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Which renovations will generate you the highest return on your Property Investment?

Category Property Marketability Tips

When it comes to your investment property it's necessary to consider renovations that will generate the highest return.

Light fittings:
Your choice of light fittings can definitely change the mood of any room. However, while it is important to consider lighting that greatly enhances the atmosphere of your property, it is also important to consider the financial aspect thereof.
Light bulbs are not big energy consumers in households. However, when you consider them collectively, they consume a substantial amount of electricity in a household.
The most crucial decision to make when purchasing light bulbs is which technology to use. There are three technologies produced:

  1. Incandescent light bulbs
  2. Compact fluorescent lights (CFLs)
  3. Light-Emitting Diodes (LEDs)

Light-Emitting Diodes (LEDs):
LEDs are the most advanced and energy-efficient of the light bulbs. They also have a considerably longer lifespan than both CFLs and incandescent light bulbs.
In general, LEDs are by far the best lighting technology. They only need small amounts of energy to run and have a long lifespan. They also have a considerably longer lifespan than both CFLs and incandescent light bulbs.

Kitchens and bathrooms:
Kitchens and bathrooms can often leave a property feeling unappealing if left outdated.
Some of the quickest ways you can enhance these rooms is to replace old-fashioned and worn handles, knobs and fittings like taps, shower heads and toilet paper holders.

Lastly, as we naturally use more hot water during winter periods, a geyser can become a big electricity drainer during colder months.

Here are 3 ways to address this issue:

  1. Insulate your geyser: Investing in a geyser blanket can help keep water warmer for longer and reduce your property's electricity usage in the long run.
  2. Invest in a geyser timer: A geyser timer is a consistent way to ensure that a geyser remains off during peak electricity demand periods, ensuring excess electricity isn't used unnecessarily.
  3. Change your showerhead: Using an energy- and water-saving showerhead can help reduce hot water usage by up to 24%, thereby reducing the amount of energy used by your geyser.

Think long term by investing in the marketability of your property.

Author: by Storme-Lee Oliver

Submitted 19 Jun 23 / Views 1090