If you’re looking to improve your chances at selling your property or thinking of ways to increase your property value, it’s easy to overlook the simple. Many homeowners looking to re-sell their property tend to obsess over grand renovations, or tearing down their property and selling a plot of land instead.
Drastic changes to your property might only result in you spending more just to sell it. This shouldn’t be the case as there are many ways to increase your property’s resale value. From a low budget to something that requires a little more investment, adding worth to your property only takes cleverness and organizing.
Here are some strategies to increase your property’s value:
Low Budget Solutions
A low budget doesn’t mean low quality. Your budget may be tight, but these tips are simple and concise enough that you can do it even without a large capital to start with. However, you also need to temper your expectations: these tips won’t multiply your property’s value tenfold. What it does is prevents your property from depreciating, and even making it more appealing to would-be buyers.
Clean Your Property
Of course, the first order of business to make sure the property you’re intending to sell is clean. This is of particular importance when presenting it to potential buyers. They won’t be able to appreciate it when it’s a disorganized mess with clutter everywhere.
Repaint the Walls
Moldy, yellow walls are unappealing and will simply make any house look drab and lifeless. Liven up your property with a bright color that makes it inviting. When you’re holding an open house for potential buyers, you want them to feel that the house is a welcoming space. After all, who wants to live in a boring and stale home?
Do a Quick Redesign
If the property you’re selling is currently being used, then consider doing a quick redesign to make it more appealing to potential buyers. Through the proper and wise placement of things like furniture, appliances, and other things, you can make your house seem larger or even more beautiful. While doing this doesn’t necessarily add ‘value’ to your property, it does make it a very interesting one that’s worth buying.
Small Investment for Big Results
Of course, if you have a bit of money to spend, then it can contribute to your property value significantly. Through the appropriate use of money for renovations, you can definitely bolster your property’s worth. Here are some ways you can spend your money wisely.
Add more space
Nothing adds to the value of any property more than usable square footage. However, you’re limited to your current available space. And unless you can purchase the land beside your property, then you won’t be adding any extra square foot.
However, you can invest in turning space in your house into usable space. You can opt to turn your attic into a loft or make your basement into a livable space. Conversions such as these add significant value to your property, making the investment for installing or converting the space very much worth it.
Change the Flooring
The flooring of your property plays an important role in not just the experience of living inside it, but also in potential buyers’ eyes. Consider what kind of flooring would work best in your property. Since flooring is an expensive addition (which many homebuyers aren’t too keen on making after purchasing a house), it adds a considerable amount of change to the base value of a property.
Remodel Important Rooms
One of the things many homebuyers look for in a house is a good kitchen or bathroom. Consider remodeling your kitchen, especially if it’s due for an update. Consider remodeling your bathrooms to reflect modern aesthetics too. They might sound like added expense on your part, but these are actually crucial parts of what makes a property expensive.
Use Smart Technology to Make it Better
Recent technological developments have advanced far enough to exceed the science fiction literature of the 70s. The Jetsons house isn’t just a dream anymore, it’s now an actual reality. Thanks to smart technology, homes can have amazing self-functioning technology, such as smart thermostats, fire and carbon monoxide detectors that can warn you through your smartphone, highly efficient security cameras, and more.
Of course, you don’t have to install a complex smart home system to make your property value increase. However, adding a bit of technology to your house can do a lot in increasing its resale value or at least making it appeal. Consider adding something simple, like smart lighting or smart locks, as these are very useful items that people will appreciate.
Increasing your property value isn’t very hard. All it takes is a little bit of creativity and cleverness. You might need capital to renovate and install improvements, but it will be all worth it, especially when you’ve closed a sale.