Features to Look for When Buying Shipping Containers

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StrategyDriven Tactical Execution Article | Features to Look for When Buying Shipping Containers

When you buy a shipping container, you want to ensure it serves its intended purpose. Whether new or used, a container should be free of rust and have a fresh coat of paint with smooth hinges. It is also important to consider where your container will be placed. If the trucks that deliver the container have to drive over mud or grass, it can cost you additional money.

Convenience

Shipping containers are designed with transportation in mind. Their size is perfect for large vehicles to maneuver them around, making it easy to transport them to different places. Shipping container sellers offer various grades of containers based on their aesthetics and structural integrity. Typically, “A-grade” containers have a fresh paint job, minimal or no dents, and ultimate waterproofing protection. “B-grade” containers may have a few cuts and surface rust, but they are still structurally fit for shipping. “C grade” containers are the least expensive but have more dents and significant surface rust.

Look for Norcal conex containers that have been refurbished to be as clean and functional as possible. You’ll want to avoid buying from other sellers with “As-Is” containers sight unseen, as this leaves the door open for many different types of wear and tear. Also, check if delivery options are included in the price of the container or if they are an additional cost. Ask about a return policy should you receive a less-than-expected container.

Size

Choosing the right size of a shipping container is an important factor in your project. Standard containers come in 20- and 40-foot options, which are large enough for most building uses. You can also get specialty containers such as high cubes or double doors. These can be a good option for those who want extra space. Another consideration when purchasing a container is the condition. The best choice is an “A-grade” container that has a fresh paint job, no or minimal dents, and ultimate waterproofing protection. It can save you money over a used container with marks that may affect the structural integrity of your home. It would help if you chose a container not used to transport fruits or vegetables, as it will have been treated with pesticides. The condition of the site where your receptacle will be placed will also impact your decision. Ensure the ground is hard and dry, and avoid rocky or flood-prone areas.

Safety

When buying a shipping container, it is crucial to consider the site where it will be installed. The location should have enough space for the container, and the ground should be firm enough to support its weight. It is also important to prepare the site before the delivery of the container. Another consideration is the condition of the container. The container may have been treated with pesticides or other chemicals depending on its previous use. These substances can permeate the floor and require remediation. Shipping containers (sea crates or conex boxes) are typically sold in various grades based on their condition. Examining the container thoroughly and understanding how the seller rated it is vital.

Value

One of the key features to look for when buying a shipping container is its condition. You want to avoid placing an order based on stock photos and ending up with a container in poor deterioration. That is why it’s important always to request a physical inspection. Also, consider the history of your potential purchase. If the container spent time traveling to harsh climates, it may show more wear than one stored in milder conditions. Another factor to consider is the door configuration. Standard containers have cargo doors on only one short side. However, double-door containers have doors on both sides of the short ends. You will need to determine which is the best fit for your project. Finally, avoid purchasing a container that is being sold as As-Is. With an on-site inspection, you will know what condition the container is in, and the seller will likely offer a warranty for this type of sale.

9 Ways to Increase Your Home’s Value

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StrategyDriven Practices for Professionals Article | 9 Ways To Increase Your Home's Value

A home is a valuable and often the most expensive investment for most people in their lifetimes. As an investment, you want to get the best return on it if or when you sell it. The good news is that most homes generally increase in value, provided they’re well-maintained.

While maintenance is an important aspect of home ownership, there are other, more effective ways to maximize the value of your home. By implementing these strategies, you can ensure you receive the best possible price when you list it on the market. This is crucial, as the proceeds from the sale can be used to purchase another home or invested in a specific project or business venture.

Most homeowners think that a home remodeling or renovation can help them boost their property’s value, and they are right. However, heedlessly renovating your entire home will burn a large hole in your pocket while not necessarily increasing your home’s value as much as you anticipated.

Thus, move forward with a proper plan in place. It’s important to understand that large and small renovation or remodeling projects can increase your home’s value if done correctly. For instance, installing an in-ground pool might cause its price to skyrocket. However, you can also expect a decent return on investment by upgrading your windows or getting a shower replacement for your bathroom. Especially if you’re trying to sell your home in the near future, these minor improvements can make a huge difference. And, no matter how small or large the project is, always consider energy efficiency. This can shave off huge chunks of your utility costs while also increasing your home’s resale value.

Let’s discover the most effective ways to boost your home’s value.

1. Add Usable Living Space

One of the most obvious ways to boost your home’s value is by increasing its livable space. After all, a home’s valuable living space is one of, if not the most important factor, when determining price. This statement is particularly true in areas where ample living space is valuable and rare, like New York City or Los Angeles.

