Gareth Henry Maximizes Your Money
The biggest trend in real estate at the moment is repositioning. This involves taking a property and changing it in some way to enhance either its aesthetic quality as well as the functionality of it or both. These changes can be applied to any type of property and they can vary greatly in both cost and scope.
It is easy for most people to add some cosmetic changes to a property, but before you take on any large scale renovations Gareth Henry outlines certain things to consider. Read more about Gareth Henry at EverybodyWiki
The location of the property you want to reposition is key. There are certain markets where both commercial and residential properties are in short demand, regions like the Bay Area,in particular Silicon Valley, and New York. The location within the city is also important. Gareth Henry believes that you are better off having a property that can be fixed in a good area than having a spectacular property in a undesirable neighborhood.
There can be structural changes made to a property that would include adding a swimming pool, or even updating the plumbing or wiring of older properties. One thing to consider when changing the structure of a property is what effect will it have on your current occupants during the construction time.
Before you undertake any repositioning Gareth Henry believes you need to have a plan in place. You need to analyze both the cost and time it will take to complete the project. It should also be weighed against any financial benefits you will get from the repositioning. There would be little point in spending thousands on repositioning if the result would be that you can only get a few hundred back each year.
According to Gareth Henry, repositioning is as profitable as ever and it should continue to be so for the foreseeable future. You just need to stick to some fundamentals to ensure success.
Find out more: https://medium.com/@garethhenry