In real estate, not all renovations are equal. It’s tempting to upgrade everything; however, smart investors focus on improvements that will boost resale and rental value to maximise return on investment. It’s important to focus on features that are in demand for the market and the location of the property to maximise relevance, which can lead to high attraction from potential buyers and renters. But in this market, what are the smartest upgrades that you can make?

This guide of 4 smart upgrades to add value to your real estate investment will recommend the investments you should make to deliver strong returns.

First impressions – Exterior and entryways

First impressions set the tone for potential buyers or renters. This highlights the significance of upgrading the exterior and the first port of entry of the property, as these features set the tone for the rest of the home. Some of these upgrades may be relatively low-cost but often have a great psychological impact. Here are some high-value upgrades that made a big impact:

• Fresh exterior paints or fresh grouting.
• Landscaping and the addition of low-maintenance shrubs and planting.
• Modern front doors without door lighting or CCTV.

Kitchen and bathroom updates

Kitchen and bathrooms can be the stars of the home for many buyers and renters, making them a make-or-break deal. By adding small additions and upgrading what is most important for buyers, you can yield high returns with minimal effort. Here a a few upgrades that can wow potential buyers:

Kitchens:

• Replace outdated hardware to modernise and add style.
• Upgrade countertops with quartz and granite for aesthetic and longevity.
• Add energy-efficient appliances that will save the future homeowner on costs.

Bathrooms:

• Refresh tiles, taps and lighting to modernise.
• Repain and regrout to create a fresh look.
• Install water-saving fixtures to add money-saving value to the property.

Spatial additions and flexible spaces

Maximising spatial usage and creating adaptable living spaces is popular in the current market, especially post-pandemic. This means that anything that can be added to make spaces feel bigger or allows you to change around a space easily is very attractive for potential buyers and renters, adding further value to a property. Here are some additions that can add maximum value:

• Adding plants and decking to outdoor spaces increases living areas and is especially sought after in hotter climates.
• Adding extra storage or built-in shelving.
• Adding conservatory conversion or extensions massively increases floor area, adding huge value.

Smart and efficient home features

The trend in the market shows that tenants and buyers prioritise technological integration and energy efficiency not only for money-saving purposes but also for eco-conscious buyers. Not only will that attract potential buyers, but it will also create a higher return on investment as it adds value to the property. Some of these features include:

• LED lighting and programmable thermostats allow for energy efficiency but also convenience.
• Energy-efficient windows or insulation also allows for further energy efficiency for buyers, creating more attraction.
• Smart locks and security systems create safety for buyers or renters, adding value.

Invest smart, upgrade smarter

Invest smart, upgrade smarter. It’s crucial to focus on strategic upgrades that will deliver the greatest return on investment. Whether it’s a simple upgrade you can tackle yourself or a larger project that requires professional help from experts like CI Group, it’s an investment worth making.