Real estate is hot right now, and it’s a fantastic time to invest. Unfortunately, it can be difficult to decide what details are important when looking at properties and which can be easily fixed.
These are the top features anyone should keep an eye out for when considering an investment property: and why they matter so much.
1. A Garage That’s Made to Last
Every garage seems to be put in as an afterthought, with only 63% of homes having a garage or carport, and even fewer of those having a finished one that looks good and is as functional as you could need it to be. Look for details within the garage, like epoxy garage floor paint, that show the previous owners took care of the property and wanted it to last.
A newer garage door is also a fantastic detail, but if they haven’t added one, you can replace it yourself; this project has the highest return on investment than any other.
2. A Location That Buyers Will Love
The location is king, so make sure it’s in a good spot. This needs to be an area that’s close to possible work and jobs, while also near restaurants and entertainment. If you want to invest in a larger home, try to find one near a good school area where families will want to move and bring their kids.
You can’t change your location once you buy the property, so it’s vital that you pick one that has a location you’ll want to use.
3. Siding That’s Newer
The siding on a property protects it from endless issues like moisture, insect life, temperature fluctuations, and more. It’s important to find a property with siding that was applied in the last ten years and is high quality while also looking good. Consider board and batten siding options, since this style is one of the most popular in recent years, and pay attention to details like whether it’s showing any warping or issues.
If the siding is applied poorly, like the screws are too tightly put in, it will crack and warp worse than older siding. Keep an eye out for this while you’re property shopping.
4. Low Maintenance Lawn and Exterior
The lower maintenance of the lawn, the better. This is especially true if you’re planning on renting this property out. Renters don’t want to have to buy a hundred machines to take care of a lawn that’s not theirs. Instead, try to find a property that needs as little lawn and maintenance care as possible. This will give your renters something they can make look nice easily, and it’s something you can maintain between tenants without much trouble.
5. A Fantastic Roof That Works for You
How old is the roof on the house you’re looking at? The older the roof, the more trouble you’ll have down the line. An old roof can lead to leaking, mold, insect infestations, and more. On the other hand, replacing a roof right after you purchase the property is going to be expensive as well. Try to find a property with a newer roof made out of a long-lasting material like composite roofing. This type of roof is set to last for fifty years, which will allow you to spend a lot of time not having to think about it.
6. Details That Allow it to be Energy Efficient
Energy efficiency is a must in the modern-day! This is especially true if you’re going to allow people to rent your property. Telling them the house they’re moving into has some energy-efficient qualities will ease their worries about higher rent or issues with heating and cooling.
These details can be items like soffit panels, new insulation, a smart thermostat, solar paneling, and tons more that depend on what properties you find. Try to find a home that’s already energy efficient that you can boost further in small ways. If this means installing your own smart thermostat to boost the green rating, that’s a great way to add more value!
7. New and Sturdy Windows
The windows on a property can tell you a lot more about it than you’d expect! From how updated it is to how bad the energy bills must be, you can get a lot from just looking at these. When looking at properties, try to find ones that have already been updated to storm windows within the last ten years. These newer windows will protect your investment and ensure that no storm breaks through while also keeping out any temperature fluctuations, so the energy bills will be lower.
Your Investment Needs to be a Smart One
Whether this is the first time you’ve invested in real estate or you’ve done this multiple times: it’s vital that you pick the right property to put your money into. Consider these features when looking at your next possibility.
Sam Willis is a contributor to Innovative Building Materials. He is a blogger and content writer for the real estate industry. Sam is focused on helping fellow homeowners, contractors, and architects discover materials and methods of construction that increase property value, maximize energy savings, and turn houses into homes.