4 Ways on How to Increase the Value of Your Property
When you own a property or invest in a property, it is always wise to understand its market value and know how to increase the value. Whether or not you are planning to sell your property or just doing some future planning, it is vital to understand how to increase your property’s value as well. Every investor has this goal and mindset when it comes to property investment, which is the goal of increasing the worth of the property. Of course you would want your property to be worth more than when you purchased it. Here’s how you could do it.
Renovating and Beautifying the Exterior of the Property
Upgrading the first impression of your property does matter, because humans are visual beings and will be attracted by appearances. When you’re selling a property, the little things can sometimes bring the biggest impact. You may be thinking that it is expensive to renovate the house and not many people are willing to do it, but actually it really does increase the value of the property.
Repainting the exterior sounds simple, but it works wonders. Repainting it over a coat of old paint makes the property look newer, and is more appealing to the eyes. Neutral colours will always go right.
Making sure your lawn looks tidy and clean is also important to attract the right buyer. Also, make sure your entrance and gate is clean. Don’t underestimate the power of a front door. People make decisions based on first impressions. Weed your garden. Repair your old doors, handles, doorknobs, garden lightings and so on.
Keeping Up on Regular Cleaning, Maintenance and Repairs
A clean home is attractive and appealing to potential buyers like a magnet. Keep up on regular cleaning, and reach out to clean hard to reach areas like cobwebs or dusts on the ceiling, stubborn dirt-trapping areas and so on. It is not attractive when your property has strange odours, garbage or dirt.
Before thinking about a fancy upgrade of the house, keep up on fixing the simple things, for instance, repair the leaks from the sink, repair leaky windows, replace faulty door knobs and cabinet handles, fix the squeaking sound of the doors and so on.
Upgrading the Kitchen
This may sound unbelievable, but upgrading the kitchen actually generates the greatest returns, according to many real estate experts. This could be because potential buyers mostly intend to live with their family, and are looking for a warm and welcoming family home. It does not have to be a fancy refurbishment, you could start with the simple things, like improving the kitchen lighting, getting your floors polished and cleaned, fixing the sinks, fixing the cabinet handles, improving the ventilation, replacing outdated cooking appliances and so on.
However, you do not have to splurge on new and costly appliances like the microwave with the latest technology, sometimes having low or medium priced, well-maintained appliances do attract buyers as well.
A simple paint job for the kitchen does wonders too!
Enhancing the Bathroom
Other than the kitchen, the bathroom is the next potential area for a good return on your investment of your property. Potential buyers would be delighted if the bathroom is of good quality as it reflects good care of the property.
The bathroom is one of the most used areas at home, and hence, do expect that there will be lots of wear and tear. Hence, you may want to maintain and keep the bathroom functioning well during your stay there as a resident so that along the way you will be able to maintain it.
Look out on broken items and repair them, such faulty sink, bathtub, shower, toilet bowl,and the drainage areas. Replace the rusty old pipes. Remember to also clean the toilet thoroughly and scrub on the shower tiles.
Another way to increase attractiveness and value of your property, is to change the old tiles to new, attractive ones and play with the textures, if you have the budget. Repainting the walls with a simple colour change, as this could also greatly impact the overall outlook of the bathroom. Try to install some stylish lighting, and also a bathtub as it gives a luxurious touch, like how you are attracted to a luxury hotel with a nice bathtub.