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With interest rates low, now is the time to buy a home to repair or rent if you’re sure of the stability of your current job. There are many opportunities to win big in the market when the economy changes.
Once you select your target home and complete the purchase, you’ll want to work on making improvements that will increase the home’s value and bring the aesthetics to a state that will appeal to a class of buyers within your target price range.
Kitchens and bathrooms are two places to invest a few dollars in remodeling. Home seekers want a tasteful, modern look, not avocado green. The countertops are relatively inexpensive to replace, and the laminate is much warmer and more realistic than it was ten years ago. Consider spending some time deep-cleaning your wood cabinets with an oil-based soap to remove dirt and replace knobs and drawer pulls for a fresh look. The sink can be another place to invest some money, as sinks can easily show wear, dirt buildup, and scratches that make them look old.
When you move on to the bathroom, consider recaulking around the tub and toilet areas. Over time, these areas darken with age and may show mold or mildew. Light colors look good in small spaces like bathrooms, so take a look at your paint as you consider swapping out your light bulbs for something in a bright white shade.
If you think you’ll have the home for a while before you sell it, consider making reflective insulation your first chore. It would be great to be able to show a reduction in energy consumption as a result of installing energy efficient reflective insulation. You can use that as a selling point to help answer any questions about how well the house might be protected against seasonal weather changes. While not the only factor in whether or not you save money on your energy bill, the presence of reflective insulation can go a long way to blocking radiant heat transfer to cooler spaces.