5 Simple yet Effective Exterior Renovation Ideas for Multifamily Properties

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Many multifamily property investors merely focus on renovating the interiors including kitchen, bathroom and the living room and ignoring the exteriors. Though interior renovations hold significant importance in enhancing the value of property, exteriors are the first point of contact for any buyer and deserve equal importance. Exterior renovations give you the best bang for buck, whether the properties are meant to be sold in near or far future. As all renovations do not yield equal returns on sale, it is important to know specific areas and perform a facelift to enhance value of the property. There are multiple ways to revamp the exteriors of multi family properties with low price points that investors can consider, with quick completion times after seeking assistance from remodeling contractors.

The blog post enlists five such exterior renovation ideas for multifamily properties. Let’s have a look.

1. Change the Gateway

Arranging a makeover for the entrance is the simplest way to enhance curb appeal and add up to the dollar value of the properties. Old doors can look scratchy and dull, killing the aesthetics of the property. So, multifamily property investors can consider repainting the front porch, the trim on the exterior or install brand new doors with the help of remodeling contractors. Though new doors occupy a high price point on remodeling budget, investors can expect to recoup a significant value while selling the property. Additionally, use a low-luster acrylic paint and hand over the job to remodeling contractors to fix those ugly dents and scratches before repainting. Taking a step further, old tiles can be replaced with lustrous wooden floor to enhance the charm of the doorway.

2. Go For Landscaping

Though many people are obsessed about the interiors prior to buying a home, the exterior part often goes unnoticed. Landscaping with bright, colorful flowers or lush green shrubs enhances the visual appeal of the property, along with enhancing the dollar value. So, multifamily investors should seek assistance of remodeling contractors to plant small trees and shrubs near the front gateway and around the corners to transform a boring garden into an attractive, full-fledged lawn. Additionally, overgrown, hanging trees and shrubs should be trimmed at regular intervals to maintain the sprawling looks and decor of the exteriors.

3. Install Solar Panels

Solar panels are a signal to potential buyers that they can enjoy significant savings on power bills after buying the home. As inflated power bills are a concern for multifamily properties, what could be a better option than installing solar panels? Moreover, energy produced from solar panels produce no harmful emissions, which is a plus for the environment as well as the residents of the property. Installing the panels require expertise and an extensive analysis of the roof area and angle, therefore investors can outsource the job to professional remodeling contractors in nearby areas.

4. Accessorize the Property

Investing in a few accessories can modernize and old home, accentuating the charm of the home. Small exterior lights, an address plaque, a mailbox and garden accent can breathe a new life into the exteriors of any property, thereby enhancing the desirability of the buyers. Moreover, any renovation that adds up to the living space can boost the value of a multifamily property. If you are ready to invest and expect to recoup a significant amount while selling, build a deck or patio.

5. Update Siding Placement and Install Energy Efficient Windows

New vinyl sidings are effective in enhancing the value of a property along with controlling insulation and heating costs. Modern windows perform a similar role in saving heating and cooling costs, accentuating exterior appeal and increasing the desirability of the property through substantial energy savings.

The Bottomline...

Many multifamily investors believe that only expensive investments enhance the value of a property, and frugal ones are not effective. On the contrary, understanding the right areas to renovate and timely completions can make living more enjoyable in the property without spending a fortune. So, instead of spending extravagantly on renovations and getting cash strapped, consult professional remodeling contractors and get the optimum value of your investment.