Performing ongoing renovations to your property is important. Occasional upgrades are a form of preventative maintenance, plus it keeps your property looking good.
You’re probably thinking constant upgrades will send you to the poor house. Upgrades tenants don’t need (and won’t pay more for), like granite counter tops, are indeed a waste of your money and time. But we’re here to debunk the myth that investing in your property has to cost a fortune.
Do you have $20 to spare? Then you can make any of these improvements:
Buy a Soaker Hose
A soaker hose looks like a regular water hose, but has holes all around it. During summers without rain (like many we have in Dallas), dry soil will cause cracks in the foundation.
Place the soaker hose around the perimeter of the property, and leave the soaker hose running to keep your foundation damp and to avoid damage that will cost you thousands to repair.
Change Outlet and Light Switch Covers
Dirty or cracked outlet and light switch covers can make an otherwise tidy property look dishevelled. Replacing each cover is a simple fix that costs next to nothing. You can pick up new covers from a hardware store for under $1 each – a small price to pay for a big improvement.
Related: 3 Mistakes to Avoid When Renovating a Dallas Investment Property for Profit
Install Water Heater Drain Pans
Water heater drain pans aren’t an upgrade that’ll make your home look pretty, but they serve an important purpose. If your water heater bursts, water will puddle on the floors and go through the walls causing expensive damage. A $15 drain pan will catch the water and help you avoid unnecessary repair costs.
Put Mulch in Flower Beds
It’s all in the details. A special touch like mulch around flower beds can improve your curb appeal.
Take it one step further: dig circle borders around your trees and fill them with mulch. It’s a low-maintenance job that’s affordable and looks good. Bags of mulch sell for around $4.
Install Kick Plates
Animals and other high traffic through the back entrance can do significant damage. Kick plates are an easy fix to prevent your door from getting scraped and scuffed. It also saves you from having to buy another one. Kick plates cost about $20 and you can find them at a local hardware store.
Related: How to Prepare Your Dallas Investment Property for the First Tenant
When’s the Right Time for Renovations?
It’s best to perform small upgrades when one person moves out and before another one moves in. If you have long-term tenants that renew, do renovations during inspections, so you can knock two birds out with one stone.
It’s also smart to stick to certain times of the year for renovations. Schedule them before summer and winter. Both of these seasons have harsh weather. Improvements like the soaker hose and mulch should be done in preparation for warmer months, so be mindful of that.
Need help deciding which affordable upgrades you can do to improve your property? Give us a call.