However, please remember that adding usable living space is expensive and might require obtaining planning permission.

2. Lower Your Home’s Utility Bills

Utility bills can cost owners considerably in monthly expenses, particularly for larger and more opulent houses. Making your home more energy-efficient effectively lowers utility bills, making it more valuable on the market.

Your options are nearly endless. You can replace old windows with newer designs to lower your utility bills. In addition, purchasing energy-efficient appliances and adding more insulation can also make your home more energy-efficient. Simple installations such as a smart thermostat can also significantly lower bills.

3. Make It Look More Appealing

First impressions matter. Prospective homebuyers are less likely to pay the listed price for your home if its paint is falling off or the exterior looks outdated. Therefore, ensure your home looks visually appealing by painting it.

If your home is a relatively newer build, you might only need to paint a room or door. You can also do it yourself, saving on labor costs.

4. Doors Play a Role

In addition to making your home look more visually appealing with a fresh paint job, consider investing in your doors. An old, creaky front door will lower your home’s value, and replacing it is a good idea.

Similarly, research shows that investing in your garage doors is crucial because it can yield a 102 percent return on investment.

5. The Kitchen Is the Main Space

Many homebuyers and homeowners consider the kitchen the main space in their home. After all, a kitchen is one of the central features of a home. A home with a kitchen that maximizes space sells for a higher price.

Completely revamping and remodeling your kitchen might seem like the best way to approach this situation. However, research shows it’s not the most effective way because it requires considerable capital, and your home’s value won’t increase as much. According to research, complete kitchen remodeling costs $80,000 on average but only increases home value by $60,000. Thus, opting for minor remodeling might provide a better return on investment.

6. Add More Amenities

Another way to increase your home’s value is by adding more amenities. For instance, an in-ground pool can raise your home’s market value. Go the extra mile by pairing it with an outdoor kitchen or bar; your home’s value might rise by double-digits. Choosing the right amenities for your area is crucial. For instance, an in-ground pool will yield a lower bump to your home’s value in a place where the weather is too cold for swimming half the year.

While in-ground pools and outdoor kitchens are more costly to install, you can also opt for cheaper amenities such as a luxury showerhead or a Jacuzzi.

7. Staging Is Crucial

You could ensure your home is professionally cleaned with a new coat of paint and all the amenities in the world. However, if it’s not staged appealingly, then customers will be less impressed with all the amenities, meaning they’ll pay less for it.

Research corroborates this statement. A Real Estate Staging Association (RESA) survey found that staged homes sell quicker than non-staged homes, spending nine fewer days on the market on average.

8. Get Professional Cleaning

If you’re selling your primary residence, ensure your home is clean and decluttered. Clutter can particularly make your home look less spacious, affecting home value. While you can declutter and clean your home yourself, investing in professional cleaning before staging it is a better idea.

9. Focus on the Curb

Curb appeal can have a considerable effect on your home’s value. A joint study by the University of Texas at Arlington and the University of Alabama found that curb appeal accounts for up to seven percent of a home’s value. Therefore, ensure a professional has powerwashed your driveway, cleaned the windows, and mowed the lawn before selling. You can also enhance curb appeal by making landscaping upgrades, such as introducing shrubbery or plants.

Conclusion

As previously mentioned, a home is an investment. Whether you’re selling your primary or secondary residence, you’ll want to ensure you get a good return on investment. Thus, you’ll want to increase your home’s value before selling it. Utilizing professional cleaning, adding amenities, increasing living space, and properly staging it can help boost your home’s value on the market.

6 Renovations to Consider for Your Rental Property

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StrategyDriven Entrepreneurship Article | 6 Renovations to Consider for Your Rental Property

There is perhaps no bigger problem for a landlord than a vacant rental property. The loss of stable income, even for a few months, can create tough financial situations, especially if you live in an expensive state like New Jersey. The cost of living in New Jersey is 12% higher than the country’s average, according to RentCafe.

So, if property rent is your major source of income, a vacant property can give you considerable stress. In this situation, you must ensure your rental property stands out among its competitors.

Your rental house should be comfortable to live in, functional, and aesthetically appealing to attract the tenants but still provide enough options for them to design their own lives.

Certain renovations can make your rental property more competitive, enabling you to lure in more tenants.

Pro Tip

Remember, tenants will not always look after your property as you will. So, don’t consider renovations that you would for your own house. Make your rental home modern and functional without much effort and time.

Below is a list of home renovations that you can consider for your rental property.

Upgrade the Bathroom

The bathroom is often the focal point when prospective tenants visit a property, so bathroom renovation is a strategic idea. Inspect all the bathrooms in your rental property and determine what can be done to make them better. You can change the fixtures if they are leaking, lost the shine and appeal, or are outdated. Similarly, you can renovate the shower area or apply a fresh coat of paint.

