Many properties that are bought for investment but which are going to be renovated before occupation are on the smaller side. Here are some tips that might help you give it the appearance of a larger home when renovating a smaller property, especially and older style property.
• Carefully look at the total layout and see if there are any rooms that can be changed in size of knocking out walls. One of the most common walls to be removed is the one between the kitchen and the dining area.
• If possible and if the funds allow for it, go up another level, even if it is a parents retreat. This can work really well.
• Raise ceilings if the house has low ceilings. This can make an immense difference to the ‘size’ of a room
• With the house being smaller you may be able to spend a few extra dollars on light fittings and other appliances in the house and it will be worth it in the long run. Add some sizzle to the home and this can help with the final rental income, but not necessarily an extra lot of money to the renovation cost. Use a professional if necessary to make that extra difference.
Keep in mind that smaller homes well decorated are attractive to baby boomers and also to professional newlyweds without children. Both of these tenant choices usually make very good and long term tenants so the décor needs to fit. Keep it tidy, modern and easily manageable.