Apartment & Multifamily Housing Construction & Renovations
The growing demand for multifamily housing and apartment rentals have contractors, builders, and developments, struggling to keep pace. While just about every metro area in the Southeastern United States, Florida, Georgia, North and South Carolina, have projects underway, challenges still exist.
There are a number of factors that come into play when it comes to staying in the budget on your project. From labor, building materials, types of amenities, to the walkability within the community.
Apartment and Multifamily Housing Construction
Drawing in renters with renovations, upgrades, and amenities, goes a long way to navigating a successful multi-family housing project.
But the question, which construction project will have the highest return on investment?
For instance, according to the National Multifamily Housing Council, Millennials are looking for washing machines and dryers in their unit, pools and fitness areas. While a great deal of Baby Boomers like to have a party or lounge room in the building.
Simple upgrades can enable renters to feel their unit fits their needs and lifestyle.
Put yourself in your renters shoes. Is your multi-family property keeping up with the latest trends?
It can be challenging to set your apartment and multi-family housing apart from the other properties on the market. Investing in a few luxury touches can help draw in new renters and retain existing ones. As well as getting top dollar for rent.
Appeal to a diverse demographic of renters with smart upgrades. Both Millennials and Empty Nesters want a centrally located apartment, where shopping and dining are close, even walkable. Well lit walkways and professional landscaping.
Sprucing up and adding a few amenities can go a long way. New interior and exterior paint, updated flooring, windows, doors, cabinets, lighting, refinishing the swimming pool, and adding a new roof, are all great investments. As well as the addition of an exercise room, yoga studio, common areas, and outdoor recreation.
Offering a ‘Green’ lifestyle with eco-friendly appliances and windows, green energy, solar roof, attract the new renter. Many of them come with tax credits.
Today’s renters expect cutting edge technology. More than just Wi-fi in common areas, but smart thermostats, smart lock systems, security, surround sound, digital showers, and reduce energy with smart vents.
Before you invest in remodeling and upgrades in your multi-family housing, think about the renter and what appeals to them. Smart changes can increase the value of your property.
As a leader in the industry, the team at SWET Construction Group can help you protect your investment. We are a full service company who understands the big picture and well as the small details.