5 Effective Upgrades to Add Value to Multifamily Units
The NAHB reports that while there will be a slow decline in the construction of new multifamily properties, the residential renovation activity will see a growth of nearly 5 percent in 2016-17. If you already have plans to hire a housing renovation contractor in TX or any other area to add value to your multifamily units, there could be no better time than now. Give that aging property a makeover to ensure a steady flow of potential tenants. There are many upgrades that add value to the property and provide tenants a luxurious life in their abode.
We list the five trending remodeling upgrades in the blog post. Read on.
1. Flooring Upgrade
Flooring is one of the major concerns when upgrading a multifamily unit. Most owners choose hardwood flooring for its durability and natural beauty. Hardwood flooring, something that is standard in most single family houses is now becoming a favorite in multifamily units as well.
2. Kitchen Upgrade
The kitchen is the heart of the home, and it should be as trendy as the living room or any other important space in the house. Consider installing granite counter tops and birch or dual-tone cabinets to enhance the appeal of the kitchen.
3. Bathroom Upgrade
A bathroom is one of the main factors that influences the renting decision of tenants, so do not compromise on quality and style when upgrading this area in the unit. Change the tiles and install faucets and showers that match the walls. You can replace shower curtains with a glass cubicle to make the bathroom look clean and stylish.
4. Rooftop Area Upgrade
The rooftop area could be turned into a deck that provides a mesmerizing view of the city and gives your tenants a place to unwind. Make a lounge on the roof and choose stylish furniture to give it a luxurious feel. If you don’t wish to turn the roof into an open lounge space, we recommend installing energy sustainable roofs that have solar panels and vegetation to generate energy and provide better insulation to the structure.
5. Landscape Upgrade
Although expensive, landscaping is the first impression of a multifamily property. The open areas have a big impact on the rentability of a residential community, and it is vital that you add this upgrade in the renovation plan. Using reusable materials will make landscaping more affordable. For example, use old shingles to make pavements in the garden area.
There are more ways by which multifamily owners can upgrade their property to align it with the demands of tenants. Hiring local contractors to remodel or renovate multifamily property is often the right approach to get the most out of your real estate investment. If you are looking for a reputable and experience housing renovation contractor in TX, get in touch with United Renovations. We are a team of dedicated professionals helping multifamily owners achieve their renovation return on investment goals. To learn more, call us at (972) 432-6922 or fill out the contact form. You may also write to us at firstname.lastname@example.org, and one of our executives will get back to you shortly.