Realtors often say that kitchens sell homes, well, they also rent them. The kitchen is the heart of any home, and it is also one of the most expensive to renovate. There are many ideas for inexpensive kitchen updates out there, along with plenty of options to fit any budget. Join us as we look at some creative ideas to boost appeal in your investment property kitchen!
Inexpensive Ways to Update Your Kitchen Without Renovating
Kitchen looking a little drab and outdated? A significant renovation may not fit your goals or budget; however, a face-lift may be more attainable than you think. Even inexpensive kitchen updates can make a substantial impact on the overall style of your rental kitchen. Check out these DIY ideas below.
- Change the Hardware: Cabinets looking outdated? A simple swap out of old hardware for a modern and sleek look can transform the whole look of the cabinetry. Additionally, consider the finishes you choose. Opting for brass provides a warm finish while brushed nickel creates a contemporary feel. This is an inexpensive project that can be completed quickly.
- Install Open Shelves: Rustic open shelving has become a popular design trend over the past several years. Along with adding to the aesthetic of the walls, it also provides extra storage, which is a plus for any renter.
- Maximize Existing Cabinet Space: If you are short on cabinet storage, it is beneficial to make the most of what you have. For instance, adding shelf dividers, a lazy Susan, or graduated shelving to better organize cabinet space.
- Paint the Cabinets: Alright, this option requires a bit more elbow grease; however, the outcome can be well worth the effort. If new cabinetry is not in your budget, painting is a great way to freshen the appearance, hide imperfections, and create a stylish accent. Remember to use several coats for the best coverage and stick to a neutral color palette.
- Freshen the Walls: Steer clear of bright or bold colors when choosing paint for the kitchen. Instead, think about a calming neutral that will accent the flooring, cabinets, and backsplash you may already have. A fresh coat of paint can do wonders for overall appeal. A durable semi-gloss paint that can be wiped up is your best choice.
- Add a Backsplash: Nowadays, options are endless for easy to use DIY backsplash materials. Everything from stick on tile sheets to vinyl wrap can update the look of your kitchen while not breaking the bank.
Kitchen Upgrades for the Best Return on Investment
Kitchens upgrades are worth investing in if your budget allows. However, don’t go overboard! As a landlord, take a look at the competition in your area and compare carefully with your own home. From there, determine which upgrades and materials make sense for your rental goals. Rental properties see more turnover than a traditional and home and, thus, more wear and tear. Therefore, focus on durable materials that will hold up long term. Consider these upgrades below that require a bit more time and money, but may be worth it.
- New Appliances: White is out, and stainless steel is here to stay. Updating appliances come with several benefits included added marketing appeal and less maintenance. That said, shop smart! Look for sales and bundle packages that can save you hundreds. Remember that new does not mean it has to have every bell and whistle on the market. Keep it simple; keep it functional.
- Updated Countertops: You do not need the top of the line but look for a durable surface that will stand up well to a lot of use and cleaning. Neutral tones are best and seek out a natural stone or quartz countertop. Either of these options is seen as a vast improvement over laminate and tile options that age quickly.
- Reface the Cabinets: Not up for painting the cabinets or are they just too far gone? Replacing cabinetry can be very costly, but if they are still in good shape, just dated, consider refacing. Refacing is a more cost-effective way of modernizing the style of your cabinetry. After all, cabinets make up the largest percentage of visual impact throughout the kitchen. Source: Houzz
- Update the Flooring: Laminate, vinyl tile, and linoleum do not stand the test of time, especially in a rental home. So, if your budget allows, consider switching to hardwood flooring or a durable ceramic tile. They are easier to clean and are far more appealing to a wide range of potential tenants. Although these materials cost more upfront, they do not require as much replacement as less expensive alternatives.
If you are looking to invest in a rental property, or have one you need to market, take a close look at the kitchen. There are many options for inexpensive kitchen updates out there, along with plenty of options to fit any budget. Remember, for any remodel, prioritize and carefully weigh your options to ensure the best return of investment. Interested in learning more ways you can maximize your investment property? Reach out to an experienced real estate investment management firm today!