Remodeling a home to increase its property value as part of a real estate investment strategy is a highly effective way to become a successful investor. But it’s all about knowing how to make the right remodeling choices that bring you the most value to your investment. In the Pacific Northwest, there are specific remodeling projects that bring your home more value than anywhere else in the country. Take advantage of these opportunities to grow your investment portfolio at a lower relative cost to you.
Fiberglass attic insulation
A poorly insulated attic greatly raises monthly heating and cooling costs. To retain warmth in the winter and cool in the summer, replacing attic insulation is the most cost-effective home improvement you can make to add value to your home for the years to come. The best part of this remodel is that you can do it yourself if you’re looking to save extra money on labor costs.
Remodeling home with fiberglass attic insulation
In most cases, a professional or yourself will first use rolls of fiberglass insulation to cover the majority of floor space in the attic. Then, blown-in insulation (also known as loosefill insulation) will fill in any uncovered areas and small spots of exposure to ensure a fully enclosed and properly insulated attic.
New steel front door
Steel front doors are generally less expensive than fiberglass and wood doors while still providing a strong defense against wet winters and potential water damage – a big plus in Portland, OR. In addition, they don’t require a lot of maintenance and help keep the home insulated against the cold.
What to expect when replacing a front door
Another relatively inexpensive home improvement project you can do over the weekend is replacing your front door. The installation process is pretty straightforward. Tools you’ll need to remove the old exterior door and replace it with a new steel door include a caulk gun, miter saw, pry bar and reciprocating saw. If performing carpentry tasks as part of a DIY project isn’t your thing, you can always find a local handyman to handle this work for you.
Manufactured stone veneer
Manufactured stone veneer is the style of thin rock siding that you’ll often see on the exterior of homes near the front door. It can look very realistic and adds that extra aesthetic touch that improves the overall value of your investment property. You can choose to strip the front-facing walls on your home entirely, or decorate the bottom third of the walls for flair that improves the physical appearance of your home.
Home remodel with stone veneer installation
Installation of manufactured stone veneer can be a DIY project over the weekend or of course, you can hire a professional. Much of this will depend on the scope of your project. Generally speaking, you can adhere stone siding to a bare wall surface with nothing more than traditional mortar. The stone veneer is lighter in weight than brick and conventional stone material, which makes installation that much easier.
Minor kitchen remodel
Usually when homeowners and real estate investors alike think of remodeling a kitchen, they imagine major home improvement projects like gutting the entire room and starting from scratch. However, minor kitchen remodels offer greater rates of return and provide more home value overall at a lower cost to you. Some examples of valuable kitchen remodels include replacing old appliances with energy-efficient models and replacing cabinet fronts with wood panels. In addition, installing an updated sink and repainting the kitchen trim go a long way to increase the value of your property investment.
Invest in real estate with Portland Investment Group
Portland Development Group is committed to providing trusted and successful real estate investment, home-building and design, and redevelopment projects in the Pacific Northwest. Contact us today to learn more about investing with us and take a look at our high rates of return on Portland real estate investment.