Hardwood Upgrades Worth the Investment
ANNAPOLIS, DAVIDSONVILLE, EDGEWATER, CROWNSVILLE, ARNOLD, SEVERNA PARK, REAL ESTATE
Both hardwood and carpeted flooring can look great in any property. However, when that property is purchased by an investor whose intention is to make it a lucrative long-term rental, hardwood floors can have a real advantage over carpeting — for both durability and enhanced aesthetic appeal.
Yes, the initial investment is definitely more expensive. But hardwood floors are extremely durable: they withstand years of the toughest use (by even the roughest of boots!). By comparison, carpets tend to rip and stain easily. With replacement costs starting in the neighborhood of $3.50 per square foot that means their actual property management expense will usually be higher. The resulting value to present (or future) landlords can be considerable. Hardwood flooring also gives any property a higher-end feel to it, which could tend to attract higher quality tenants.
Landlords know that there are both good and bad tenants out there; only time can guarantee which kind will wind up in any given house. Although hiring a great property management company is one step that goes a long way toward keeping an income unit in great condition, over the years there is always a risk that some renters may cause damage, leaving the landlord or property management agency to deal with the mess after they move. And the fact is that any carpet can be ruined through one accidental stain — even by the most conscientious of occupants. Conversely, if hardwood floors get scratched, it’s a fairly simple matter to sand and re-varnish it a vacant property.
If you are an investor considering buying an income property in Annapolis, Davidsonville, or surrounding communities, give me a call to discuss today’s options. As an experienced and well-networked agent, I always have a number of sound referrals I will be happy to share with you.
I specialize in water front, luxury homes, new construction and relocations in Annapolis, Davidsonville, and surrounding communities. Let me know if I can be of assistance to you in making informed real estate decisions.
DEBORAH LAGGINI, Long and Foster Real Estate, Annapolis MD