Want to improve the appeal of a property to impress new tenants and make a profit? Start with considering how to finance your plan. For instance, you can apply for a home loan. Once the funds are available, decide what kinds of capital improvements you can afford. Here is a step-by-step guide to boost your property appeal and value for new tenants.
Go for a Home Loan
The current times prompt you to stay safe. So, choose a reputed bank that offers a digital home loan process for a faster turnaround time that can help you start your project quickly. Ensure that the bank offers highly competitive home loan interest rates. Once you’re satisfied with the facilities, apply for the loan right away. Keep the home loan documents ready before applying. Choose a suitable tenure within which you can repay the loan completely. You may use the online EMI calculator beforehand to settle for a payable EMI amount.
Purchase Smart Home Appliances
Appliances that work with smart technology can add the “wow” factor to your property. For instance, you may buy a thermostat and microwave that save electricity and are cost-effective in the long run. You may get a smart griller that lets you know when the meat is grilled. Buying an air-conditioner that automatically turns off when the room is cooled, may also be worth considering.
Opt for Modern Flooring
Modern floorboards are far better than carpets in many ways. They are more durable and therefore, last longer. Plus floorboards are super easy to clean. Try to learn about the tastes of the tenants. Accordingly, choose tiles, wood or laminate as the floorboard material. Ensure the finish is great and is in tune with the interior décor. Your home loan will cover all the costs.
Add a Comfortable Workspace
It’s a great way to add value to your property. A fast home loan process can finance this investment quickly. Many people prefer working from the safety of the home now. Therefore, a comfortable workspace may be exactly what modern working tenants would be looking for in your property. Add a workspace and equip it with ergonomic chairs, a table of adjustable height, and brilliant WiFi. Place some plants to keep the air fresh and boost productivity.
Paint the Walls
A nice coat of paint can instantly change the overall appeal of your property. Choose anti-microbial water-based paints that are safe. Go for statement colours in neutral shades and contrast them with accent tones. Aim for a flowing layout and a consistent colour scheme. Choose light shades for small rooms and dark ones for big rooms. Paint the exterior walls too so that one look at your property and the tenants fall in love!
Among other improvements, replace old rectangular fluorescent lights and yellow incandescent bulbs with evenly distributed LED lights to avoid dim lighting. Any improvement you think of, big or small, a house loan can finance it smoothly. So, make sure to apply for a home loan right at the start.