Today we have a guest post from Cassandra Moon, who says you’re welcome to share her information with your clients.
Bringing Property Into the 21st Century
One of the best ways to increase the value of an old property is through renovations and upgrades. Not only do modern designs and amenities make a home more attractive to prospective buyers, but they can also lower utility costs for long-term savings. Even upgrades as minor as new insulation can help landlords and property owners save as much as 30% on energy costs.
Sellers can turn a profit on old properties by bringing them into the 21st century. In recent years, many historic buildings have been renovated to accommodate modern technology and aesthetics. For example, the world-famous Grand Parc Estate in Bordeaux, built in the 1960s, recently made internal and external upgrades to extend floor space and improve energy performance. The KPMG center in Dallas also renovated its floor plans to include modern amenities.
These days, both residential and commercial properties need to be outfitted with the latest amenities to fetch the best price. Though renovations may take an initial investment, the effort is often well worth it when it comes time to sell. Here are a few of the ways that property owners can modernize an old or outdated space to bring it into the 21st century.
Upgrade Old Fixtures
The first step to modernizing any old building is to replace fixtures such as fireplaces, lights and appliances. Property owners should upgrade to high-end, energy-efficient appliances for the best returns on their investment. They may even want to consider a smart home setup for each unit. It’s also a good idea to exchange incandescent and fluorescent bulbs for green LED bulbs.
Install a Wireless Network
Internet access is a must-have for most tenants, whether they’re renting a residential or commercial space. Property owners should ensure that their building has easy access to a Wi-Fi network if they want to turn a healthy profit. While some buildings can create a simple setup using routers, others need to run cables through walls that are too thick to send a signal. Property owners may want to consult local Internet companies to better understand the cost and logistics involved in upgrading their space.
To maximize profit on an old house or commercial complex, property owners need to bring it into the 21st century. Otherwise, they may be losing out on their property’s full worth. New utilities and technological upgrades can both help to raise the value of a space, giving owners the greatest return on their investment.
Updating older buildings to compete with newer communities can present a bit of a challenge, but the hurdle isn’t insurmountable. With a structurally sound building, property owners can increase a space’s value by investing in new amenities and modern technologies. Just a few minor adjustments can make all the difference between making ends meet and making money.