However, your project’s cost should remain within your budget. For instance, in New Jersey, a typical bathroom remodel costs $6,500-$25,500 or more, depending on the materials you use and the scope of your renovations. While you can get a handsome discount on your renovations by hiring a reliable New Jersey bathroom remodeling company, you still need to consider the cost of the entire project and how it will translate into increasing the prospective rent.

Improve the Kitchen

Renovating the kitchen in your rental property is a surefire way to attract better-paying tenants and receive a great return on your investment. When it comes to kitchen renovations, it could be anything—better appliances, improved cabinetry, better countertops, etc.

A kitchen packed with mismatched appliances will instantaneously put off prospective tenants’ interest. Therefore, upgrading them is a great idea, though it does not have to be extravagant. There is no need to buy the most recent models and versions of kitchen appliances; just make sure they all look the same, give a coordinated look, and are fully functional.

The next option is improving the cabinetry. However, before spending extensively on replacing the cabinets, see if fresh paint can do the job—eliminate imperfections and give a renewed look. If the surface of the cabinet doors doesn’t look smooth, simply sand it before repainting and adding new and modern hardware.

Furthermore, consider replacing the existing countertop with a new granite countertop if your budget allows. A shiny countertop has such an impact that it can transform the look of your kitchen and even the whole house.

At the very minimum, choose a durable countertop material that can withstand the working environment in the kitchen, including scratches, heat exposure, and stains.

Improve the Curb Appeal

The exterior of your house is the first thing greeting your prospective tenants; therefore, it automatically comes under their focus. Given this, landscaping the front of the house, such as the lawn and entrance, can be a profitable home renovation project. The good news is that enhancing the curb appeal is an economical home renovation unless you decide to completely overhaul the exterior space.

To improve the curb appeal, plant new trees, repaint the front in a fresh color that goes with the color palette of the exterior, or add new lights. You can also plant new grass, trim shrubs and trees, or install new pavers.

Renovate the lawn, but keep it easy to maintain and inexpensive. Prospective tenants appreciate a well-maintained exterior, but not all might be excited to spend money on its maintenance after settling in.

Repaint the Interior

Repainting the walls is the easiest way to make your rental property look clean, fresh, and inviting. A repainted house makes it easier for prospective renters to imagine their life within its walls.

A house with faded and flaking-off paint looks tired and overlooked. Potential renters won’t want to pay for an unkempt and unattractive property. So, to ensure your rental house always looks clean and fresh, repaint its interior after a tenant has moved out.

When repainting, choosing neutral colors such as beiges, nudes, whites and off-whites, greys, and light blues is always safe. These colors blend with most house décors by offering a clean and spacious backdrop.

In contrast, bold colors make a place look cramped and restricted, giving fewer options for furnishings and décor. Also, make sure professionals paint your house to avoid uneven lines and avoid patches on the walls.

Add New Furniture

Furniture with broken edges, scratches, and faded polish does more harm than good. Instead of impressing your potential renters, it conveys that the homeowner has not maintained the property and has cut corners when providing a comfortable living environment. Plus, it signals that prospective renters might need to spend extra money to buy new furniture in addition to rent and the security deposit. This added burden might discourage them from renting your house.

On the contrary, introducing new furniture in your rental property can enhance its attractiveness and overall appeal. Beyond just providing functional utility, properly arranged furniture provides a readymade living space layout for the renters, enabling them to move in and start living immediately.

When selecting furniture, aim for a blend of contemporary trends, style, and functionality. The new furniture you incorporate into your rental property should make your house modern and cater to the practical needs of your potential occupants.

Think about adding a comfortable sofa, a sturdy dining table, ergonomic chairs, and ample storage solutions to transform a mere real estate into a functional and attractive living area.

Replace the Floor

If you can afford it, installing new floors in your rental property is a profitable home renovation project, increasing its rental appeal.

Hardwood is often the number one material when installing new floors in a property; it looks premium, modern, and easy to clean. Carpet, on the other hand, is the least liked option due to its ability to absorb smell, dust, and allergen, though it is more economical.

A tip: Keep the floors at the last option when renovating your rental property; it is an extensive and costly project. Other projects that can be completed quickly and require less investment can take priority unless the floors are in very bad shape.

Conclusion

Renovating your rental property can enhance its rental appeal. It differentiates your property from other options in the market, improves functionality, and improves tenant satisfaction. Strategically incorporated changes such as repainting the exterior and the front door, landscaping, adding new appliances, etc., can also increase the overall worth of your property.