Security-Focused Improvements That Protect Your Investment

When purchasing an investment property, adding security-related features will help ensure the safety of the occupants and ensure the integrity of your home. Determining what kind of security features to install depends on the location of the property, the requirements of your homeowners' insurance and ultimately, how that property will be used by the renters. 

Security Monitoring Service

Installing a security monitoring service that provides 24/7 fire, police and emergency services access is a great addition to any rental home. Many homeowners' insurance companies require this feature as an added layer of protection by the mortgage company. By installing this type of monitoring service, fire or emergency services are alerted if a home invasion or fire is detected on the property when the occupant is not available or if the home is unoccupied. 

Remote Locking Systems

If you are planning on renting your property for short term rentals or the property is not near where you live, installing remote locks allows you to create a system by which you have greater control over who has access to the home. Remote locking systems allow you to provide key codes to renters, service personnel and property managers on an as-needed basis. Once the renter has completed their stay or the work you have contracted is completed, the door codes may be deleted and the home is rendered secure once again.

Video Surveillance Systems

With the incidents of home invasions on the rise, installing video surveillance systems is a must. Video surveillance helps you monitor the activity at your property while creating a visual record in case there is an incident where the police may need to be involved. Whether you are waiting for materials to arrive for a renovation or someone to help fix a broken pipe, having eyes on the front door, back door, and other entrances to the home, can help you monitor the traffic around your property.

Installing a security feature or multiple security features can help protect your investment. If you are considering adding one of those mentioned here, first determine its primary purpose and be sure to research a variety of brands along with their support features.

Why House Flippers Always Remodel the Kitchen and Bathroom

Spreading the remodeling budget evenly over the entire house seems logical to many new real estate investors. After all, many investment properties could benefit from improvement in every part of the house. Yet, focusing your remodeling dollars on the kitchen and bathroom is a smarter move.

Keep Your Endgame in Mind

When you're creating your remodeling budget, it's helpful to remember a key difference between remodeling a home to flip and remodeling a personal residence. An owner who plans to live in a property renovates to make the home beautiful according to personal taste. In contrast, when you're flipping a property, you're remodeling to make the home marketable. 

Focus Your Attention Where the Buyers Focus Theirs

Kitchens and bathrooms are the rooms that home buyers are most interested in. They're the rooms that buyers are going to take the closest look at. You're putting most of your renovation budget into the kitchen and the bathrooms because they're going to sell your property.

Why Remodeling These Rooms Is Expensive

Much of the money goes toward materials and finishes. Architectural Digest estimated the cost of materials and finishes represents at least 50 percent of the budget for a typical kitchen remodel. Renovations that require electrical upgrades or changing the plumbing layout increase costs.

The Rest of the House Doesn't Need as Much Attention

You may be thinking that no one will buy the property if you don't spend much on renovating the rest of the house. The other rooms do need to be clean, clutter-free, and freshly painted in neutral colors. Those improvements are not expensive and they'll appeal to buyers.

Remodeling for Return on Investment

An appropriate remodel takes into account what buyers expect to see in kitchens and bathrooms in the community where the property is located. Meeting those expectations increases the demand for the property. Falling short could result in a property that sits on the market. 

As for the numbers, kitchen and bathroom remodels can provide a significant direct return on investment. For instance, Remodeling magazine's 2020 Cost vs. Value Report indicates a minor kitchen remodel provides a 78 percent return on investment.