Start talking to most real estate investors about design and their eyes will start to glaze over. This is to be expected as most are interested in leveraging their return by using other people’s money. However, there are ways to embrace design.
Not only does this help to breathe life into a real estate investment by helping a property to stand out, but it can also result in increased profits. With that in mind, here are five ways to embrace home design and make money.
1. Design for Living
Our homes are our castles and as such, they need to reflect the lives that we lead. For investors, this means finding a way to transform the properties they own to better serve the intended audience.
This could mean redesigning a single-family home to meet the needs of a multi-generational household. Or, creating a co-living space which caters to the lifestyle of today’s digital nomad and other young, urban professionals.
In the case of co-living spaces, these properties have become extremely popular not only in big cities but in other parts of the country where young professionals congregate. What sets this generation apart from previous generations is that they are seeking to mix fractional living arrangements with many of the amenities found in high-end apartments.
For investors, this means they can transform spaces which traditionally garnered lower rents into experiences for a marginal investment. What better way is there to embrace design and make money?
2. Organic Modernism
Shifting gears, developers are teaming up with designers to create a new form of minimalism. These spaces combine natural elements with clean lines through the use of organic materials. In fact, some style watchers see this as one of the hottest trends in housing design and for investors its just another way to set their properties apart from the market.
One reason is that embracing organic modernism usually means a lower cost per square foot during the build-out stage. While another reason is that the movement is an inventive way to reimage an existing house.
Just imagine, you’ve found the perfect investment home with the help of an agent who specializes in working with investors, like those at skystoneusa.com and then you can embrace organic modernize to transform a 50-year-old house into a thoroughly modern home while saving money and boosting the property value.
3. The Kitchen of the Future
Let’s face it, the American kitchen has always been at the forefront of technological advancement. It could be refrigerators in the early-20th century or today’s smart appliances, steam ovens, or even an outdoor kitchen perfect for grilling year-round.
From a design standpoint, the challenge has always been the integration of these “appliances” into the lives of the people using them. While an investor is more interested in the cost and then how much the market will allow them to charge for these enhancements.
On the surface, these might appear to be contradictory goals, but it turns out that design thinking is the best way to find the sweet spot. In this way a developer and transform an aging kitchen into a truly futuristic experience.
4. Repurposing
It could be a former private school into an apartment complex or it could be the opportunity to transform the symbol of urban sprawl – shopping malls – into something which can better serve the community. Either way, repurposing has become all the rage across the country. In fact, it just makes sense for investors and for designers, its an opportunity to reimagine how buildings keep up with changing times.
5. A Splash of Color
Nothing transforms a room like a fresh coat of paint. In many ways, this is the easiest way to breathe new life into space and for designers and investors adding a splash of color can change the way space is appreciated.
The best part, at least from an investor’s standpoint, is that painting is an extremely low-cost way to update a room. In addition, unique patterns and other enhancements can increase the market value of a property without breaking the bank.
While designers and investors have traditionally been at odds, embracing design by focusing in on the needs of who will use the space, organic modernism, updating kitchens, repurposing, or just a splash of color can have a massive impact on the bottom line.
This is something which more investors have become attuned to resulting in amazing properties which are not only utilitarian but also make life more beautiful.
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