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As we’ve now moved onto our second residential property – more blog content to come with this one – we’re feeling more confident with mortgages and definitely more confident with what makes a great property! With this in mind we would love to own a buy to let property one day as a fun project and also as a bit of security for the future in terms of finances. We know now how quickly houses can have value added to them with just a little bit of hard work and some decorative touches you can really add value, create a lovely home and really make somewhere that someone will want to live in. This post is all about how to make your rental property attractive to young couples or young professionals as this is the target market we would love to rent to as we feel like we know, from what we would like, what they would like! There’s also a few tips on what to add to pop on a little extra value onto the property, both for renting and eventually for selling.
1. Home office
We all know from the past six months that a home office is an absolute luxury but it’s also become a huge necessity for many people with the growing work-from-home culture. Even before the pandemic the number of people working from home, working for themselves and becoming freelance was rising. Working from home is convenient for some people too. I know that even when we’re all ‘back to normal’ I would want to work from home a few days a week because I can get lots more done sometimes when I really need to focus without meetings to distract me. Adding a home office to a smaller bedroom in a rental property can really make it more attractive to young couples and young professionals. Think neutral decor with greys, white or a calming sage green and, if you’re furnishing your rental property adding a desk and some handy shelves or a bookcase into it could really tick a box for your potential tenants. Making sure the home is well insulated is also a big plus for working from home as it can get chilly when you’re sitting in one place all day. Or, think about adding thermostats to individual rooms so that just the office could be heated at the one time.
2. Added security
For young couples or professionals with tech-savvy tendencies, adding some smart-home security could really boost the covet-ability of your property. Things like throwing in a camera-based doorbell and a home alarm system might attract future tenants and let them know that you really care about their safety and the security of the house. Of course, you also need to have buildings
landlord insurance but your tenants would need to organise their own contents insurance for any issues such as burglary. Fingers crossed with an alarm as a deterrent and sensible tenants, nothing like this will ever happen!
3. Fixtures and fittings
By boosting your interiors with gorgeous decor and great fixtures and fittings can really add some value to the rental price of your property. If there is absolutely nothing for your tenants to do except throw some blankets over the bed and some cushions on the sofa this is going to really work in your favour.
Clean, modern and easy to use kitchen and bathroom appliances are a big plus point too, we know they were with ours when we initially rented an apartment! Inbuilt appliances such as microwaves, dishwashers, washing machines and heated towel rails are all huge boosts for young professionals’ ease of living.