6 Ways to Add Value to Your Investment Property

Whether you're looking to sell or upgrade, there are a few sure-fire ways to add value to your investment property with some clever cosmetics. Here are our best tips:

A fresh lick of paint

One of the quickest and easiest ways to give your property a new look and coordinated interior or exterior is a fresh coat of paint. Painting can be relatively inexpensive, whether you decide to do it yourself or hire professionals. Look out for this season's new colour forecast's for the latest trends.

Update your investment property fittings

One of the first things buyers or renters tend to look at are the doors and cupboards, lights, locks, curtains and blinds. Make sure these fittings are all functional, and consider upgrading any old or mismatched fittings.

Kitchen refresh

Redoing an entire kitchen can be expensive but the kitchen is one of the most important rooms in an investment property. Many buyers or renters prefer an open-style kitchen so if you have a traditional closed-room kitchen you may want to consider removing a wall. If you're not looking to make structural changes, you can replace benchtops, sinks or even cupboard fittings as a quick, inexpensive way to spruce up the kitchen.

Buff the bathroom

Everyone likes a sparkling bathroom, so pay close attention to cracked tiles, worn or mouldy seals and leaking taps. Like kitchens, bathrooms should also be stylish, modern and functional. Replacing broken towel racks or dripping shower heads can make a big difference, while new mirrors and lighting can be a great finishing touch to make the bathroom feel more spacious.

Add a bedroom

The three major factors that drive a property's price are the location, land size and number of bedrooms. While you may not be able to change the first two, adding a bedroom can make a significant change in the value of the property. Make sure you speak with an architect for this sort of renovation and don't forget you'll need council approval for your plans.

The great outdoors

Australians love the outdoors, a real attraction for buyers or renters is space where they can entertain, just by simply turning a small balcony area into an outdoor entertaining area with a barbecue and herb garden can add value, there are endless possibilities for your extra outdoor space.

Before you start any investment property renovations, think about your budget. 

What Is Kerb Appeal and How Can I Achieve It?

Kerb appeal is quite simply a measure of how appealing your property is from the outside. People say you shouldn't judge a book by its cover, but that's exactly what potential home buyers do each time they look into an estate agent's window, pick up a property sales brochure or go to view a house for sale. Kerb appeal can be crucial when trying to sell your home; get it right and you will probably attract more viewings, but if you get it wrong then many potential buyers will simply drive by and decide not to view inside.

On average potential house buyers need no more than eight seconds to decide whether or not they like a property. In some cases it can take even less time than that; the over-grown jungle of a front garden, peeling paintwork and an assortment of litter piled against a shabby front door with a cracked window are all examples of defects that will send buyers running for the hills before even stepping inside your property.

Improving the kerb appeal of a house is unlikely to add much to its value, but it can help to get buyers through the door to help you sell it at the right price.
Before viewing inside buyers will want to feel that the house has been well maintained. Any indication that they will need to spend time or money on immediate home improvements will put them in a negative frame of mind before they've stepped over the threshold. This could set them thinking about reducing any offer or, at worst, put them off all together.

Here are a few tricks of the trade that will help to improve your property's kerb appeal:

1. Clean and paint your front door. It may sound rather obvious, but this is something buyers are going to study closely while they are waiting to be let in to view. Additionally ensure your door furniture is clean and functional and the door knocker or bell works properly. The house number or name should be clearly visible and securely fastened.

2. The approach to your front door - whether it is a path, driveway or lawn - should be kept free from litter, rubbish, clutter, children's toys and vast collections of ornaments or gnomes. If possible conceal your rubbish bin, place it behind a fence or at the rear of your property; or put it in the garage during viewings if you have one. If you must have bins on show, make sure they are clean and the lids are on.

3. You should re-lay any uneven paving slabs or flagstones and regularly mow the lawn and remove weeds from paths, driveways and borders. Consider using a pressure washer to remove any grime from pavers and replace any patches of missing gravel.

4. Clean your windows and make sure the frames are in good condition - remember peeling or dirty paintwork indicates a lack of maintenance. Rotten window frames are to be avoided at all costs so repair and/or replace where necessary. If you are installing new ones ensure that they comply with any restrictions (such as planning permission or covenants) and that they are in keeping with the design of the rest of the house. Finally, it's a good idea to check that all blinds and curtain positions match when seen from outside.

5. Ensure your guttering is in good working order. Clear any blockages and check for leaks. Similarly you should address any issues with the roof, soffits or fascia boards.

6. A little greenery, no matter how small the space, will inject personality and colour into the property to create a welcoming feel. If you don't have a garden then try a hanging basket or window box filled with draping ivy, or place planters or topiary balls either side of the front door.

7. Freshen up a tired facade by re-pointing anywhere the brickwork needs it. If your house is rendered or the brickwork painted then it's always worth considering a re-paint. Paint colours should be in keeping with the period of the house and neighbourhood. If you live in a listed or conservation area check with your council if there are any restrictions on the colours you can use. Finally, if there is no restriction, then go for a neutral colour rather than choosing a crazy colour that most buyers would want to change.

