The Georgian real estatemarket is booming, giving investors the perfect opportunity to get more from their efforts. After a rather slow 2020, caused by the COVID-19 pandemic, things are now easing, and the property market is taking shape. With the demand, whether for rental or sale of property on an uptrend, the main question for investors is, “How do you optimize the returns on investment?” Here are some expert tips for you to consider.
Make Your Property More Energy Efficient
Many people coming to Georgia have a lot of concerns about the energy efficiency of the properties they acquire or rent. Therefore, making property more energy efficient can help in two ways, cutting energy-related bills and helping you to tag it with a higher price. Buyers will be willing to pay more because no additional investment to make the houses energy efficient is needed. Here are some suggestions for making houses energy efficient:
- Add solar-powered water heaters.
- Install solar panels.
- Install low-flow showerheads.
- Change the windows with low-E Models.
Long Term Landscaping
To optimize the returns from real estate, it is crucial to think like a client. So, would you go for a house with a carefully landscaped compound or with none? Of course, every client wants to get a house with a well-kept landscape, which is used as a sign of a properly maintained house.
If the buyer is a family member, a well-landscaped compound flares up emotions, making him/her imagine sipping coffee on the balcony with the manicured lawn in the background. If it is an office, the well-designed landscape might be all that he/she needs to win more clients. With these additions, most clients will be willing to pay more for the property.
Improve the Health Features of the Property
For most people coming to Georgia, buying a house is a huge investment. Therefore, even before committing to purchase, the buyer would want to only get what will make him/her enjoy a healthier life. So, you are sure of optimizing your returns on investment by convincing them to pay more through the installation of health features. Some health features are also useful in preventing disasters and theft. Here are some suggestions:
- Air purifier.
- Carbon monoxide monitor.
- Smoke detector.
- Alarm system.
Make High Return on Investment Upgrades
Depending on the nature of the property that you are targeting, the upgrades you select can help to catapult the price through the roof. This is particularly the case when dealing with businesses, where people want to get utmost serenity. For example, if you are preparing a property for business, such as malls or art exhibitions, it might be a good idea to check the design of other top facilities. For example, you might want to look at the Asian and European art exhibitions where top collectors, such as John Dodelande, presented their work. Then, borrow some improvement designs. Here are some suggestions to consider:
- Wall painting.
If you want to get more from your real estate, be it raising the rent or the property’s price, the suggestions we have listed in this post can come in handy. Remember to choose the project carefully, factoring in your objective and the targeted clients. Make sure also to check what other competing properties are offering when calculating your expected margin.