Zillow and Thumbtack have officially published results from their latest study, which focuses on those Millennials and Gen Z adults who have been priced out of homeownership and are now renting for longer, prompting many to seek out ways to personalize their not-so-temporary space. The stated study markedly reveals that these affordable, nonpermanent upgrades have helped quite immensely in allowing renters to give their space a more personal touch, while simultaneously instilling greater value within the property for their landlord’s benefit. Before we dig any further into the given survey results, though, we must acknowledge how certain home upgrades can contribute to more views, saves and shares per day when a home is listed on Zillow Rentals®, the most visited rental network. This, like you can imagine, goes on to aid the case of both the renter and the landlord. Making these adjustments all the more attractive is the fact that they cost less than $1,000, based on national average cost estimates from Thumbtack, the technology company helping millions of people confidently care for and improve their homes. Anyway, in total, the study reaches upon seven renter-friendly improvements that can prove to be helpful in the given situations. For starters, you can swap out cabinet hardware. You see, changing out cabinet hardware is one of the easiest ways to make a kitchen or bathroom feel more contemporary. More on the same would reveal a recommendation to choose half circles, fluted, or curved hardware for a fresh feel.
Furthermore, if we talk about color, the Zillow-Thumbtack study suggests using matte black finishes, as doing so can significantly modernize a space and help a rental listing get 25% more saves and 49% more shares per day on Zillow Rentals. As for the investment that is required, the cost of updating hardware or fixtures can range anywhere from $50 to a few hundred dollars. Next up, you can also enhance your property by installing open shelving. This is because, going by research-backed findings, rental listings with open shelving get 36% more saves per day on Zillow Rentals than similar units. Hence, with a national average cost of $275 for professional installation, open shelving allows renters to display personal mementos, art or books without adding bulky furniture that takes up valuable square footage.
Joining that is the recommendation to become a plant parent. In essence, plants have proven to improve a home’s air quality and boost a renter’s mental and physical health. To expand upon it, a small herb garden should be good enough for a home chef, a hanging eucalyptus plant can turn a shower into a spa, and succulents or cacti can add low-maintenance greenery. For outdoor spaces, on the other hand, a patio garden can boost a rental’s daily views by 24.2% on Zillow Rentals. In case you don’t or can’t have a patio, you can also use window or railing boxes to add color. Turning our attention towards the cost aspect, Thumbtack found the average national cost for a window box to be around $100-$150 in case of professional installation, with the material cost ranging between $15 and $900, depending on the type purchased. Another measure you can take here is painting a room or erecting an accent wall. Going by Zillow’s latest research on paint colors, darker hues are now preferred over white walls. Hence, assuming you can keep up with the times and get the color right, it can make a substantially boost a property’s value.
Hold on, we still have a few bits left to unpack, considering we haven’t mentioned how you can also upgrade lighting. This is because new lighting fixtures have shown to instantly change the mood of a space, and if anything, modern day LED bulbs and fixtures are 90% more efficient in realizing the same. Further enhancing the value of this action is a piece of data, which reveals that smart lights can boost daily saves by 22% and daily shares by 35% on Zillow Rentals.
Among other things, you can hang mirrors, as well as opt for peel-and-stick wallpapers.
