Investing in real estate is a great way to add diversity to your investment portfolio and give yourself the chance to make some real money. However, many real estate investors understand all too well the common saying that you have to spend money to make money. In order to get the biggest return on your real estate investment, it’s often necessary to invest in the look and feel of your investment property.
While the interior of the home usually gets the most attention, the exterior of the home is just as important when it comes time to sell the property. So to help you as an investor get the largest payoff for your property, here are three ways you can update the exterior of your home to make it more appealing to buyers.
Give Your Driveway A Facelift
The driveway is generally the first experience your buyers are going to have with your property. This is because they see and feel the quality of this area of your property before they even exit their vehicle. For this reason, it’s crucial that you spend the time and money necessary to give off a great first impression here.
Jennifer Noonan, a contributor to BobVila.com, shares that some of the most popular ways to update a driveway include using materials like stamped concrete, pavers, shell, brick, and more. To give your property even more personality, you could also use things such as grass or recycled materials as well.
Adding Stone Features
One of the basic design principles for homes, according to Shelley Little—a contributor to Freshome.com—is that the exterior of the home should aesthetically match the interior of the home in design. While this makes sense to most people, actually implementing this principle can be a little more difficult.
A recent trend in home design is to use natural stone within the home in various ways. If this is something that is accented in your home, you may want to consider adding stone features to the exterior of your home as well. This can be done by creating stone columns, stone landscaping features and more. Don’t be afraid to think outside the box when using stone around the exterior of your investment property.
Get Fancy With Exterior Details
Many homebuyers in today’s market are looking for charm and originality over traditionality. To appeal to this tendency, Jeannie Matteucci, a contributor to HGTV.com, suggests installing exterior trim and molding to create a unique and beautiful design feature on the home. This could include gingerbread trim, gabled pediment, dentil molding and much more. Consider the area in which you live and the original design of your home to help you pick the best option for your property.
Making small but smart exterior improvements can really help to increase the resale value of any home, be it an investment property or not. Use the tips mentioned above to find the perfect update for your property to help you get the financial return you’ve been looking for.