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Commercial property renovation hacks that add value

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As an investor, you want to be up-to-date with market trends and find ways to bring in tenants to your commercial properties. If they’ve sat bare for a couple of years, and looking dates, then it’s time to get renovating. We have a couple of hacks so you can focus on the right areas, where you can make the most money off your depreciation schedule.

 

Bathrooms

Not just any type of bathroom with a few toilet stalls and basins; looks definitely matter. Offices, shops and restaurants are becoming fancier with their designs. Even gyms have bathrooms worthy of an interior design featurette.

A gym shower and sauna in the USA

Bathrooms are major selling points for tenants in both residential and commercial property. Natural wood elements and lighting paired with neutral tiles is a common combination that never fails to impress. If you own an office block and have the room, fully equipped bathrooms are an excellent selling point. Workers often hit the gym before they make their way to the office. They’ll need a place to freshen up before the day ‘officially begins’.

 

Kids play area

Employees have families, as do potential visitors. And not everyone can bring in a babysitter or find a daycare. Having am on-site kids play area in a commercial property isn’t that unusual. Shopping centres have done it before, and the trend is slowly spreading to gyms and workplaces.

 

Kitchenette

Definitely a feature that will attract tenants. They need a place to keep their food, make their coffee and take a break from their desks. The kitchen is where you can make money in terms of the plant and equipment items in place there. This includes the dishwasher, espresso machine, microwave, sink and fittings.

Outdoor entertaining

Humans need sunlight and fresh air; what better way to access it at work than an outdoor area? When you’re renovating the property/making an extension, turn the extension into a patio with some hedges, a barbecue and some outdoor furniture. The barbecue and the furniture can be depreciated.

 

TVs

Yes, we are giving you an excuse to go out and buy some big screen televisions. Modern properties have a showreel on their TV screens, usually placed in the foyer and meeting rooms.

 

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Residential properties that guarantee an ROI

8 amazing home builds and overhauls from around the web to inspire your investment property renovation

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Are you looking at the type of investment property you can ‘fix-up’ and flip for a profit? Or even turn into a rental? There’s hundreds of thousands of design pages, and just as many websites and blogs,  it’s difficult to filter out the noise. We’ve compiled some of the best ideas.

 

Curb appeal

Bringing Elements Together

This new home in Geelong brings different materials together to create a stunning facade. When you’re renovating your investment property, or building from scratch, look at the curb appeal of the other homes in the neighbourhood and see what you elements  can mimic…if not do better.

Lounge

Living Room Inspiration by HiPages

The lounge/living area is where your tenants will end up at the end of a long work day. They’ll kick up their feet, put on the Foxtel and spend the night in with a movie. Wood and concrete are hardy materials, though carpeting and rugs are more comfortable to walk on. You can change the finishes depending on the lifestyle and type of tenant you’re marketing to.

Dining/Kitchen

Galley kitchen designs to inspire a kitchen makeover

The heart of the home. Family members and visitors spend most of their time in this space. It’s also the most highly judged of the rooms in the investment property. Don’t scrimp on the paint or finishes. The space is meant to be functional, but also make it warm and welcoming, like this galley-style kitchen. Many modern kitchens have an island bench and an open-plan design that flows seamlessly to the dining area.

Master Bed

5 incredible house design ideas & images from Real Estate

Prospective buyers look at kitchens and bathrooms for value. Bedrooms, though, should never be overlooked. Master bedrooms are meant to serve as a sanctuary, preferably with an ensuite like this one above in Flinders House, Victoria. You can claim depreciation on the new fixtures when you renovate the investment property.

Bathrooms

Bathroom Ideas – Bathroom Designs and Photos by Real Estate

Rainfall shower heads, deep bathtubs and heated towel-racks? Tenants have high expectations and they’ll look right over your investment property if it doesn’t stack up.

 

Second Bedroom

Create an inviting guest bedroom

The more bedrooms, the higher the rental income! Your investment property might cater for roommates, couples, or a three-person family. But make the bedroom styling neutral. This way you can appeal to the maximum amount of buyers. Jo Carmichael from HomeLife has some useful tips in this article.

 

Study

Before & After: A Whole New Look for a Home Office

Simple, yet functional. If your investment property has an extra room, turn it into a home office. This is great for working parents and people who need an area to work on homework and projects.

Outdoor living

Affordable Sydney Patios by Houzz

A patio, balcony or a backyard is part of the australian way of life. If you have outdoor real estate, use it. Spruce it up with some new lawn, paint the fence and design it in a way so that it flows from the kitchen/dining area. INDESIGNS from Sydney has managed to pull this off in a Scandinavian-style cottage, complete with a kids cubby house. You might not put one in for your tenants, but it certainly adds character.

Garage

How to declutter your garage by Real Estate

Even this part of the house needs some attention. You mightn’t need to renovate it, but it’ll need a good clearing out. The tenants in your investment property most likely drive and the garage needs to have room to fit at least one large vehicle. This area also doubles as a storage space and adding shelves with help with functionality. Don’t forget about curb appeal; the exterior of the garage is always visible from the street.

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