When renovating your multifamily property, no detail is too small including your finishes! Upgrading sink fixtures, drawer or cabinet pulls, and backsplash tiles can help elevate your property further during your renovation. Today we’re exploring trends and finish upgrade options that you can incorporate into your design to elevate your property that will allow you to charge a premium price.
When making renovations, the kitchen and bathroom are two places renters look for updated features and where they see the value in the unit. Here are some features you may want to consider updating:
- Hardware Finishes
- Plumbing Fixtures
- Lighting Fixtures
While having granite or quartz countertops can attract renters willing to pay a high premium for your units, an inexpensive way to get the “wow” factor without replacing your countertops is by resurfacing them. You can opt for a smooth single color glossy finish, pick from several predesigned or design your own tri or quad colored speckled finish in gloss or matte.
Looking for a countertop specialist? In the DFW area, we use “The Option Company” based in Carrolton, TX. They have the best quality products with the best warranties on their products at competitive pricing. They are super easy to work with and we can’t recommend them enough! Contact David Pimenta at (972) 466-4116.
Consider installing a hard floor option for the wet areas and the living/dining room areas and only installing carpet for the bedrooms. This helps open up the space when you do this. However, in apartments, this can be loud for downstairs neighbors in older buildings so in those cases, you may want to only do hard floors for the first floor apartments only.
If you opt for hard floors, you may want to consider one of these trendy options:
- Wood laminate plank: This is a multi-layer synthetic flooring product that is specifically designed to give the appearance of real wood at a fraction of a cost.
- Luxury vinyl: This is a new category of flooring that combines the high-end look of hardwood with the durability of vinyl while still looking like real wood.
Updating the backsplash in your units is a great way to quickly elevate your property’s unit. While subway tiles and other simple patterns are looked at as timeless designs, you might want to consider trying something different. You can do this by trying a unique pattern or by using a different material -- such as metal or wood. By trying something a little outside of the box, you will give your residents something to consider that is different than your competition. Some backsplash ideas you may want to consider include:
- Herringbone pattern, diagonal, or vertical pattern
- Simple geometric patterned tile such as hexagons, triangular, square
- New materials like metals or wood
Plumbing & Hardware Fixtures
Changing the hardware on your cabinetry and plumbing fixtures can really add the finishing touch on your bathroom and kitchen renovations.
Consider skipping the usual nickel or brass and opt for something more on-trend like gold, copper or an updated finish. Hammered finishes are set to be popular for 2017 continuing the trend of modern industrial and could be a great touch for your design. Another desired feature renters find value in that you may want to consider for your cabinets and drawers are soft-close options.
Another feature you should take into consideration while making renovations is your lighting fixtures. Lighting is often a feature that can date a multifamily property so if you are renovating an older property this is one area that can help bring a modern touch. Residents are attracted to well-lit spaces so it’s important that your finishes and fixtures provide this whenever possible.
No matter how big or small the renovation you are planning for your property, attention to detail during your project can have lasting effects. If you are considering a project and would like to maximize your ROI in the New Year, contact us today!