Have you recently purchased a buy-to-let property? You may find that the decor isn’t to your taste or there is some maintenance that needs to be completed before you can start renting it out. When revamping the property, you need to remember that you’re not living there, so instead of choosing what you like, you should start thinking about what your potential tenants will be looking for.
Here are some decor tips which will help you enhance your property, as well as increase tenant demand and investment returns.
Choose colours wisely
If the current decor in your investment property consists of outlandish colours and patterns, you need to remove this straight away, as this will be off-putting to most tenants. Although there may be a handful of people who appreciate this type of decor, you need to stick with the majority vote, as this will guarantee tenant interest. To cater to everyone, you should pick out neutral colours, like white and beige, which will help create a blank canvas feel that will allow tenants to pictures themselves personalising the space.
You could also consider adding some pastel colours, although these shades should only be used for small accents. For example, property investment experts, RW Invest use hues of blue and yellow in their properties paired with a minimal colour scheme, which makes them stand out from typical show home properties that tenants tend to find bland and unhomely.
There is nothing more off-putting to tenants than a cramped and dark property, so if that is the current state of your buy-to-let, you need to make some changes. Even if you have a small studio apartment, there are ways to make your property appear more spacious. The best way to do this is to enhance light, which could mean replacing small windows for larger styles that will let in natural light. To create more light, you should place mirrors opposite windows, which will force light to be reflected throughout your home.
Another easy way to create space is by decluttering the property, so you should remove anything that does not fit in with your new decor. This includes removing any unwanted furniture and rearranging the rest to ensure you that you maximise the space as much as possible.
Build on existing designs
Revamping your property is different from a complete renovation, as you’re not ripping everything out to start again, which is usually a much more costly process. However, you may need to implement some structural changes such as knocking down walls to create a larger kitchen or even converting a loft. When doing this, you should try to maintain the original features of the property as much as possible. Furnishings like a traditional fireplace may have drawn you to the property, therefore you should avoid ripping this out, as you want to maintain the home’s character as much as you can. To maintain this, you may need to perform some repairs to restore fixtures like the doors, windows, the roof, and more. However, if you find that the repair costs are more than expected, you may need to opt for a replacement instead.