20
Apr
By First Rate Financial Group
Investment Properties

7 Inexpensive Upgrades You Can Make To Your Rental Property

7 Inexpensive Upgrades You Can Make To Your Rental PropertyUpgrading your rental doesn’t need to cut deeply into your profits. You can add curb appeal and help prospective tenants see your rental as their next home by making some simple changes. The following upgrades are all things that a handy landlord can do without needing to hire professional contractors.

1.  Decorative Switch Plates

Replace ugly cream switch plates with either stainless steel models or decorative designs. Fancy switch plates for light switches and electrical sockets cost very little, yet make any room look nicer. The best part is, you can do the replacements yourself, using only a screwdriver.

2.  Flower Beds

Beautiful flower beds make any rental look more inviting. You can enhance curb appeal by planting inexpensive perennials around the front of the rental and along the pathway leading up to the door. Top off your newly planted flower beds with a fresh layer of colored mulch.

3. Kitchen Cabinet Refacing

Kitchen cabinets are pricey, but it’s cheap to just reface existing cabinets. You can either replace the entire doors or take them off and give them a fresh sanding and a couple of coats of varnish or paint.

4. Fresh Paint

Even quality paint is inexpensive. Give your rental a beautiful new look with fresh paint throughout. You’ll want to use neutral tones, but consider making an accent wall, painted with an attractive color.

5. New Light Fixtures

Old light fixtures make a place look dated. You can pick up inexpensive light fixtures at big box home improvement stores. This simple upgrade will make your rental more attractive and modern.

6. Broom Storage Area

Most rentals don’t come with a broom closet, but you can create a makeshift broom storage area very cheaply. Just pick up some plastic broom holders and a shelf from the hardware store. Attach the broom holders to the wall and hang the shelf over that. Your tenants will appreciate the upgrade!

7. Fresh Window Treatments

Window treatments make a house look like a home. Replace window blinds or shades for an instant upgrade. Curtains are even cheaper and can be laundered and reused between rentals.

No matter where your rental is located, you can make it more attractive with these easy and inexpensive upgrades that you can do yourself.

11
Feb
By First Rate Financial Group
Mortgage

The Top Tricks For Updating A Home On A Tight Budget

The Top Tricks For Updating A Home On A Tight BudgetThere are a lot of people who are looking for ways to get the most money out of their property when they put it on the market. One of the tricks to doing this is to update the home before it goes on the market. Unfortunately, this can also be expensive.

Even though it is true that many homeowners will be able to recoup the price of the renovations when they list the home on the market, we still need to pay for these updates out-of-pocket. This can be incredibly expensive and could take money from other important areas, such as a car or someone’s education. Fortunately, there is a way for people to update their home without spending any money out of pocket. 

Refinance The Home And Free Up Some Cash

The first option the people need to consider is the opportunity to refinance the home while also freeing up some cash. Those who have been in their home for several years might have some equity built up in the home. They may be able to refinance their home, reducing their monthly payment while also getting a little bit of cash they can use to complete the renovation without paying anything out of pocket. Those who are interested in this option should speak with their lender about some of the ways they might be able to finance their renovation project.

Set Up A Payment Plan With The Contractor

Another option that homeowners might want to consider a set up a payment plan with the contractor. A lot of contractors are willing to provide homeowners with very low interest rates, or 0 percent interest rates, on the home renovation project. Most contractors understand that a lot of families are operating on a budget and might not have money to pay for the project in its entirety up front. This is another topic that homeowners should discuss.

Finance A Home Improvement Project On A Budget

These are just a few of the many ways that homeowners can finance a home renovation project without spending an exorbitant amount of money out-of-pocket. Think about these options ahead of time and make that next home improvement project more affordable.

 

07
Jan
By First Rate Financial Group
Mortgage

When Is The Best Time Of Year To Buy Things For A Home

When Is The Best Time Of Year To Buy Things For A HomeFor those who are trying to buy things for their home, it is important to think carefully. Nobody wants to overpay; however, reaching for something cheap may simply end up getting replaced quickly. There are a few highlights that everyone should consider purchasing for their home in January!

Purchase Some Furniture In January

First, everyone has to make sure they think about buying furniture either in January or July. A lot of furniture manufacturers provide retail stores with new pieces in February and August. Therefore, a lot of furniture will go on sale starting either in January or July.

Storage Items Go On Sale In January

Again, a lot of stores will roll out sales in January for storage essentials such as baskets, shelves, and organizing systems. There are a lot of student’s who are looking for inexpensive items before the start of the new semester and what’s leftover after Christmas will often go on sale in January.

Major Appliances Go On Sale During January And The Holidays

One of the most expensive items that people purchase for their home is a new appliance. These tend to go on sale during the holidays and shortly after Christmas. With new versions coming out at the start of the new year, the prior year’s models need to be cleared out and retail stores will slash their prices in January.

Flooring And Paint Will Go On Sale In January

A lot of homeowners will take breaks from remodeling projects during the holiday season. Therefore, paint manufacturers and flooring specialists are often desperate for business during the winter. For this reason, a lot of paint and flooring essentials will go on sale during January, providing homeowners with a chance to save some significant money on their next renovation projects.

Linens And Towels Go On Sale In January

Finally, anyone who is looking for new linens and towels should try to wait for January. These are common gifts during Christmas so retail stores will be looking for ways to clear out the leftover inventory after the holidays. As a result, a lot of linens and towels will be marked for major discounts following Christmas.