No matter how big or small your budget is, there are always ways to increase the value of your investment property. Whether you’re looking to make updates for efficiency, improve aesthetics, or just make general miscellaneous upgrades, following are some ideas for boosting your property’s worth.

Roofing
If you suspect you may be selling your property any time in the near future, consider your roof’s condition. Yes, this is a high-ticket item (approximately $10,000 to $15,000 to replace your current roof), but it’s also one of the first thing inspectors, real estate agents, and potential buyers will look at. Even if your roof isn’t in need of repair at this precise moment, chances are your property value will go down if buyers think that they may have to re-roof within the next few years.

If your roof is on the older side but not quite ready for replacement, consider getting a roof certification. For the comparatively inexpensive price of about $250, a roofer will guarantee that your roof will not leak for two years—and if it does leak within that period, he will make the necessary repairs free of charge.

Energy Efficiency
When the time comes to replace unit appliances, you should strongly consider installing energy-efficient upgrades (such as EnergyStar). This is a great selling point for tenants and buyers alike and it will also pay off on a month-to-month basis that really adds up in the long run. If you are covering your property’s electric bills, energy rates can be cut down significantly with energy-efficient appliances. Also, many states offer significant rebates or tax credits for upgrading to energy efficient or green appliances, which means that you may actually pay less for eco-conscious new appliances than you would for their less efficient counterparts.

Greenery
This may sound silly, but trees often drive up the price of property based on their aesthetic appeal and because the shade they create can result in a significant energy savings. Even better, planting trees requires an extremely nominal investment on your part (some cities even have programs that provide free trees for planting). Select a low-maintenance tree that offers a lot of coverage and be sure that you carefully consider where to plant it (unwieldy tree roots may cause significant damage to your property). Visit your local nursery for suggestions and planting tips.

Painting
Many states require that you paint the interior of your units on a regular basis (such as between tenants). But have you painted the exterior of your property lately? This is one of those visual cues that will tell potential buyers and tenants whether they are dealing with a property that is well maintained or not.  (Along the same lines, colorful flowers and clean gutters and windows also make for great curb appeal.)

General Upkeep
General upkeep costs only a little bit but can pay off big in the long-run. Stay on top of things like squeaky doorknobs, torn screens, and other miscellanea in your units and the building’s common areas. This will both help prevent against more significant repairs down the line and will help keep your property in top-notch condition at all times.

These are just a few of the countless things you can do to ensure the price of your investment property continues to move in the right direction. If you’re looking for new ideas, open houses (particularly for comparable properties) in your area are a great way to consistently generate new ideas for improving upon your investment.