I need to renovate an old property (5 rooms house, ~100sqm) that I intend to rent out but don’t have the money for a full renovation. I am paying interests on the mortgage so I’d like to fix the place up as soon as possible and find tenants, but I need to find a balance so that I spend as “little” as possible while maximising the rental yield.
Some things I must do, like renovate the electricity system, paint everywhere and redo the bathroom. Other renovations are optional, so I’d like to hear your opinion on what could bring the most bang for the buck:
1 - new kitchen (current one is ~15 years old with stone counter top in a decent state, but it’s small and without dishwasher - a 45cm dishwasher will be installed in case I decide to leave the old kitchen)
2 - remove wall between kitchen and dining room to allow more light into the dining room and have a kitchen island as separation (probably need architect/engineer to make static calculations and possibly install a beam to bear the weight currently carried by the wall)
3 - new guest WC (it’s small and right below the main bathroom, so probably good to do together with the other one, need to still check for asbestos)
4 - install new floors in living/dining room (currently old parquet that would look nice after sanding, but which makes sound when walking on it)
5 - change all doors in the house (currently these are original, wooden doors but they have been covered in plastic, which is now coming off and needs to be removed, then the door sanded and painted… got a quote for ~300CHF/door)
6 - remove wallpaper and fix walls properly (abrieb) instead of painting over the old wallpaper
7 - install an EV charging plug (there’s a private parking place right outside the door)
8 - change all radiators so that they all look the same (now it’s a mix of old and “new”)
9 - install a heat pump instead of the oil burner (other option is to wait for Fermwaerme which should come in the next 3/4 years)
Also, do people still want the TV antenna plug?
Thanks for your thoughts!
G