A house or property is one of the best investments you can own. This is partly due to the fact that in most cases real estate is gaining value. However, the total value of your home can depend on a myriad of other factors besides age. These include size, design, attractiveness of the curb, functionality, maintenance requirements and the general maintenance condition. Regardless of whether it is the house you are currently living in or an old property that you have just bought, you can take various measures to increase the market value. Even in your own home, there may be a point where you need to use it as collateral for a loan or use your home equity. In this case, the loan amount you secured depends on the current market value of your property.
In short, there are myriad reasons someone might want to add value to their property. But the big question is, how exactly do you go about it? What can you do to make your property more competitive in the real estate market? From simple updates to more complex changes, here are some simple hacks and ways you can add value to your property.
1. Clean and tidy up
Especially when it’s on the market, one of the easiest and cheapest things you can do to add value to your property is to keep it clean and tidy. Obviously, a clean house that is free from unpleasant smells will be more attractive in the eyes of investors and buyers. Periodically overhaul to remove dirt, stains, mold, and garbage from various parts of your property, including the outside area. Using this routine will also make it easier for you to sell your property.
2. Upgrade your roof
We all know how important the roof is, especially when it comes to safety and comfort. In addition, the roof is one of the things that buyers in real estate consider before making their purchase decision. This is mainly because they are the first features that potential buyers notice when they also look at your property from a distance. Because of this, the roof is a major dictator of property value. On the other hand, various sources including the heat of the sun, rain, wind, storms, ice, dust, etc., hit the roof properly.
Over time, the integrity of your roof can suffer and thus affect the value of your property. With that in mind, one way to increase your property value is to repair or replace your roof. Kyle, project manager at Fast recovery According to Roofing, proper installation is a must to extend the life of your roof, and maintenance is paramount. Depending on the current shape of the roof of your property, minor updates such as repairing the gutters, installing siding or sealing leaks in large projects such as replacing the entire roof can significantly increase the value of your property.
3. Work on your landscaping
Well, after the roof, your landscaping is the other important factor by which you can judge your property. There is a general saying that what is seen from the outside reflects what is inside. Imagine a property with an untrimmed hedge, overgrown lawn, a discolored letterbox, and unattended sidewalks. Now imagine another piece of land with a lawn that has been mowed, its hedge well trimmed, ornamental plants on the sides of the sidewalk, and its mailbox looking neat. Which of these two characteristics would you like more? Of course, it’s the second, and these are landscaping tasks that don’t cost you a lot, but add a lot to your property’s value.
4. Renovate your kitchen and / or bathroom
Well, the kitchen and the bathroom are two of the most important rooms in a house. Improvements in these rooms automatically increase the value of your property. Depending on your budget, your needs and the overall appearance of the room, the projections for remodeling your bathroom or kitchen can range from simple improvements like glazing cabinets to adding new cabinets to installing new lighting fixtures and appliances, sinks, bathrooms , Taps, floors and even wall art. Sometimes all you need is a few changes in the room layout. As for the value of your property, you will never go wrong with professional remodeling of your bathroom or kitchen.
5. Think about whether you want to repaint
Sometimes all you need to bring your property back to life is a coat of paint. The exterior of your property can be boring, faded, stained, or outdated, and there is nothing appealing about it in today’s property market. Try neutral colors, especially outdoors, to make it attractive to a variety of potential buyers.
6. Change or update your doors and windows
In addition to ensuring security and functionality, the windows and doors of your property can make a major contribution to determining the market value. To increase your property value, you can change your doors and windows and upgrade with versions that guarantee a higher level of security while creating space, letting more natural light in and improving the overall aesthetics of your home.
7. Add energy efficiency features
Today, energy saving is a global phenomenon. Everyone wants an energy efficient home, which means adding energy efficient features can be vastly to your advantage in terms of property value. Some common upgrades you can do to improve your home or property Energy efficient could include:
- Switch to energy efficient windows
- Plant a green roof
- Add improved loft insulation
- Installation of energy-efficient HVAC systems and devices
- Conversion to LED lighting
- Sealing cracks and spaces in your house
These are just a few of the many projects with which you can improve energy efficiency and increase the market value of your property.
In summary, the value of your property is determined by a variety of factors. And honestly, there is always something you can do to increase the resale value of your property. In addition to the above, you can, for example, update your flooring, install background images, add smart home features, install CCTV, and the list goes on and on. All in all, you need to develop a workable plan, start with priority improvements, and take it slowly. Hopefully, you can borrow ideas from either of the two hacks above!