Our Oregon Hard Money Loans Make Upgrades Easy
It’s said that kitchens “sell” houses. A renovated kitchen not only increases a home’s value but can help clinch a sale.
If you’re thinking of selling a rental or investment property, you may want to consider giving the kitchen a fresh look before listing. What should you upgrade and how much should you spend?
A major kitchen overhaul can cost $50,000 or more. But you will never see 100% ROI with any kitchen redo, and a renovation does not have to be costly to impress. With a small investment in kitchen upgrades, you can make your property more appealing to buyers.
Follow these tips for an affordable kitchen refresh to impress and improve your sale potential.
Budget-Friendly Kitchen Renovation Tips
- Do not “over renovate.” Match your kitchen upgrade to the value of your home or investment property. Consider the local market, your home value, and your budget as you begin to think about what and how you’ll renovate.
- Minor renovations can be both affordable and effective. Replace cabinet fronts and hardware, replace countertops, replace appliances and repaint. For a little more money, replace cabinets (see our tip below) and upgrade your sink. The budget-friendly before and after impact will be significant.
- Kitchens become dated. Cabinet, countertop and appliance trends go out of style. As you plan your kitchen renovation, consider timeless styles and neutral colors and accents. You’ll get the best return on simple, classic design choices.
- Pre-built cabinets can keep your costs down considerably and save on time. Big box home improvement stores offer an impressive array of cabinets to choose from that will likely fit your needs, your space and your wallet – and save over the cost of custom-builts.
- High-quality laminate and solid surface countertops come in many styles and can also reduce your investment by up to half. You’ll find designs that replicate quartz and are both durable and low-maintenance.
- Swapping out appliances is an obvious upgrade with any kitchen redo. The cost can vary widely. Avoid choosing the cheapest appliances on the market; you’ll pay for it in the end. Many mid-range appliances are attractive, well-made and worth the bit extra. Research appliances most suited to your kitchen space and budget.
- You may be tempted to take down walls or open up your kitchen space. But carefully consider making structural changes. Modifying your layout is costly and will add thousands to your budget. Unless you’re intending to stay in the property yourself for some time to come and experience a personal payoff, save your money.
- Budgeting for materials and appliances is one thing. But labor is its own expense in a kitchen renovation. Contractors and subcontractors are a large part of the cost of any remodeling project. Ask around for personal referrals, research reviews, talk to references – and be sure to get a written bid.
Finance Property Upgrades with an Oregon Private Money Loan
Property improvements are a part of many real estate investment scenarios. Coming up with necessary financing when you need it can sometimes be a challenge. If timing or credit are issues, a hard money loan may be the answer. Gregory M. Russell has been helping Oregon investors meet their real estate goals for over three decades with easy qualify, streamlined financing. Our hard money loans are asset-based. If you have adequate equity, we can probably help. Unlike conventional lenders, your credit and employment history are secondary in our private loan approval process, and you can have cash in hand in ten days or less. Call us with questions at 1-888-477-0444 or apply online today. Your renovation project is on its way to being financed!