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7 Tips to Increase the Value of Your Property
by Guest on Jan 25, 2021
If you are considering renovating or selling your property, it should be able to add value to the space. Several projects that are aimed at increasing the value of the home end up costing much more than you had estimated. However, it is possible to increase the value of the property without putting in a lot of money. Here are a few tips to help enhance the value of your property without breaking your bank.
1. Add a bathroom
Renters and buyers are attracted to homes with more than one bathroom. Even if there are only a sink and a toilet in the bathroom, it will add to the value. Your aim should be adding a new bathroom while sticking to the budget so plan the layout well and ensure that plumbing allows for it. Make sure you do not end up with an expensive project.
2. Improve energy efficiency
Whether you choose to live in the home or sell it, an energy-efficient property saves money. The best way is to insulate the home from the inside and outside. You can add double glazed doors and windows that prevent the fluctuations in temperature which ultimately adds to the electricity bills. With insulation, you ensure that the electric appliances cut down electric spending. If you have the budget, install solar panels as it can make the home eco-friendly and will reduce the bills in the long term. Thus, making it more attractive for the buyers.
3. Replace the appliances
If you want to increase the property value, the best way is to upgrade the appliances. However, it is not just adding home theatre systems or induction hobs in the home. You should think of creating a smart home. If you have the budget, you can fix anything from air purifier devices to smart lights and home assistant devices. This is the 21st century and there are many types of updates that you can bring into your home. Consider adding smoke detectors or security cameras if you want to sell the property in the near future.
4. Work on the basement and attic
Buyers are going to take a good look at the basement and attic in your property. If you only use it for storage, you need to repurpose the area to add value to the property. According to Tri Point Flooring, a company that specializes in hardwood installs in Raleigh North Carolina, you do not need to make complete structural changes to transform it into a livable area. Consider transforming it into a home office or make it a laundry room. Think of it as a functional space that works best for the renters or buyers.
5. Make space for storage
A lot of homes with built-in storage areas are highly valued. When you add storage space, it adds functionality to the area, and it does not cost you much. You need to be creative when creating storage space and consider the unused areas in your home. Take a look at the staircase and check if there is space below it. You can have drawers right there. Beds are ideal for installing under bed storage. Consider the open, vertical spaces in your rooms where you have shelves or cabinets.
6. Transform the walls
Paint can do wonders on the inside and outside of the house. Even if you are planning to sell the house, a fresh coat of paint will increase its value. If you are redecorating, get rid of the wallpaper and check for cracks on the walls. If all is well, apply a new coat of paint to make the home visually appealing.
7. Enhance the curb appeal
A wonder trick that does the job all the time is to improve the curb appeal. It is most often overlooked but improving the home’s curb appeal simply remains a matter of maintenance. You need to keep the lawn trimmed, fix the cracks inside the pavement, paint the exterior walls, or plant some flowers. Get as creative as you want with the decorations but before you go overboard, you need to keep the cost in mind. The aim is to add property value by sticking to a budget.
Increasing the value of your property is not difficult. If you plan well and keep the budget in mind, you can make the necessary changes to the property and make it attractive for buyers or renters. If you are planning to sell the property, do not go overboard with the expenditure. Consider what will improve the market value and what will not. Your property is your personal sanctuary, and you can choose to make any additions to it as long as it fits within the budget and adds value in the long run.
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