Nobody would want to break, much less burn a hole through their bank accounts even if the task entails a property investment. But what many people fail to realize is that they need not spend every single dime in order to better and improve an asset’s value. There’s more to it than expensive renovations and even the experts would agree. Curious how? Check out the following tips.
A fresh coat of paint does wonders.
Sometimes, all a space needs is a newer paint color. It makes everything look and feel fresh in an instant. Where possible, go for colors that maximize and brighten up a space. Plus, a bucket of paint is pretty cheap.
Clean everything up.
Yes, from the inside out and every nook and cranny. Manicure the garden and bump up the curb. Weed out and mow the lawn too. Don’t leave out the rest of the property either. By simply tidying things up, value can rise considerably.
If you need to spend, put it on the kitchen and bath.
If you have a few bucks to spare, make sure to spend it to renovate or improve your kitchen and bathrooms. These spaces spell a lot when it comes to assessing the market value of any property investment. They need to be clean, spacious and highly functional too. From changing a dingy backsplash or repainting cabinets, this does wonders.
Add more storage.
The more storage a property investment has, the better it fares in the market as buyers want as much space as possible. This can be seen in added cabinets and shelving or the wise use of limited space such as in vertical and corner storage systems.
Let light in.
Choose to open up a room by allowing as much natural light as possible. Choose lighting fixtures wisely as well. They need to illuminate the space and they need to do so at a frequency by which each room is intended to be.
Increase space where possible.
A property investment is bound to increase in value with every additional square foot of space. But you need not acquire adjacent land or build an extension of the building. Those are possible but they will be hefty. A cost-effective way to achieve this would be by removing unnecessary divisions and choosing the right pieces of furniture, fixtures, accents and lighting.
Investing is a huge deal. There’s no doubt in that which is why it would be no surprise why people would want to double check on a lot of things before they put their hard earned cash into an investment of their liking. So for today we decided to put the spotlight on a commercial property for sale in London and whether or not it’s worth it. Let’s list down the pros and cons to it!
The tourism sector is on a boom. – Considered to be one of the world’s leading tourist locations, London has a lot to brag when it comes to bringing both domestic and foreign visitors all over its charming landscapes and sights. This creates a demand for establishments like hotels, restaurants, shops and a vast number of businesses that will need a commercial unit. This aids in asset appreciation as demand brings prices up.
Population count provides demand. – Citizens, residents and visitors combined, the London population brings to life various demands from the basic commodities to entertainment to transportation needs and so on and so forth.
Business is alive. – With more and more investors wanting to take advantage of the demand within the city, business thrives from all sorts of industries.
Foot traffic is promising. – With its tourism industry being one of the world’s biggest and a steady number of population, foot traffic makes the city very promising in terms of commercial spaces. The exposure it brings makes for a huge benefit for your brand. If you are a landlord, this heightens demand thus profits too.
Income is good. – With all the aforementioned advantages, it is safe to say that renting out the commercial unit shall bring in a steady stream of income while keeping it for your use will still bring in returns as it can increase in value over a span of time.
It can be expensive. – The only downside that many investors will likely come face to face is the fact that properties in London come nowhere cheap. Sure some may be more affordable than the others but we all know that with demand come higher values and thus higher price tags. You’ll need to come prepared to win it after all, the benefits outweigh the costs at the end of the day.
So are you willing to bet your bucks on a commercial property for sale in London?
Renovating and upgrading your investment property is not a piece of cake, work-wise and money-wise, which is why it’s important for you make certain that every penny spent actually adds to the asset’s value.
But are there any valuable upgrades that won’t hurt your wallet? Yes there are and you’ll be surprised why you haven’t thought of them first. Here, take a look at some of them.
Spruce the Walls
Who knew something as simple as paint could do so much? A fresh coat of color can instantly brighten up and refresh any space. You can go as simple and versatile or bold and daring. You don’t even have to repaint every square inch. Have fun with accent walls or use stencils for that wallpaper effect at a much cheaper cost.
Rehash the Front Door
The entryway packs a lot of punch to every property. Not only does it impact initial appearance on the exteriors but it’s the welcoming aspect of it all. But not all of us have the time and resources to give the exteriors an overhaul. An easy fix? Do your front door. It can do more than you’d expect.
Change the knobs.
Pick consistent door knobs throughout your home. You may however choose unique ones for the entryway. You may also want to consider replacing knobs on cabinets and drawers with better ones. A lot of classic, vintage, quirky and versatile designs have been popping out lately. It’s a little touch up but small details go a long way.
Improve your light switch plates.
Just because it’s functional doesn’t mean it has to be boring. There are ways for you to make them less of an eye sore. Pick plates that are the same color as your walls. If you don’t want to spend then you can just unscrew them and use spray paint for an ever cheaper fix. If you want to play it up a little, cool designs are available in the market too.
Increase storage space.
Think your space through and take advantage of every square inch of space. Add shelves, cabinets and drawers where possible. Use vertical storage units to maximize the area. You can of course buy them at stores but you can bring out the DIY diva in you and build your own.
Add some plant magic.
An investment property gets an instant retouch with the addition of plants, whether interior or outdoor. You can increase curb appeal just by manicuring your garden, mowing the lawn and upping your landscape game.
Property auctions are known to be quite a popular avenue to buy and sell real estate assets of all kinds.
By definition, it is an accelerated means to trade properties through an open cry competitive bidding. Of course, the highest bidder gets awarded of the rights to the acquisition. It is an effective and viable means to end up with a good deal but expert bidders and auction participants know too well that a simple slip or fallout can mean a loss. So to avoid falling into the death trap, below is a list of mistakes to never commit at all costs, brought to you by Singerviellesales.com.
Never prepare financing at the last minute. – Before taking an interest to offer, make sure that you have the assets to finish the exchange if you ever end up as the winning bidder. In many auctions, a security deposit will be asked and a winning bidder will be required to pay forthright expenses with the rest to be paid depending on the agreement of the contract, oftentimes in monthly intervals. Failure to comply shall make forfeit the winning bidder’s rights.
Never forget to set a limit. – As a rule of thumb, make sure to set a price range before going into battle. What are your financial capabilities and limits? How much are you capable of bidding and to what extent are you willing to? This makes sure that you don’t go overboard. It can be an emotional roller coaster out there. This is your safety net.
Never forego the budget phase. – One has to make sure that all financial resources obtained for the auction must be used accordingly. This is applicable even if one only wishes to buy a single asset.
Never bid blindly. – Abstain from buying without first assessing and checking. Before the bidding date itself, have a full handle about the properties you wish to acquire. You should double check that it is for sure what the seller presents it to be. Have it examined and reviewed to assess genuine worth, condition, useful life, ongoing costs, legal issues and more. In fact, go ahead and pay it a visit ahead of time to see it for yourself.
Never show your cards. – What we mean here is that during commercial investment property auctions make sure to avoid divulging sensitive and significant information. Don’t tell anybody, not even the agents, of the amount you intend to spend on the closeout or in any of the properties being advertised. Keep in mind that agents and sellers can use such information against you to profit more. Good for them but not so for you. Plus, telling other bidders of your plans is an obvious case of suicide.