When you’re in the middle of an investment renovation and you’re bleeding money for every single moment that you own the property, it can be easy to want to cut corners and save money on certain tasks. For this blog, I wanted to spend some time and lay out some advice on what you should not skimp on during your renovation and why.
6 Upgrades NOT to Skimp on in Your Investment Renovation
Stone countertops
the upgrade that these feel like in a space is worth far more than the upgraded cost from laminate. The durability, look and feel is obvious as soon as you walk into the space and your property will in turn be elevated in the potential buyers eyes. ***I do have one caveat and that is that if the property is not worth more than $150k renovated, I would not install stone countertops. This blog is created for the greater Nashville, TN area and properties such as these are hard to come by.***
Matching outlets and switches
These changes are some of the easiest to make, and therefore easiest to forget. Any handyman or contractor worth their salt will handle the change out with no issue, and it makes the entire renovation feel much more complete and well thought out.
Utility and fixture placement
It is imperative that you consider the future use of the space while determining locations of the lights, fixtures, plumbing stubs, outlets, etc. Failing to plan means that you are planning to fail. When buyers walk into a space they need to be able to imagine their own furniture in your property by the way that you use fixtures and utilities.
Drywall finishing
Find a great drywaller and painter. You can have the most brilliant, efficient and immaculate space and if your finisher and painter were in a hurry none of it will matter. The good ones stay busy, work fast and know what you need. Find a good one and keep them happy with a small bonus here and there.
Matching doors and trim
Having matching trim and doors can be an expensive and time consuming undertaking, but much like so many of the other items on this list, if they’re not done none of what you spent the most amount of time on matters. A beautiful bathroom won’t matter if the door is different than the closet door right next to it. All people will see is that they don’t match and that you as the investor stepped over dollars to save pennies.
Landscaping
You want curb appeal that will invite buyers into your beautiful new space. Don’t skimp on landscaping thinking that it doesn’t matter, because it does – A LOT. A young garden is better than dirt and will grow in time.
There you have it: a short list of items that you absolutely should not skimp on. Don’t shortcut. Don’t waver. These should be considered non-negotiables in your renovation and while creating your budget. Make sure that when you’re vetting your contractor that you know these are handled in their estimate and that they have allotted time for their crews to handle these items. Ask to see proof of their work elsewhere where they have proved that these are part of their procedure for turning over a project. You’ll be glad you did when you are proud of the product you’ve turned over.
