Tips to drastically increase the value of your home
Everyone knows that property is an investment but not everyone is properly informed on how to maximise theirs. The condition of your home and surrounding estate is of vital significance and you can’t expect to make a profit off of, or even necessarily break even on, your property if you allow it to fall into a state of disrepair. Fortunately, this is obvious to most people and they recognise that maintaining a property in good order, with the occasional touch of paint and a garden service, is much more cost effective than allowing it to fall apart and then having to do major repairs before trying to sell it.
What all too many people forget though, is that adding in some additional features or modernising aspects of the house can dramatically increase its value – leading to an impressive profit when you decide to move on one day, as opposed to simply getting your money back. You can’t make money unless you’re willing to spend money though, so it may be time to start a Home Improvement Fund and get to work as soon as you can on some of the following.
Modernisation: So you bought a house with old fashioned cupboards, quaint 60’s wallpaper and slightly chipped plaster. You might think the place has a wonderful antique feel, or perhaps that’s the line the real estate agent used on you, but here’s some breaking news. As those quaint chips and dented old built in cupboards continue to degenerate, so is your asking price. It’s time to modernise and replace the aging tapestries,fireplaces and crumbling wallpaper, one piece at a time.
The Kitchen: This room is possibly your biggest selling point and if the potential new woman of the house doesn’t like it, then your sale isn’t going to happen. Ensure that all of the built-in cupboards are clean, well painted and properly made. If your flooring isn’t looking very nice anymore then it’s time to rip it out and put in something fresh. To really make an impact you should look at removing old fixtures like the sink, appliances and countertops, replacing them with something new and modern, such as the old stove with a Godin. The obvious things like fully functioning plumbing fall under the maintenance category, and should need no mention.
Put in a pool: This is very costly but you won’t lose money on it in the long run, in fact you may very well make a profit. If you have the money straight after buying the house, and you like pools, then considering putting it in immediately. This makes more sense since you’ll get years of enjoyment out of it before you even get to the point where you want to sell and move on again, and at that stage you’ll get some cash return on your investment as well.
Landscaping: Most people make the mistake of underestimating this manoeuvre. Well planned and carried out landscaping can boost your property value from anywhere between 5% – 25%. Ensure that your expert has planned his design to compliment your architecture, perhaps by creating a stunning vision of foliage and water features which frame your home gorgeously from the front.
