How To Renovate Your Apartment for Profit

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How To Renovate Your Apartment for Profit

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Whether it’s your own apartment that you want to renovate and sell, or you’re in the business of buying apartments to renovate and rent, you’ll want to know how best to spend your money to get the best financial return. – PowerPoint PPT presentation

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Title: How To Renovate Your Apartment for Profit


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How To Renovate Your Apartment for Profit
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  • Whether its your own apartment that you want to
    renovate and sell, or youre in the business of
    buying apartments to renovate and rent, youll
    want to know how best to spend your money to get
    the best financial return.
  • Below are some of the best apartment renovation
    projects to give you the biggest return on your
    investment

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  • The flooring
  • A great looking floor can be a real selling
    point, and while you might be tempted to simply
    have the floors carpeted in the cheapest way
    possible (especially if youre going to be
    renting it out), this may not be such a wise
    choice. Nowadays, wooden and laminated flooring
    is more popular, and an apartment thats cheaply
    carpeted right the way through, could deter both
    buyers and renters. So, it might be worth having
    laminated flooring in the kitchen, lounge and
    bathroom, and reserving carpets for the bedrooms.

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  • Interior lighting
  • Lighting is one aspect of a renovation project
    that should never be overlooked, as it has the
    ability to create a wonderful first impression,
    while not costing a great deal. Work with
    existing wiring to keep costs down even further,
    and simply update the fixtures or upgrade to LED
    ones.

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  • Painting
  • A fresh coat of paint is one of the quickest and
    most cost-effective ways to entice both buyers
    and renters to an apartment, and if you choose
    your colors wisely (i.e., dont choose wild
    colors that might not be to everyones taste),
    you can portray your apartment in the best light
    possible. How much you spend is entirely up to
    you, and whether you tackle it yourself or have
    it done professionally (this is recommended,
    since it will usually give a much better
    finished, expert look), is also up to you, but
    its rare that this aspect of a renovation
    doesnt help bring a healthy return.

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  • Bathroom renovation
  • While this project does typically require a
    slightly higher initial investment, it
    traditionally delivers an exceptionally high
    return, and if done well, i.e., by a professional
    construction company specializing in renovations,
    can be a significant selling point and enable you
    to increase the overall value of your home.
  • Some simpler, more cost-effective bathroom
    renovation ideas are as follows

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  • Replacing the showerhead
  • Resurfacing the tub
  • Upgrading the vanity and faucet
  • Cleaning/redoing tile grout
  • Replacing or adding shelving/storage
  • Upgrading the lighting
  • Upgrading kitchen appliances
  • If your kitchen is really outdated, dull and
    uninspiring, then a complete overhaul may be
    called for, especially as the kitchen ranks
    highly for buyers and renters. However, if you
    dont have a big budget, and your kitchen simply
    needs a little updating, you could consider the
    following

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  • Upgrading cabinets/storage
  • Having new countertops installed
  • Upgrading the sink and faucets
  • Updating the paint and flooring
  • You can of course, replace your kitchen
    appliances, too, and depending on your budget, a
    complete kitchen overhaul often offers an
    enviable return on your investment.

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  • Its important to keep in mind that any
    renovation work carried out in your apartment, is
    only ever going to be effective at enticing
    buyers and renters and increasing the overall
    value of the property, if its carried out by
    professionals. Shoddy workmanship to save a
    dollar will stand out a mile off, so work with
    the best, to achieve the best.

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  • RZ Construction Group Inc is a fully inclusive
    general contractor in Astoria NY. From initial
    design to final clean up, our results speak for
    themselves. We are fully licensed, insured, and
    bonded to provide both commercial and residential
    construction services and kitchen renovation in
    Astoria and the surrounding area. Proud to serve
    New York State for 25 years. No job is too small
    nor too big. If you are looking for apartment
    renovation in NYC or want to know more about our
    wide range of professional but affordable
    construction and repair services, reach out to us
    at (718) 938-9887.
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