When you purchase an investment property, it’s important that you ensure that you make the right improvements to get the best possible return on your investment. If you have purchased a residential property to rent out, one key area to focus on is the kitchen. As the heart and soul of any home, having a well-designed, functional kitchen included in your rental, will allow you to increase rental rates and increase your profits significantly going forward. 

Investing in renovating the kitchen in your residential investment property will also make your property more attractive to potential renters. With a more attractive property, you can be sure that there will always be high demand for your property enabling you to secure a consistent income from your investment property. When you are upgrading the kitchen in your investment property it’s wise to hire a reputable plumber in Melbourne who has experience with kitchen renovations to ensure you get the results you want. 

Let’s take a look at just a few key components of your kitchen renovation that you should focus on to increase the rental value of your property. 

Install New Appliances

To create a modern functional kitchen design, you need to ensure that you include sleek, contemporary appliances that will improve the functionality of the space and add to the aesthetic. Smaller appliances such as toasters, kettles and coffee machines can be found in a range of colours and styles to match your design. Installing additional appliances such as a dishwasher, washing machine and a large fridge-freezer unit will attract more renters to your property. 

Choose The Right Lighting 

Updating the lighting in your kitchen can have a huge impact on the overall look and feel of the space. To ensure that the kitchen can be utilised with ease, it’s wise to install different types of lighting throughout the room. Under-cabinet lighting, spotlights and soft accent lighting can all have a place in your kitchen. Take some time to consider your options and choose a solution that will add value to your kitchen design. 

Update The Countertops

Over time kitchen countertops can become worn and old looking. To give your kitchen a new lease of life, consider updating your countertops. There is a range of materials, finishes and styles that you can choose from depending on your design goals and budget. Visit kitchen showrooms and look online to get some ideas of what you could achieve with your new choice of countertops.

Fresh Coat Of Paint

When you purchase your investment property, you should give the entire property a fresh lick of paint and your kitchen should be no exception. While choosing white will help your kitchen to feel bigger and brighter, don’t be afraid to experiment with loud vibrant colours that will catch the eye of prospective tenants. Bringing a little style to your kitchen will help your rental to remain at the forefront of the renter’s minds and ensure that your property is always in contention when the time comes to make a decision. 

Upgrade The Flooring

Worn out vinyl floor coverings and tiled floors riddled with chips and cracks are something, you want to avoid at all costs. These are telltale signs that a property is not looked after properly. To avoid making the wrong impression on potential renters, consider upgrading your kitchen flooring. Fresh tiling will look clean and tidy, timber floors can add a natural feel to the space and vinyl or laminate floor coverings provide an inexpensive solution that will help to refresh the space. 

Ensure Your Kitchen Renovation Is A Success

Before you begin your kitchen renovations, be sure that you put a budget in place and create a plan. Understanding your finances and having a solid plan laid out will help to ensure you get the best results possible form your kitchen renovation project. With your kitchen looking it’s best, you will be able to maximise the return on your property investment moving forward.