Apartment units are selling like pancakes these days. It’s a quick way to get substantial profit. Apartment rentals are also becoming popular since it’s very easy to look for vacant spaces nowadays. There are sites like Caprent that can help potential customers find the best apartments for Edmonton near me. At some point, you must have thought of joining the craze. You want to also capitalize on what you have and rake in instant cash to fund future projects.
But before you go into that, you should learn some essential tips and techniques. By doing so, you can get the most out of your property’s worth. Well, it all starts by adding value to your rental apartment. That is the only way you can drive interests and eventually, conversion. You need to make sure that the value you add is convincing. So how do you do that? Here are some practical and straightforward ways of increasing your apartment’s value.
1. Transform your Cellar
Putting your cellar into good use can generate up to 30% value added to your apartment. But you have to make sure that the build cost per square foot is lower than the rate per square foot of the area. Transforming your cellar does not have to be complicated as there is no need for planning permission. You need, however, to consult with your local planning officer if you’re going to decide on structural changes.
2. Create flats in the Apartment
Turning your apartment into flats is one of the best things you can do to boost your apartment’s rental value. It is actually in high demands and can easily be rented out. The potential added value also stands at 30%. Before you start with it, however, you must do some research to ensure that there is a market in your area. Take note. Do conversion if three-bedroom properties are not shifting, but smaller flats are.
3. Keep it Clean
Cleaning your apartment can be exhausting, especially when you will have a surprise guest and you are always away. There can also be some urgent booking anytime soon or you are too busy at work. Good thing, you can call an emergency cleaning service that you can count on to help you clean your pad. Make sure you keep your apartment unit clean so you won’t be experiencing distress or complaints from your guest.
Remember as simple as maintaining a clean apartment, you can increase it’s sale or rental value. Here are more helpful tips to keep your sanctuary clean without stressing yourself:
- Make It A Habit To Clean Even Without Guests
Learn the principle of clean as you go. Every time you do something, make sure to clean before doing anything else. It is a must to keep things neat, just like when you are doing meal preparation.
- Clean Little By Little Every Single Day
Cleaning your apartment little by little every single day is a must. If you put things in order, in their proper places, then you will have less waste. Also, make sure to take out your garbage every day, do not let it stay in your property overnight, so to lessen your stress.
- Start Decluttering
Look at your stuff now and start decluttering things. Check out the things you are still using and the things you haven’t used for more than six months already. You can donate your stuff or sell it in your garage. Decluttering can also be a stress reliever especially if you want to live in a minimalist style.
- Avoid Buying Unnecessary New Things
When you are ready to declutter, the next thing to do is to avoid buying new things. Maintain what you have inside your pad and if you need to purchase something, think thrice before doing so. Ask yourself if you need that thing or if you will be using it for the next couple of months. If you are not planning to use it for an extended period, and just for one-time usage, then don’t buy it now. Buy it until you need that stuff.
- Keep Things Organized
Make your pad organized; make sure there are places for everything. Do not mix things up as it will stress you out once you see a pile of unrecognized stuff. If your apartment is organized, you will quickly see the things you need without spending too much time in finding it. You will also have less time to clean.
4. Add a Bedroom on the Loft
If you have an empty loft in your apartment, why not transform it into a bedroom? That could give a whopping 15% to your property’s value, especially if there is an added bathroom. Converting a loft, however, is quite technical so better to consult an architect or builder to advise you before starting. During the planning, consider identifying the types of conversions available. To make things budget-friendly, you can do a roof light conversion since it entails the least amount of structural work. It is, therefore, the most cost-effective method if compared to a more expensive mansard conversion.
Now, those are just some of the ways on how you could start improving some components of your apartment unit to boost its value. Good thing, you can do all that without breaking your bank. In other words, you can apply them at minimal costs but at optimum returns.