Many homeowners and rental investors look for home upgrades to justify charging higher rent to their tenants. Unfortunately many of these improvements are front-loaded in their expense. Such a price is willingly paid…granted that confidence exists that such an investment will indeed yield a larger payout over time.
Although no single addition is guaranteed to allow for higher rent to be charged, there certainly are trends that exist in high-end homes that make them…high-end. Listed below are three of the upgrades often associated with top-tier rentals, all based in the hallways of a home.
1. Door & Entry Moldings
A classy home shows its quality even if it’s empty. Have you ever looked into a completely empty room? In a classy home, you see shutters, moldings, fresh carpet, aesthetic paint choices. In a less-than-classy home, you see…very little.
Door moldings are an easy way to spruce up a room and increase value without breaking the bank, or having to hire a professional. Classic styles of molding can be easily purchased at a hardware store, as can caulk and/or mounting glue.
Of all the suggestions made thus far, baseboards may quite possibly carry the most ‘bang for your buck’. The human eye naturally spots areas that seem ‘unfinished’ in comparison to the rest of the house. The crack that shows at the floor-to-wall transition is an eyesore of an example.
Baseboards do not require high-quality wood, nor are they high-volume, which yields an inexpensive price. Furthermore, because baseboards are not weight-bearing, and simply rest on the ground, they can typically be glued rather than nailed or screwed…a much easier installation.
3. Window Drapes
If you were to close your eyes and picture window drapes in your mind, where do you see them? In a fast-food restaurant? A split-end home? Cheap apartment? Of course not…you’d envision a mansion, an executive office, or…an elegant home. Enough said.
4. Crown Molding
Although requiring more effort to install than baseboards, crown molding also yields higher value. It’s simply a mark of a high-class home, hence the royal reference via ‘crown’.
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