How To Avoid Over Improving Your Rental Homes

Home RenovationsWe know this sounds like a crazy concept, but believe it or not, it is possible to over indulge and improve in a property that you have purchased. Whether you’re flipping or renting, the homes that are in the HGTV magazine are in there for a reason, and it’s not because they want you to copy their idea. While using the examples of picture perfect homes is great for inspiration, in reality, the actual cost and practicality of renovating a home to this level just isn’t a good idea.

Here are a few tips to take with you the next time you start a renovation project on your next Detroit property.

Keep Things Basic

When you’re working on a rental property, the more simple and practical you can make things, the better your outcome will be.

  • Use the same color and flooring for all of your rental properties to ensure consistency and ease when handling these projects
  • Use the same appliances, when possible, for all rental properties and renovations
  • Replace all electrical outlets, repair any windows, and tend to the outside of the house before a tenant is approved to move in
  • Find fixtures that are quality, but not too flashy. You want your items to be basic and last a long time.

The goal when renovating a house is to keep things simple and safe for your new tenants.

Rehab To Code

The homes that are renovated the best are focused on keeping things up to code. The new items you are able to put into a property are great, but make sure that everything is installed and hooked up correctly. Additionally, pay attention to some of these little details that will improve the quality of your rehabbed home.

  • Windows that are caulked correctly, before painted over
  • Update plugs and switches
  • Make light fixtures consistent and functional

There are inexpensive ways to update any home, but make sure your property is up to snuff before listing!

Hire A Designer

If the home that you’re renovating needs a serious overhaul or you’re preparing to list it for a significantly higher price, you may want to consider bringing in a professional designer. They will ensure that all of the little details are exactly how they should be, from the floor to the ceiling and everything in between. Little items such as backsplash may not be on your list of things to renovate, but a designer will be able to tell you how significant this change could make in your price point.

Ideally, you don’t want to always fall for the most glamorous house on the block. Keeping things simple allows your tenants the ease of customizing their space, and keeping your budget low.