Affordable Kitchen Upgrades for Income Properties

The kitchen is often referred to as the heart of any home, and it plays a crucial role in attracting both renters and buyers. While most people are aware of how kitchen renovations can boost home sales, what about income properties? The key is to modernize the space without sacrificing your potential earnings. To help spark your next investment idea, here are nine budget-friendly kitchen upgrades tailored specifically for income properties.

1 – Upgrade Your Hardware

Switching out door handles and knobs is one of the simplest ways to give your kitchen a fresh look. Ensure the new hardware complements the overall aesthetic of the house while maintaining a contemporary feel. Popular choices include brushed nickel and oil-rubbed bronze, but don't hesitate to explore alternatives such as copper, black, or traditional bronze if they align better with the space.

2 – A Splash of Color

Adding a new coat of paint can dramatically enhance the ambiance of a rental unit. Opt for a neutral shade that harmonizes with the cabinetry, flooring, and rest of the property. A semi-gloss finish is ideal for kitchens since it's easier to clean and maintain. If your cabinets require repainting, invest in quality cabinet-grade paint and primer to ensure durability.

3 – Freshen Up the Trim

Old or damaged baseboards and door trims can detract from the kitchen's appearance. Repainting them is a cost-effective way to refresh the space. However, if they're beyond repair, replacing them altogether is a budget-friendly option. A full set of white trim typically costs under $50 at hardware stores, offering an instant facelift. If you lack the necessary tools, hiring a professional to install the trim will only add a nominal expense.

4 – Resurface Your Countertops

Resurfacing countertops is an excellent choice for income properties due to its affordability compared to replacement. It works on various materials like tile and laminate, transforming them into something resembling natural stone without the premium price tag. This process involves no demolition and results in durable surfaces capable of handling heavy use. For further insights into resurfacing options, reach out to Maryland Tub and Tile.

5 – Elevate with a Stylish Faucet

Installing a new faucet can elevate the entire kitchen experience. Even though it might not be the first thing that comes to mind during renovations, a sleek faucet adds elegance to any setting. Faucets are straightforward to install and available in numerous styles and colors. Pairing it with matching hardware ensures cohesion in design.

6 – Energy-Saving Appliances

While this might seem like an unexpected entry on a list of inexpensive updates, energy-efficient appliances have become increasingly accessible. Replacing an old stove for around $400 can revitalize the kitchen instantly. Additionally, choosing energy-saving models reduces utility costs for tenants and enhances the property's appeal when marketing it for rent. Consider upgrading older appliances gradually rather than all at once to manage expenses effectively.

7 – Transform Your Backsplash

In smaller kitchens, updating the backsplash presents an economical opportunity. Unlike replacing floor tiles, this involves covering a limited area with fewer complications. Refinishing existing tiles saves money while achieving similar results. Matching the finish to the countertops creates a cohesive look at minimal cost. Alternatively, combining budget-friendly tiles with expensive accents allows for customization without breaking the bank.

8 – Go Luxurious with an Over-the-Range Microwave

When sufficient space exists above the stove, replacing the exhaust hood with an over-the-range microwave offers several advantages. At least 17 inches of clearance between the stove top and microwave placement is required. This modification frees up valuable counter space, giving the kitchen a more spacious feel. Although considered a luxury item, these microwaves are priced comparably to standard models.

9 – Refresh Burner Drip Pans

For a negligible investment—around $10—you can restore the appearance of an electric stove by swapping out the burner drip pans. Many landlords replace these items regularly upon leasing new tenants; however, this detail might escape notice for newcomers to property management. Showcasing updated drip pans prior to viewings can significantly improve tenant impressions.

Should you require additional guidance regarding kitchen improvements for rental units, contact Maryland Tub and Tile for a complimentary consultation session.