so “melamine”. Meaning, add a trendy tile backsplash, a new countertop, and knobs. If the melamine has a 1980’s border that can be taken off, remove it for a cleaner look.
If you have the 1990 oak cabinets, they look incredible painted as well. If the cabinetry is hanging from the ceiling dividing the eating area, you could take those down and reuse them somewhere else, like an island.
Extra touches:
- Faucets are important. They can be such a focal point to the room. You don’t have to go high end to have a polished modern look.
- I think the investment of crown molding adds so much value to the place if it’s done right (no need in the bathroom). Paint it gloss to give it a vintage look.
- Keep paint colors simple and light. Painting one wall in a room dark grey or another trendy color is fine, however, use minimally.
- Dark on light is very trendy right now.
- Make sure the flow of color from one room to the next is there.
- Clean, clean windows are a must.
- Tear down a wall if necessary to give the space more of an open feel. For example, opening the kitchen to the living room. You must verify with a structural engineer before tearing anything down.
- Pot lights and dimmers.
- Trendy light fixtures and knobs. Don’t go high end. Places like Ikea are fine or places that reclaim vintage.
Bathrooms are easy because it all lies in the choice of the tile and countertop. White tub, sink, and toilet are always in and if they are in good condition they won’t need replacing. The cabinetry can be painted a black, chocolate, white or cream. It will update any look.
Memphis Buy And Hold is specializing in locating, purchasing, renovating and managing single-family and multi-unit properties and possesses from 2007 up to the present of experience in real estate investing and property management in the Memphis and Nashville markets.
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