The population on the Front Range is booming. As a result, so is the housing market. Every time you turn the corner, there are more houses being built and people moving in. Rental rates continue to skyrocket to an all-time high here in the Rockies, confirmed by rentcafe.com – with the average monthly rent surpassing $1,500 on average. You might be wanting to take advantage of the current market conditions by listing your property for sale- or renting it out for some extra income. In order to maximize your return in either case, you will likely want to take a look at your property and do some renovations or repairs. Here are some tips -pulled from It All Started With Paint- providing some ideas on the best renovations and repairs to consider before renting or selling your place.
- “Clean, paint and align gutters and downspouts.”
- Cleaning out your gutters should be done at least twice a year no matter what. It is not good for your house if the gutters are full of leaves and junk from outside as this can cause flooding and water damage. So, if they aren’t already clean, you should clean them out before selling or renting.
- Painting your gutters the same color as the trim make them blend in and gives the house a little something extra. If your gutters are already the same color as the trim, it is a good idea to go through and touch up any areas that have been scratched or chipped due to natural wear and tear.
- If your gutters and downspouts are not already aligned, which they should be, go through and straighten them out. There is nothing worse than a big storm coming through and you have a big lake in your front yard because all the water came dumping off your roof into only one spot.
2. “Check foundation for cracks and repairs.”
- Having cracks in your foundation can cause serious issues for a home and its owners. It is easy to walk around the house and inspect for visible cracks on the exterior of the foundation. You should also consider having your foundation professionally inspected for cracks and other problems.
3. “Clean grease and oil spills from driveway.”
- The term “curb appeal” comes into mind here. Grease and oil stains make the property look dirty. It is easy to get some cleaner and scrub it off your driveway, assuming your driveway isn’t covered in the stuff.
4. “Power Wash and paint the exterior.”
- You will be amazed at the difference by the way your house looks when its been power washed versus not power washed. Everything flying around outside sticks to your house, just like the dust inside your house. Once you have power washed the exterior, it is good to have it professionally painted. Fresh paint will brighten up the house and make it look new, even if it is a 40-year-old house.
5. “Inspect and clean chimney.”
- Make sure that the chimney doesn’t have any issues and is clean. This is mostly so the house doesn’t burn down the first time the buyer or tenant starts the fire in the fireplace.
6. “Repair and replace worn shingles.”
- This is a big one for people who are trying to sell their home. Buyers will typically have the roof inspected to ensure that there is some life left and check for durability of the roof. Worn and torn shingles pose a problem for the house itself. It can cause leakage and water damage. How would that look, showing the house on a rainy day and the roof starts leaking? Not very good I’m guessing.
7. “Caulk tubs, showers and sinks.”
- Caulking your tubs, showers and sinks is necessary. Caulking stops water from getting into the walls and floors, wreaking havoc on the interior. Caulking is super easy to do yourself too. You can buy it at any home improvement store or Wal-Mart. Plus, it makes the bathrooms feel newer and brighter because caulking is white.
8. “Make sure the toilets and faucets work well.”
- Have you ever been at someone’s house, flushed the toilet, and thought, “Wow, that flushed really slow. I hope it’s not clogged.” Or turned on the sink and the faucet was leaking making a mess you felt like you had to clean up? Well, no one wants to do that. If a buyer or tenant is coming to look at the house, chances are that they don’t want to either. These can also lead to plumbing issues later down the road. That is a big turn off to a buyer. If they are not working well, it is wise to get them fixed.
9.“Fix broken windows, shutters and screens.”
- Broken windows, or damaged shutters and screens may give a poor first-impression to your prospective buyers or residents. Windows are an important feature in any home or business space. They are necessary for letting in natural light, and fresh air. Oftentimes, they are also on the front of your building or property- which contributes to, or takes away from, the curb appeal.
10. “Touch up or re-paint interior wall color (neutral color).”
- Tenants and Buyers may be deterred by strong colors in a property- especially when they are different in every room. If your walls vary from yellow to purple to green and red- you probably want to paint over those before listing the property. Neutral colors are best, as they will appeal to the greatest number of potential buyers or tenants. Before you paint, make sure to check for chips, holes, and scratches on the wall that may need to be addressed prior to a fresh coat of paint.
11. “Install new carpet or flooring if needed.”
- Really stand back and take a look at your carpet or flooring after you have vacuumed or cleaned it. If you notice that there are too many areas where the carpet is worn down, big stains everywhere, or there is a bad smell coming from them, it is probably a good sign it needs replaced. For other types of flooring, inspect for hips and scratches throughout. Ultimately, replacing flooring before you list the property will increase the value, and will attract more buyers or renters.
Most of the items on this “to do” list are easy to address, and will help present your property in its’ best light. For some of the more difficult or technical items listed above, it is best to consult with a professional contractor. If your thinking about selling, renting or buying, and you need to do some touch ups or major overhauls, call First General Services for more information. Also, be sure to check out our other blogs (“Home Renovation Do’s and Don’ts”, “Questions to Ask Your Contractor”, “Maximizing a Minimized Space: Valuable Renovation Ideas for Smaller Homes”, and “Important Tips for Your Remodel Project.”) for some key ideas and things to keep in mind.
First General Services Emergency Response Teams are available 24/7 to help you through the entire repair and restoration process.
Denver Metro 303-646-2162
Colorado Springs 719-635-6789
References
Cafe, R. (2018, August). Denver, CO Rental Market Trends. Retrieved from Rent Cafe: https://www.rentcafe.com/average-rent-market-trends/us/co/denver/
Linda. (2016, February 16). Home Selling Tips: Repairs to Make Before Listing. Retrieved from It All Started With Paint: http://www.itallstartedwithpaint.com/home-selling-tips-repairs-to-make-before-listing/