8. An exterior light at the front is practical and can create a welcoming atmosphere - especially during the dark winter months. Additional garden lighting will enable you to show off your outside space during evening viewings.

9. If the unkempt garden next door is putting off buyers, rather than suffer in silence, why not simply offer to clear away any rubbish yourself. Next time you're mowing your lawn offer to mow theirs as well. Half an hour spent on a few gardening chores at the neighbour's house could make all the difference when the next buyer arrives to view your home.

Creating great kerb appeal doesn't necessarily have to cost a fortune, it's just a simple case of sending out positive signals that put the buyer in the right frame of mind before they've even entered your home. A house where the front garden is well-tended, the windows sparkling, the frames in good condition and the front door clean and tidy with polished door furniture will always make your property appear more inviting to a buyer.

How Important Is a Good Property Sales Brochure?

When selling a house, the printed property sales brochure should be fundamental to your property marketing strategy. Alas, all too often many vendors do not think of the brochure as a 'pro-active sales tool' and they simply regard it as nothing more than a point of reference for prospective buyers, giving them room dimensions and an idea of what the property looks like along with the estate agent's details on should they wish to make an offer. Many vendors do not realise how, with just a little effort, their humble printed property details can become a highly effective promotional aid that actively entices buyers.

Many people selling houses in the UK go down the traditional route of simply listing their property with a local estate agent. They then leave all of the marketing and promotion in the hands of the professionals - after all that's the agent's job isn't it? However the quality of sales particulars produced by estate agents varies widely, so it is in the vendor's interests to ensure that the printed details given to prospective buyers are as effective as possible.

In most cases the estate agent's fee will probably include some local advertising, listings on property websites or a photograph and summary details of your property in their shop window. Most estate agents will also produce a printed description of your property to give out to prospective purchasers. This will very often be in a pre-formatted standard template design.

A typical house buyer may cast their eye over hundreds of properties when searching for their next home, it is therefore important that your house stands out from the crowd. To have any chance of being noticed among the dozens of other similar properties for sale in your area or buyer's price range, it is imperative that your property looks as appealing as possible when prospective buyers first see it on-line or in the estate agents window.

Capture the imagination:

Estate agents in the UK are of course legally bound by certain rules regarding the descriptive content within a property sales brochure, but it is the photographic content that usually lets the side down. You only have one chance to make a first impression, so ensure the photographs of your property are the best they can be. If your leading photograph is an exterior shot of the whole house then simple things like ensuring the frontage is tidy will make a world of difference to the overall impression, also try to take the photograph on a sunny day. If your house has a driveway or garage then leave the car off the parking space while the photograph is being taken, this will draw the buyer's attention to the fact there is parking available rather than to what kind of car you drive. Additionally buyers will not be attracted by interior shots of kitchens with washing-up on show or scruffy laundry-strewn bathrooms - remember you're selling a lifestyle - and they will not be enticed by photographs of houses taken at night with only pitch darkness visible through the windows.

To avoid such mistakes ensure your house is clean, tidy and well lit before the photographer arrives. If your estate agent visits at night time to list your property, ask him to come back during the day to take the photographs. You wouldn't expect your estate agent to bring along 'David Bailey' to take photographs of your home, but if you feel your agent isn't a good photographer and hasn't captured the best possible image of your house, then find someone who is proficient and supply the photographs yourself.

One of the most common photographic errors is not keeping the printed details up-to-date; for example still using a photograph taken in winter with snow on the ground to sell a house in the middle of the summer. Perhaps the worst offence is an out-of-date photograph that shows flags in neighbouring windows taken during major sporting events - especially if the football word cup finished over a year ago! These kind of errors effectively 'date' your house and you could be giving buyers the impression that there must be something wrong with it to have been on the market for such a long time.

Retain the interest:

Once your beautifully presented property sales brochure has caught the buyer's eye, it should then entice them to come and view your property. Apart from containing an accurate description (fixtures and fittings, room sizes, floorplan, tenure etc), your sales brochure gives you an ideal opportunity to tell prospective buyers all about your property's unique benefits over other houses they may have viewed. You do not need to write a lengthy essay, but a few carefully chosen points in an opening paragraph that outlines your property's attributes can quickly give the buyer a 'feel' for how your house could become their next dream home.

A small section on local amenities, highlighting local schools, shops and entertainment facilities can also go a long way to enticing a buyer to view your house.

In summary then, a well-designed sales brochure should firstly promote your property and attract the right buyers to view your house by capturing their imagination. Secondly it should be a tangible piece of informative literature that retains the buyers' interest by answering many of their questions; highlighting the unique benefits of the property to make it stand out against the competition. Finally it should be kept up-to-date and underpin your whole marketing and sales campaign and complement any other marketing activities (such as advertisements or websites promoting your house for sale) by carrying the same sales message and clear, quality images.