Good day! My name is Ben Everingham and I’m the director here at Pumped On Property and today we’re gonna talk about ten ways to improve the street appeal of your investment property.
Beautiful! So today we’re talking about the ten ways to add street appeal to your investment property. And a lot of these things are things I’ve personally done in the past, things that my wife, who’s a professional interior designer, has done with her clients, and they’re just little hacks and little tricks to add value to the outside of the property without breaking the bank. And I thought I’d share them with you because they’re super important and they’ve definitely helped me sell properties in the past for a premium and get premium rent, which is what it’s all about; return on investment.
So in terms of these ten little hacks, I might actually start by explaining why it’s important to have street appeal from an investment property’s perspective. So when you consider selling an investment property, the marketplace or the people in the market that are gonna spend the most amount of money for your property and buy it off you for the highest amount of money, are the emotional first time buyers and home buyers in that suburb.
They’re not gonna be the investors that are looking for a bargain, and so you’re trying to present your property to target that particular segment of the market, which is the owner-occupier, first, second, third home buyer, up sizer, down grader, whatever it is your property type and property caters to, but the reality is the more street appeal, the more it feels like an owner-occupier property, the more people can actually visualize themselves and see themselves standing there and staying there. So that’s from a sales perspective.
From a tenant perspective, again, everybody feels good about coming back to a place that looks nice, that feels clean, and that meets their lifestyle standards based on whatever it is that they’re looking to achieve. And so from an investment perspective, having that street appeal can definitely give you that edge over other investment properties in the market place, and also helps to attract high quality, longer term tenants which is super important to me. I would rather have one tenant in there paying slightly less rent for the next ten years, than have a tenant moving in every one or two years and trashing my property, and having all the maintenance issues that come with that as well.
So in terms of these ten things that add street appeal to the investment property, the first one is the roof. Respraying the roof, or replacing the roof is a really easy way to add street appeal to your property.
And I’m gonna share a story with you that’s a little bit embarrassing what happened, but I think part of what we do at Pumped On Property is just share the negative stuff, the positive stuff, and helpfully help you realise that things happen throughout this journey. Not everyone’s perfect, and even the people that have been there and done it are probably the ones that have made the most mistakes in the past.
So in terms of this process, basically I was in between jobs, I had a week before I started my new job. This was the first house that my wife and I have bought on the Sunshine Coast in Queensland where we now live together, and I think it was our third investment property. And basically I invited a friend over and thought we’ll clean the roof and paint the roof over a period of a week together. It was coming into summer so it was nice and warm up there, we thought we’d get a tan and have a bit of a laugh at the same time. So on the first day, we’re all excited and we get the high pressure hose and we get up on the roof and we’re cleaning it. And I’ve had some experience, obviously, before going to uni and at uni working for trades in all sorts of different industries, so I kind of knew what I was doing but not really. And he had no idea, he was like an office guy that had come from a marketing background. And so I go to get some lunch and I notice that he’s been spraying this Karcher, instead of down the tiles so the water runs off the roof, up the roof so there’s no where for the water to escape. It shot through the tiles and into our roof! Basically, I go to sleep that night thinking ‘Ugh!’, I’m just waiting for something to happen but I thought it was going to be okay, I couldn’t see the water seeping through into the chip rock of the roof when I went to bed. And I wake up at about twelve o’clock at night with this huge crash. I run into my lounge room and I’m like ‘What’s happened?!’. Basically, because of all the water that he sprayed into the roof, it’s finally caused the chip rock in the ceiling to buckle and basically, from my lounge room all the way through to my kitchen, about a meter wide by about ten meters long of plaster board has just crashed down and fallen on the floor. So that was an expensive exercise, and I’ve definitely learnt my lesson. If you’re gonna get your roof done, do it properly and get it done by a professional, because the plaster board ended up costing me about three thousand dollars to replace, on top of what I did for the roof. And I think if I got some professional quotes for the roof, it was only gonna cost me about two and a half grand to get the whole thing done. So, lesson learnt the hard way there!
Another great opportunity is simply repainting or respraying gutters, downpipes, any timber or metal bits and pieces that you have holding the roof up or anywhere around the property type thing. So that’s a really low hang piece of fruit that’s an easy opportunity to dress the property up a bit nicer, and generally, if you’re painting the roof a certain colour, you would probably paint those the same colour to blend in.
