Get the Biggest Bang for your bucks in your remodel | Property Management Services
What do you do when you only have a little bit of time and money to spend and you want to make your property stand out. This is something we face every day in real estate management and sales. We are often challenged with advising and coordinating remodeling projects quickly for Home Owners to help their property perform better and get top dollar whether the property is for rent or for sale.
I am sure there is more than one way to skin a cat but this is how we do it. Before we start any project the first thing we do is make a plan. You know what they say, fail to plan and plan to fail. I start a new project by walking through the property and create a list of must do maintenance repairs and a list of suggested improvements.We put this list into a spreadsheet so it is easier to track and compare estimates from your various vendors. Then we start getting prices. You can use the list and the spreadsheet to send a request for an estimate to your trusted vendors and record the info on your spread sheet to easily compare.
Now that you have your punch list of things to do and your prices it’s time to prioritize. I like to start with the General “must do” repairs first. These are the things required by building codes (electrical, mechanical, plumbing, HVAC etc) as well as uniform clean blinds on windows.
Appliances
Next comes the appliances. Nice up to date appliances are one of the top “bang for your bucks” dollars you can spend. People love nice appliances. Often a minor upgrade on appliance models pays for itself in increased rent and better quality tenants.
I bet your bisque appliances are already giving you the blues. If you are remodeling your home, it isn’t wise to settle for drab. There are easy ways to spiff up your existing appliances without digging too deep into your pocket. But if your appliances are beyond repair, then it’s time to look for new appliances to purchase.
Before you begin your shopping trip, remember that unlike a rug, lamp or hat, you cannot simply take your defunct appliances back. As you buy new appliances for your home, learn from others’ mistakes. Your friends will be all too willing to share their appliance-related delights and bitter disappointments with you, so just listen to them. Ask them which features please them most, and how their appliances have had them call for repairs.
It is also important to make sure that you don’t make an impulse buy when you purchase your new appliances. Make a list of your priority features so you know what to look for when it’s time to shop at the appliance store. You may also come up with a list of competing showrooms and retailers so you can compare them when it comes to features and prices.
Another important tip for shopping appliances is know your needs. Do you need a fridge that is so narrow? How about a bottom-mount freezer that requires constant bending over? Your neighbor bought a supersize washer, and it was on sale! Do you really need to rush to the appliance store to buy one for yourself? Do you really need it?
You will be surprised to know how many intelligent people order appliances that do not really fit in their space. Before you buy appliances for your home, think about the ways to access the sections of your home. Do appliances need to pass through a narrow doorway to get to the living room? Down a hallway? A set of steep stairs? If possible, bring a map to the showroom with every single angle and dimension so the salesperson will be able to estimate if the size of the appliances you are planning to buy fits your home.
Although you are buying appliances to remodel your home, remember that it is never enough to fall for a pretty face. Consider the price, too. Many dealers will match the lowers price offered by the competition. If the price is still too high, see if you can negotiate a deal by purchasing more than one appliance at a time. When all else fails, ask for free delivery and installation and don’t forget the warranty. Get ready to haggle!
Paint
Then comes paint. We like to use latex on the walls in a color called Warm Putty. It’s a light tan/beige color and we use satin white on the trim. This creates a really nice contrast and modernizes the look.
Just a few tips to make your next paint job a success. First, make sure the weather is dry before you paint. Humidity means drips and slow drying, so make sure you don’t paint on a rainy day. Also, do a thorough visual inspection and preparation before you paint. Any cracked, flaking or peeling areas must be lightly scraped before primer and paint are applied. Otherwise, the weight of the new coat will only pull the old paint loose. If you spot some greasy spots, you may also need to wash them with soap, followed by a rinse with clean water. You may also give your walls a quick wipe-down with a damp cloth so the paint will have a dust-free surface to stick to.
If you want great paint for your home, don’t pinch pennies. Invest in good brushes and roller covers because they give excellent coverage. By using them, you don’t waste time and paint on re-application. Make sure that you also protect everything that you don’t want painted. Take it from me, you will never regret the time you spend covering floors, furniture, and hardware before you begin your paint project. Drop cloths are always a must if you want to protect areas of your home you don’t want to get painted.
You also need to remove light switch and outlet covers. Don’t be tempted to skip this five-minute step!
Another tip I can give you is use primer. Paint and primer combinations are fine if you already have a clean, smooth surface, but if there are still issues with the wall, go with a separate primer to cover an especially challenging surface. For best results, use premium paints and let the roller do the work. Make sure that you use an extension pole so you can reach the maximum amount of area with the least effort.
Once you have already cut in your edges at the ceiling and baseboard using brush, use your roller to paint the ceiling downward. If you want your paint project to look like it’s done by a pro, don’t make the mistake of making drips and spatters. Work your way down the wall.
Flooring
Now for the new flooring (this gets done prior to painting but this list is in order of priority of where I’d spend money first.
The grade of flooring should match the type of home. For instance if were talking about an upscale home you’re going to use nice upscale flooring but if were talking about a mobile home then there are cheaper alternatives that these days look really close to the real stuff.
For middle of the road cost I like to use vinyl plank flooring in all the common areas including the bathrooms and kitchen. It is waterproof but cheaper than laying tile. You can do it throughout the entire home but I find people tend to like carpet in the bedrooms. However if this is for a rental property I would stick with the vinyl plank throughout because in the long term, it wears longer and smells better. When replacing carpet I like a neutral tan flecked Frieze. It is the new shag with lower pile height. The different color flecks will help hide dirt and small stains.
Other fixtures
The next place I would spend my money would be light fixtures, bathroom mirrors/medicine cabinets and then plumbing fixtures (in that order).
If you can swing it, new counter tops over perfectly good older cabinets in kitchen and baths and your basically done! I wouldn’t try to save the old sink and plumbing fixture unless it’s fairly new. It’s really hard to make the old sinks and plumbing fit once the vanity top is replaced. The above picture is new counter tops on top of older existing cabinets in a property we recently flipped and sold. It also shows the warm putty paint and the vinyl plank flooring. You can see the full before after video here.
Oh wait! Don’t forget your curb appeal. I know everybody says that and that’s because it’s so true! Some mulch and fresh flowers out front make a home look and feel cared for. Time is money so you want to make sure after spending all of that time and money that you don’t cut yourself short on the curb appeal. If your future occupant pulls up to a trashy front yard it will set the tone. However, if it’s clean and well maintained throughout, people will pay more for it and it will move quicker saving you money.
Feel free to check out our other maintenance corner articles or see the related posts below. You can also sign up for our monthly newsletter. The subscription form can be found on this page in the sidebar to the right. Just scroll to the top of the page and you will see it. Our newsletters are chock full of tips, recent and upcoming events, things that are happening in the community, good will endeavors, property management service information and fun news and updates about our company and the people that make it happen!
No need to look at a list of property management companies! If you are interested in Gainesville FL Property Management please contact us. We can be easily reached here on our website by completing the contact form above on the right. You can also email us at [email protected] or via phone (call or text) 352-478-8029.