As a new real estate investor in New York, looking at the competition can feel pretty intimidating. You may see beautiful high-rises filled with expensive-looking units that are renovated with all the latest appliances. You might feel like you couldn’t possibly attain the sleek look these buildings achieve to lure in those residents looking for modern digs. But you’re also not satisfied to stick to cheaper investments and houses outside urban centers like New York. You want to prove you can show up and present rental property that fits a contemporary, stylish aesthetic.
With choice upgrades and an eye for combining a handful of small touches, you can benefit from the same design flair as your competition. The key is identifying the elements that you can install room-to-room with modern taste by making cost-effective adjustments. Doing this can ensure that your properties feel fresh, contemporary, and desirable to your target market. And, the good news is that you don’t need to shell out exorbitant amounts to match the elegance of expensive competition. By matching their style without matching their costs, you can effectively provide an attractive alternative for people looking to spend less on a place that still looks great.
Color Conscious and Texture Savvy Design Ideas
A large part of the modern aesthetic is determined merely by color. It’s a task of your renovation that you were already planning on, and by following suit with other popular units in New York, you use simple paint to help align your property with the style of higher-priced units.
Presently, blogs, magazines, and websites that cover New York interior design are praising green as a popular newcomer for 2017. It exudes freshness, like a rich forest, while also relating to the classic evergreen style of earth tones. It has an overlooked versatility. The best thing about using this tidbit is it won’t cost you anything extra to be on trend. Try using green as an accent wall in the kitchen or living room to help add visual interest and open the space.
Another fashionable choice growing in popularity this year is faux textures. They provide the same look as their authentic counterparts, but they’re actually more durable and they’re cheaper—an easy choice for a new investor on a budget. For example, wood provides a nice, trendy accent in the kitchen. Researching various style blogs and magazines will reveal the popular color schemes that you can replicate by simply choosing the right paint.
Thinking Big Means Thinking Small
As a new investor operating in New York, it won’t take long to figure out that a lot of the property in your price range comes in smaller packages. Since New York is one of the most compact places to live in the country, its designers have become innovators in the world of minimalism and creatively maximizing storage options. If you want to seriously grow your real estate business, you’ll need to mind the limited space you may have.
Designers have all kinds of tricks up their sleeves to make small spaces feel roomier. Options like recessed lighting and sliding doors do wonders to make a small space feel bigger. Mirrors are another great way to make a space feel larger, removing the blank image of a wall and replacing it with a replication of open space. To the same end, you can use large windows, as well as fewer walls and doors, to expand the appearance of space. It’s more about smart arrangements and design than spending money, which makes it an ideal approach for smaller budgets.
Never underestimate the power of clever storage features, either. Simple little touches like hanging bike racks or extra hidden storage in closets or kitchens can go a long way toward swaying a potential New York buyer, who will be well aware of the space limitations that city dwellers face. They will appreciate your foresight when it comes to maximizing the available space.
More Eyes On Your Investment
As a relative newcomer, despite the helpful tips and tricks to make a trendy aesthetic work on a budget, it might still feel a little daunting. With so many choices and styles to review, it’s easy to catch your head spinning instead of working on your layout. That’s when a team of professionals with years of experience comes in handy to help design your property for sale on a budget.
The mentors at HomeVestorsⓇ provide expert advice for both fashionable renovations and the materials and contractors to make it happen without breaking the bank. To compete with popular city high rises, you’ll need top-notch design, and more minds thinking up the best ways to achieve it will only help your property become more competitive. Joining a team where you can depend on the availability of other investors for their professional opinions whenever you need them proves an invaluable tool when shaping a New York property into a sleek and stylish home.
Each franchise office is independently owned and operated.
Prior to joining HomeVestors, I spent 20+ years as a senior corporate executive. The money was good but I just no longer enjoyed what I was doing. I had been looking at HomeVestors for a couple of years but they were not offering franchises in N.J at that time. I had zero experience in real estate investing and was impressed with the training and support HomeVestors offered. HomeVestors opened up the NJ market in February 2007 and I started in July. Best decision I ever made. We got off to a fast start and have purchased a couple hundred properties since. We could not have done this without the training, systems, marketing and support HomeVestors provides. We haven’t looked back since. We became Development Agents in 2010 and really enjoy working with new franchisees when they come on-board and helping them build a successful business.