Creating more value

[Mathew Morford]

I have some ideas with my property and I am wondering if its worth doing to create more value or if it creates value at all.

I have a small property and I am thinking of selling or getting a HELOC so I am in the middle of remodeling the house to create more value. That being said, I was wondering if little things like; creating storage under a stairway, adding recessed lighting, automated technology fixtures/features (Alexa, Google, etc), little things like that. Does that create more value or more of a "window shopper" interest? Obviously, stuff like; paint, new flooring, new kitchen cabinets, etc.

Im mainly wondering about the under the stairway storage and the automated technology. I have some light switches that have built in Alexa and Im wondering if that creates more value or if its even worth my time doing? 

Thanks in advance

Mat

[Jaron Walling]

@Mathew Morford I grew up in rural Indiana near Kokomo. It sounds like you're slowly flipping this property? Some of the upgrades you mentioned (specifically the smart tech stuff) only help for new home buyers (window shoppers). Your post reads like a highlight description for a new listing. Recessed lighting is must in 2024. Under stair storage is a bonus. The more "things" you add the more attention your listing will get but you need a cut-off. That's where your budget comes into play. Otherwise every flip would be full of custom detail every buyer would want. Finishing details is the most expensive part of remodeling property. The final 10% hurts the worst so limit this and profit more. 

LTR and most STR don't have these things. It's another thing that breaks or needs maintained. Tenants won't take care of it. I'd go basic outside of LED lighting, new cabinets, 1-and-done projects, and repairs if you're aiming to BRRRR. Cheers.