You know that feeling you get when you walk into a shop or restaurant and it feels expensive? It's like your brain automatically accepts that you'll pay a premium rate purely from how the space looks and feels. Well, the same concept applies to your rental investment, and creating that feeling doesn't have to cost you an arm and a leg; there are plenty of ways you can attract a premium rate for your investment without breaking the bank.
Let's get into it!
Simple yet effective
The most obvious out of the recommendations, but it's well worth mentioning. You won't believe how much a simple coat of paint can instantly transform a space with little cost.
Opt for neutral and modern colours for maximum appeal; neutral tones create a blank canvas for renters to envision their decor, making the property feel fresh, stylish and inviting.
You don't have to splash out on high-end paint either; you'll likely have to paint in-between tenancies at some point, so we advise finding a high-end paint colour you like and having a snoop on Dulux for a dupe.That way, you'll get a high-end look for a fraction of the cost.
Whether you go full DIY or hire a painter, for such a minor investment, it's undoubtedly worth it.
Fixin' The Kitchen
We get it, we're no strangers to the major costs associated with revamping a kitchen, but sometimes a complete kitchen overhaul doesn't have to be on the cards to impress residents. Consider budget-friendly upgrades like replacing cabinet hardware with modern handles and knobs.
If you're working with pretty worn-out kitchen cabinets, sometimes a decent lick of paint will give the space a massive facelift. Although, before you grab your paintbrush, it's worth checking that the cabinets aren't lacquered and will successfully absorb the paint.
We always recommend tile splashbacks. Why? So you can avoid the hassle of constantly having to repair and redecorate your kitchen walls between tenancies. Tiles always offer impressive durability, so for the investment of around £700, it's worth considering; find some tile backsplash inspiration here.
Bonus tip: consider opting for dark grout like grey or black to avoid the cost of a future regrout easily.
Make the switch
Features like light fixtures may seem small to overlook, but they can make a massive difference. Outdated or worn-out lighting fixtures can make a property feel drab and unappealing.
Swap out those old fixtures with modern and stylish alternatives, you can find affordable ones in places like IKEA or B&Q, and for a small cost, you'll make your property much more inviting to quality residents.
Stepping Fresh With Flooring
Hear me out; we know that replacing flooring (especially when dealing with tiles and wood) can be a costly occasion, but it doesn't have to be.
There's no reason why you shouldn't be using cheaper alternatives like laminate flooring or luxury vinyl flooring to achieve that fresh, high-end look.
Trends move fast, and the flooring companies that have caught on produce fantastic cheaper options to make your investment look like the real deal. Plus, you'll save a lot of cash from replacing dreary worn-out carpets and scratched wood flooring. Opting for a laminate or vinyl is the way to create a premium finish at a decent price.
Shower Some Love On The Bathroom
Now you can achieve a few small wins when dealing with bathrooms. First things first, mirrors. London rental flats are notoriously known for being a bit tight; installing a mirror is a great way to add light and a feeling of space to the room; you can even opt for a mirrored cabinet which is a great way to add a little extra storage for your residents.
Consider upgrading old faucets and cabinet hardware with more luxurious options in brushed nickel or matte black finishes. These small details can make a big difference in giving the bathroom a high-end feel, and you can find them at an affordable rate in places like Screwfix.
Vanity cabinets are a big one, too; opt for a modern option; vanities with clean lines and a contemporary design instantly elevate the look of a bathroom.
Bonus tip: head to your local Builder Depot and ask about any discontinued ranges; you'll be sure to find a discount you can't refuse.
So there you have it; it's the little things that can make all the difference to your rental home.
Ultimately, a home that looks invested in and well thought out will always attract a higher quality resident, paying a premium rate and willing to stay a lot longer.
For further support on how to maximise your return on your rental investment, contact our in-house refurbishment team, and we'll advise you on how to get your investment working harder than ever.
Whilst you're here, why not check out "Paramount Refurbishments" and our latest "Refurb Success Story"