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Distressed Property Investments: Renovation Tips

08 Aug

Real estate investments can have you reaping bountiful harvests in record time, but that’s only if you know how to put your money in the right spot. For instance, you might want to consider investing in distressed properties for sale.

One of the primary reasons for doing so is that distressed properties often go for about 50 percent of its actual value, especially for homes that have already been foreclosed. Any investor worth his/her salt can see that these properties are a steal.

Of course, you’ll have to conduct a few remodeling projects if you want to maximize your return on investment (ROI). Keeping that in mind, here are a few remodel suggestions that offer the highest ROI:

Deck Additions

Adding a composite deck to a home can yield a 103.7 percent ROI. Opting to add a wood deck yields a 95.9 percent return. This highlights how much buyers value low-maintenance amenities.

Minor Kitchen Remodel

Not every kitchen remodel calls for an extravagant change. Replacing a few countertops or flooring and updating appliances can give a kitchen the facelift it needs. In fact, more often than not, minor kitchen remodels yield a higher ROI (102.9 percent) than a full-scale remodel (78.2 percent).

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