When it comes to investing in a Boston multifamily home, one of the keys to success is to make creative upgrades and attract tenants who pay more. That means taking the time to renovate in a way that improves the property’s value and marketability and reflects positively on you as an investor. You can have tremendous success in real estate if you focus on adding value that returns your capital quickly and starts working in your favor longer term. Boston is an old city and there are always value-add opportunities in multifamily if you seek them out. With this in mind, let’s explore seven renovation projects that can help your Boston multifamily home investment succeed in this highly competitive market.
1. Kitchen Remodels
As the heart of the home, the kitchen is one of the most crucial rooms in any multifamily investment property. Renovating the kitchen can make the property look better, be more practical, and appeal to renters. Some popular kitchen renovations include updating countertops, cabinets, and appliances as well as adding features like islands or breakfast bars. Don’t forget to add ample electrical outlets around breakfast bars and kitchen islands. When planning kitchen remodels for your Boston multifamily home, it’s essential to consider how the space will be used and how it will look. For example, durable and easy-to-clean materials like granite or quartz are an intelligent choice for countertops. At the same time, stainless steel appliances can give the kitchen a sleek and modern look.
2. Bathroom Renovations
Like kitchens, bathrooms are a crucial selling point for any multifamily investment property in Boston. Updating the bathroom can be as easy as replacing old fixtures, like faucets and showerheads. It can be as complicated as a total remodel with new tile, flooring, and vanities. We are also starting to see numerous vanities coming out with Bluetooth speaker capabilities within them so you can listen to your favorite podcast or music…
