Landlord
When it comes to buy-to-let property renovations the are some improvements that are worth the value for money and there are others that most certainly are not and be better left undone.
Here are some key points when renovating your buy-to-let properties that are better left undone.
1. Repairs that will not increase the value or have a poor return of investment.
Here are some renovations that have a poor return of investment.
- Laundry
- Above-Ground Swimming Pool
- Professional Office
2. Fixing the property too much
Too much fixing the property may not be good for the property. This is of the mistakes that buy-to-let investors do. If the property is a luxury house, then going all out is okay but most rentals particularly for the professional working class don’t need anything near that. They just need the place to be nice and functional, not spectacular. But of course, it’s important not to use crummy materials.
3. Upgrades that don’t fit the property
People love light-filled homes especially natural light, but they are not going to pay for expensive lighting upgrades. So, there is no need to spend on costly lighting fixtures that will not add value to your home.
4. Upgrades that provide headache
Some upgrades are nice, but they usually provide headaches especially for rentals. One of which are skylights. They look nice but they are notorious for leaking when it rains. Moreover, they can cause draftiness during winter and overheat in summer.
When it comes to renovating your buy-to-let property, you should always ask yourself, what would you want if you lived there.
You can make or lose money at any stage of the process of your investment property. The most common place where investors turn a good deal into a bad one is with a botched renovation. Finding good contractors and managing well are important. Also, it is essential to put together a good scope of work for the property renovation
BLUESTONE PROPERTIES
We provide lettings and property management services. We are based in south London. To know more about us and how we can help you as a London landlord, call us on 0208 355 3405 or simply contact Bluestone Properties.
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