Property Refurbishment and Presentation for the Market
Property refurbishment can encompass a wide range of works and it is advisable to tailor the works required to the use of the property. If you are going to let your property then it is essential that it is presented well and looks modern and fresh.
This maximises rental income and reduces void periods and can help property sell. When deciding what work to carry out you should consider the market that you are appealing to and prepare the property accordingly. As a result, if your target market is executives you will need to provide very high spec accommodation, whereas if you have a family home next to good schools the focus should be on robust fixtures and fittings that are modern, practical and serviceable.
It is easy to fall into the trap of refurbishing the property in a manner that suits your personal taste and circumstances. However, in general, if you are preparing a property for the market décor, should be a neutral blank canvas that new occupants can personalise themselves, with enough detail to make it appealing and photograph well.
If you or a family member have lived in the property it is much more difficult to look at it objectively and it is worth getting advice from someone not personally involved. For example you may love Aunty Jeannie’s ‘antique’ dresser but potential purchasers or tenants may see it as a cumbersome obstruction to modern living. It is also worth de-cluttering so that the property can be seen at its best. In addition pieces of high worth, whether financial or sentimental should be removed before letting as tenants will be unlikely to give them the same consideration as the owner.
In general, improvements should be reflective of the value of the property so that your investment can be recovered when the property is sold, or through the increased rental income and shorter void periods
Improvements you may wish to consider.
- Gas central heating – this is usually much more attractive to potential purchasers and tenants than electric heating.
- Kitchen replacement – in some instances where units looked dated but are in good condition replacement doors may suffice.
- Bathroom replacement – a shower is now considered essential. It is quite common in new build flats to have an en-suite shower but the main bathroom without a shower. As tenants in particular will not want to go through another tenants room to use the shower we would always recommend a shower is fitted above the bath where a property is let. This can be done very cost effectively and will definitely mean that the property is much more attractive to tenants than would otherwise be the case reducing void periods.
- Redecoration – Repainting a front door and installing new door ironmongery may give a good first impression and be worth the outlay if the internal presentation is good.
- Replacing fencing and tidying the garden area. – This will again improve first impressions and ensure the garden is maintained in future when the property is let.
- Re-carpeting or renovating wooden floors to improve presentation – this will help the marketing of the property. It should be noted that although wooden flooring is very attractive, proper insulation between floors is essential for the letting market, especially if you have neighbours living below. It is now a requirement that HMO properties are carpeted and that they do not have wooden floors for this reason.
- Installation of mains wired smoke detectors – a legal requirement for newly let property.
At Watt Property Management we can arrange the refurbishment of your property to ensure that it will be attractive to your target audience.
Whether you need a new bathroom or central heating installed, or a full refurbishment, we can make the necessary arrangements. You may have definite ideas as to works that you would like carried out or need help to determine what is required in which case we are happy to provide advice.
Our flexible service means that we can accommodate your requirements. We have an extensive network of tried and tested contractors giving you peace of mind that work will be carried out to a good standard.
If you have a tight budget small alterations may make a big difference to the presentation of the property. For example for let property we always dress a bed with bedding as it lifts the whole bedroom and greatly improves the photos making it much more attractive to would be viewers. We have also greatly improved a white bathroom suite by replacing a dated high level plastic toilet cistern with a modern equivalent.
Call us on 0131 555 2777 today to find out how we can help you prepare your property to best advantage.