When you’re buying a home as an investment, there are a few things you can do to increase its value. While that may not translate into extra profits at the closing table, these improvements can really pay off if you plan to live in the home or rent it to tenants.
3 Improvement Projects You Can’t Overlook as an Investor
Check out these three improvement projects you can’t overlook as an investor:
- Staining the deck
- Putting a new railing on the porch
- Installing a new mailbox
Here’s a closer look at each.
#1. Staining the deck
Everybody loves a good outdoor living space, and if the home you’re buying (or that you’ve recently bought) has a deck, putting down a fresh coat of stain can go a long way. You want the deck to be warm and inviting so people can envision themselves spending time on it – even if they really won’t once they move in.
#2. Putting a new railing on the porch
Safety aside, adding a new railing can give the entire exterior of a house a whole new look. Choose something wood-toned for a classic look, a brightly colored railing for extra panache, or even spring for a Chippendale railing.
#3. Installing a new mailbox
One of the easiest upgrades you can make for any home is a new mailbox. If the HOA allows it, choose one that’s a nice color other than black. If you can, add some flowers to the base to make it even better.
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