How would you increase the curb appeal?

Question

I owned this rental property since 2007 and am considering either selling, 1031 exchange, or cash out refi to jumpstart some better real estate investments. Part of that decision depends on how much money I need to invest in the house to sell. What would you do to increase the curb appeal of this house? I don’t think new siding is an option due to cost but painting the trim could be. The split entry style is actually very common for the area and the neighborhood, so I’m not too worried about that.

thanks for the help!

Henry T. · Answer

Have a landscaper make those bushes more uniform. and tighten up the yard generally. Brighten up the entry somehow. Better angles of photography will certainly help.  Make some test drawings with or without enhancements you'll come up with something. I think its a nice house, just needs a little here and there. Good luck. A good realty photographer is worth hiring, might have suggestions too..

Dave Foster · Answer

@Shannon Woodward, both of these can be a good option for scaling your RE portfolio, but ultimately, what aligns best with your financial goals.  When looking at improvements to the property, you also want to put the potential improvements through the lens of selling and renting.  Certain cosmetic improvements don't impact rents at all.  And in some cases, leaves you open to depreciating improvements or the extra cost of management.  This will go a long way to informing you on the path to take - whether ultimately you are looking to sell or keep.

If you think you could put the equity into something that would perform better than a 1031 exchange would be a great option and allow you to defer all of the tax and appreciation you've gained over the years you've owned the property, and reinvest it into another investment property/properties.  A refinance would work well, also.  But you need to stress test the performance after a refinance to make sure it's a good fit for you.  The other thing to consider is that, in a refinance, you'll only access 70-75% of the equity.  But with a sale and 1031, you'll have access to 100% of your equity for the next purchase.

JD Martin · Answer

Take down the bushes in front. They are completely out of scale for the house. Beyond that I wouldn't do anything but basic maintenance. I hope it's made a ton of money for you over the years. The architecture is horrible. The garage looks like a storage unit. The cantilever makes the entire house feel top heavy. The shutters make no sense on doubled or tripled windows. This house needs serious styling help you aren't going to be prepared to spend to make it look better so just stick to basics.

Theresa Harris · Answer

Drive around the area and look at other houses that stand out...in a good way.  The house doesn't look bad.

I'd remove some of the dark brown.  Paint the door a different colour, can you remove the half circle from above the door?  Put a pot with flowers by the door.  You could remove the two trees on either side of the stairs to open up that area a bit.  Perhaps paint the stairs (assuming they are already painted) a lighter colour.

How would you increase the curb appeal?

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