The fourth thing that I think is really important is rendering. So this is a little bit of a more expensive exercise. Because rendering, depending on who you go through, can be quite expensive. For a general house, you might be looking at, if you just did the front of the house, anywhere between one and three thousand dollars. To do the entire house, you might be looking at anywhere between three and ten thousand dollars, depending on how big your house is and how well you can negotiate with the trades. But it looks amazing from the street! And whether you like render or not personally, in terms of dressing up a property to resale, it is a great opportunity. Particularly in Sydney and Melbourne, where it’s not as common and a lot of older properties are still the old school brick. To just make it stand out and pop that little bit, paint it a beautiful colour and it’s ready to go.
Another one of the little hacks that I’ve picked up is to actually repaint or respray the window frame. Often I’d drive past these houses and they’d been beautifully rendered, the roof’s been done, the garden’s absolutely immaculate, the lawn is perfect and then I look at these window frames at the front of the property and the sides of the property, and they’re the old maroon colour, or dark brown colour, or chocolate colour that they were thirty years ago, and the people have forgotten to do that. And they’re the little things that I notice and a lot of other people notice that just takes away from that experience of making it feel like an owner-occupier. So remember to respray those, again, super simple and easy way to add some value.
In terms of some other stuff, I think replacing the front door can be another good one. Maybe replacing it with something a bit more modern, either timber, or if you can afford the timber, just this standard door with some glass paneling from Bunnings can be super affordable, like a couple of hundred bucks for a nice, sturdy, front door. And again, from my perspective, value comes with weight. And when you walk through that front door and that front door feels sturdy and solid, it’s just a really good experience for a tenant, or for somebody walking through the property to inspect it to potentially buy it.
So for little hacks in the garden, either trying to bring the grass in the property back to it’s former glory. If you can’t do that, cutting your losses and replacing it with some nice Evergreen grass, I personally like to use Buffalo just ‘cause it’s so hearty. I’ve had dogs myself in my own properties. In my current property, actually, my beautiful black Labrador, Reddy, has absolutely destroyed the grass three times now, we’ve had to replace it twice, our backyard looks like a dust bowl. Every time the kids are out there having a run around, they come back absolutely covered in stuff. But what I’ve learned is that don’t use the builder’s cheap couch, go and spend a little bit more money on some Buffalo, something that’s a bit hearty. When we move out of this property and into our new one later this year, we’ll actually relay that grass for a third time. Lesson learned again the hard way, which is sometimes the only way that we as investors do learn, unless we have those people that are around us, or we come from a trade background and have a fair bit of logic in the way that we make decisions.
So garden beds are really important in terms of creating that owner-occupier appeal, and I keep harping on about this ‘owner-occupier’ appeal because of three reasons. One, valuers value owner-occupier style properties better than they do your standard investment property because they can tell the quality. And again, you gotta be careful that you don’t over-capitalise in an area. The second reason is tenants absolutely love it and will pay a premium for it in the market place. And then thirdly, if you’re thinking of selling the property, you really want to be selling it to that owner-occupier market that we talked about before.
So the last one is fencing. I didn’t really ever think about fencing pretty much until I had a dog and my beautiful little girls, and now it seems to be the only thing that I think about on investment properties because you’re polarising so much of your market, especially the long term tenants like families, that need a safe, secure environment for their children to play in. So fencing is super important, again you don’t have to go overboard and go crazy and do this beautiful, besser brick, rendered, retaining style fencing. You can do something a little bit nicer. You can do a pine fencing with a cap, or you can just do your standard pine fencing if its a standard area, or you can even use your aluminium pool fencing that is see through and not everybody loves, but again, with some nice wooden posts connecting it, can look really, really nice and that’s what I personally do on my properties now. But fencing is important!
So I hope this video has added a little bit of value to you in terms of just some of the things that I think can add street appeal to your investment property. If anybody’s got any other suggestions or little things that they’ve done that add value, please feel free to send them to me and I’ll add them to the comments section, or just jump down below in either Youtube or on the website, if you’re watching it on the website, in the comments section below tell us how you’ve either succeeded or failed, overdid something, or under did something or just absolutely nailed it in terms of what you’ve done with the outside of your property.
I really appreciate the opportunity to speak with you today, until next time, stay hungry!