Stunning Remodeling Ideas to Attract Residents
Although there are countless reasons to remodel a property, those using it as a source of rental income should appeal to residents at the forefront of their efforts. While anything “new and improved” will likely stand out to people in the market for a new residence, the best remodeling ideas in 2022 will help residents save on their monthly bills and increase their pride in calling the property home. With this in mind, keep reading to discover 6 stunning remodeling ideas to attract more residents.
With the U.S. inflation rate checking in at a historic 8.5% for the 12 months ended March 2022, consumers are getting creative in their efforts to cut costs. They are eschewing meat from their grocery runs, canceling Netflix subscriptions, and driving their cars less in an effort to keep up with their monthly bills.
And while the soaring costs of building materials and labor make it tough for most landlords to provide rent relief, there is one idea that is a true win-win for everybody: remodeling for energy efficiency.
Energy-efficient upgrades will appeal to residents who have felt the pain of the soaring costs of energy. Some projects that can help reduce energy consumption and keep utility bills under control include:
- Solar panel installation
- Installing hurricane grade windows to reduce air transfer
- Applying sealants to fissures in the building envelope
- Using a continuous insulation system
- Adding radiant floor heating to reduce the reliance on HVAC
Not only will lower energy bills appeal to residents, but it puts the property in a strong position for the future. With the U.S. government having a goal of a net-zero economy by 2050, energy-efficient properties will be more marketable and require less work for compliance as the government gets more aggressive in its green initiatives.
Roofing and Siding Replacements
On the subject of energy efficiency, roofing and siding replacements both have tremendous potential as well.
When upgrading these areas, materials like metal and fiber cement are great choices because they have elite impact resistance and are extremely unlikely to degrade in the face of severe weather. In addition, thanks to their tremendous durability, property owners will have to consume fewer resources for maintenance, repair, and replacement.
Furthermore, roofing and siding are two of the most important elements for securing a property’s curb appeal. When residents take pride in their residence, they are far more likely to take care of it and treat it like their own. And one of the best ways to help ensure resident pride is by providing a property that looks stunning to passersby.
Some of the best ways to appeal to residents through curb appeal are by exploring composite slate roofing, stone facade, and board and batten siding options.
Hardwood floors are expensive, but they are highly appealing to residents. Not only do they create an elegant aspect that residents take pride in, but residents prefer hardwood because it is easier to clean and absorbs fewer allergens than carpet.
And if installing solid hardwood throughout the property is financially unfeasible, take heart. There are many hardwood alternatives, such as engineered hardwood, luxury vinyl tile, and even bamboo, that offer a similar appearance and benefits to solid hardwood at a more palatable price point.
Contemporary Kitchen Features
There is a common saying in the real estate world: kitchens sell houses.
Therefore, when remodeling a rental property, a modern, functional kitchen is one of the best ways to appeal to residents. Some features to include are:
- An open concept that connects the kitchen to adjoining areas of the residence
- Spacious islands
- Nonporous countertops, such as quartz or solid surface
- Energy-efficient appliances
Although it may seem simple and hardly qualify as “remodeling,” landscaping is actually a highly worthwhile project for landlords. Statistics show that a well-landscaped property is between 5-10% more valuable than a similar property that ignores landscaping.
In the coastal areas of southern California, landscaping efforts can start with assiduous attention to removing the trash and debris the sea breeze stirs up. In addition, stay on top of trimming trees and raking any dead vegetation.
And because many San Diego-area properties feature swimming pools and other outdoor hangouts, be sure to install advanced landscape drainage systems to prevent standing water and concrete discoloration.
Finally, for those property owners looking for ultra-quick projects to appeal to residents, there are a number of ways to add some exterior accents that can inject fresh life into an otherwise mundane building. Most of these ideas can be completed in a day or less:
- Garage door replacement
- Adding millwork products to roof gables
- Installing a new entry door
- Applying door and window trim
- Setting up a pergola
Get Creative With Remodeling Projects and Attract More residents
The best remodeling ideas to attract residents in 2022 are those that help them save on their energy bills and increase their pride in the residence. To this effect, energy-efficient upgrades, roofing and siding replacements, hardwood floors, contemporary kitchen features, landscaping, and exterior accents are 6 of the best remodeling ideas to appeal to residents. So get to work on any of these ideas today and see the rental applications start to roll in!
Ryan Shure is an editor for the Innovative Building Materials blog and a content writer for the building materials industry. He is focused on helping fellow homeowners, contractors, and architects discover materials and methods of construction that save money, improve energy efficiency, and increase property value.
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