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How to Prioritize Home Renovation Projects

Start by Financing Upgrades with an Idaho Hard Money Loan

You’ve just purchased your first rental property or fixer-upper. How do you decide which improvements to tackle first?

If you’re new to investing in real estate, the experience can be both exciting and overwhelming. However, having a strategy – and a budget – for property upgrades will save time and money.

6 Top Property Upgrades

Every investment property is different. But if you need a bit of guidance when it comes to prioritizing upgrades, here are six renovations to put top-of-list:

  1. Paint: Start your renovation with a fresh coat of paint. For the cost of a few gallons, you can transform and brighten any room using light, neutral paint colors.
  2. Lighting: Maximize natural light and install new light fixtures to update interior spaces. Look for simple, streamlined lighting options and add dimmers wherever possible.
  3. HVAC: Non-cosmetic upgrades may not seem exciting. But it’s essential to ensure that heating, cooling, and electrical systems are safe, working efficiently, and up to code.
  4. Kitchen: This renovation will provide the highest ROI. Take a kitchen from dingy and outdated to fresh and appealing with a budget-conscious redo that includes cabinets and appliances.
  5. Bathroom: Achieve a value-add bathroom upgrade with a cosmetic refresh. Update hardware and faucets, replace the toilet, swap out the vanity and mirror, and voila!
  6. Flooring: Invest in flooring for an updated look and feel. Hardwood floors are a popular home décor trend; achieve the look with budget-friendly vinyl plank flooring.

Use an Idaho Private Money Loan to Get Money in Hand – FAST

Having the financing you need for property upgrades is essential to your success as a real estate investor. At Gregory M. Russell, we’ve helped Idaho investors meet their goals and build their investment portfolios for over three decades. Our private money loans are a great way to get the financing you need quickly and without hassle. The application process is streamlined, and our hard money loans are equity-based, making your credit and employment history secondary to the process. Talk to us today about your needs. (1-888-477-0444) Or fill out our online loan request form to get things started. We look forward to working with you!