Four Ways to Invest in Your Rental Property

07.09.18 01:13 PM By David

Do you want to increase the value of your home? You'll find thousands of articles on the internet telling you to renovate your kitchen and bathroom. Kitchens and bathrooms do sell homes, but what if you're not planning to sell your home immediately? There are several renovations that are guaranteed to stand the test of time.

Freshen up Your Front Yard

Landscaping is one of the few investments that won't depreciate in value over time. In fact, gardens become more beautiful as they mature. Those sapling trees you plant will one day grow into mighty oak trees that provide shade for your family. Perennial flowers come back stronger every year, and established gardens are often more beautiful than newly planted flower beds.

According to Eric Shorb, co-owner of a Maryland-based landscaping company, homeowners should invest 10 percent of their home's value into landscaping. That probably seems like a lot of money to spend on plants, but remember, it's all about curb appeal.

Add a pop of color to your front yard with flowering shrubs. Remove weeds, mulch, and hire a professional to mow and edge your lawn. Solar lighting looks great and provides added security, and if you have room in your budget, install a sprinkler system and lay new sod.

As with any home improvement project, you'll want someone to get the job done right the first time, so be sure to hire an experienced landscaper with verifiable references.

Install a Metal Roof

Home trends are constantly evolving, but there is one thing that never goes out of style: a roof that doesn't leak.

Traditional asphalt roofs need to be replaced every 12 to 15 years, and there are additional costs associated with maintenance and repair. Modern metal roofs last anywhere from 30 to 70 years with little to no maintenance. A metal roof may cost more to install up front, but homeowners have found that they save money over time.

Metal roofs are incredibly durable. They withstand rain, sleet, snow, and high winds, and since metal roofs are fire and lightning resistant, homeowners can save money on their insurance premiums.

Metal roofs can also save you money on your home heating and cooling bills. Metal reflects the sun's rays in the summer and insulates against heat loss in the winter, making a metal roof an energy efficient choice.

What if you plan to sell your home in the near future? Is a metal roof still a smart investment? Typically, a new roof is considered a regular part of home maintenance and doesn't increase the value of a home. Homes with metal roofs, however, are in high demand. If you decide to sell your home, you'll be able to list for a higher price because you installed metal roofing. Homeowners should expect a metal roof to increase their property value by one to six percent.

The benefits of installing a metal roof are apparent, but to ensure you get the most out of your new roof, you'll want to contact metal roofing contractors to see if your home is able to have a metal roof and to see what would be needed to make the transition.

Upgrade to Solid Hardwood Floors

As beautiful as they are durable, hardwood floors are guaranteed to add value to your home. Hardwood floors can last for 25 years with very little maintenance. Scratched hardwood floors are easy to repair, and solid hardwood floors can be refinished for an updated look. Simply sweeping, dry mopping, or vacuuming your hardwood floors will keep them looking as good as new, thanks to their stain resistance.

Home buyers in today's market don't want carpet in their house, especially somebody else's carpet. Since hardwood floors won't trap dust and animal dander, they're better for air quality than carpeting.

Say Goodbye to Popcorn Ceilings and Textured Walls

Nothing makes a home look more dated than popcorn ceilings and heavily textured walls. If popcorn ceilings were installed before 1977, they could contain asbestos, so hiring a professional to remove popcorn ceilings is important. Textured walls can be skim-coated with primer and joint compound for a smooth finish.
Incorporating tray ceilings or ceiling beams into your design is a great way to spruce up a home. They add interest to any room and increase the value of your home.
The most important thing to remember when planning any home improvement project is to hire a qualified professional to get the job done right.
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