The main aim of any property investment is to increase its value. Every year the prices of the property go up to new levels. And to add to that, you can do some value addition yourself. Consider increasing your home’s value through low-cost ways like decluttering, painting, grooming your backyard, and some high-cost ways like in-depth renovations. Before you do any renovation or value addition, make sure that you do not overspend to get fair returns on that investment. A research of your area on how much your property would be worth after the renovation is an advisable thing to do; it is referred to as After-Repair-Value or APR. This way, you know how much money you should put in to get the desired returns. Let’s check out what all you can do to enhance the value of your establishment.
Add Usable And Visual Square Footage
The homes are priced and valued by the livable space available in terms of the square foot. In other words, the size of your house determines the value of your home. The larger, the better. This is all the more applicable in areas where land is limited and expensive, like adding a separate suite to the house or adding a floor. Many times, not just the actual footage but also the visual footage makes a difference. Visual footage means how big the home feels. To do that, replace heavy curtains with light vertical blinds or shutters to add more light to the room. Adding in large mirrors will also help a room feel more open and spacious.
Clean And Declutter
This may seem like a very trivial idea, but this increases the house’s value smartly since you do not have to put in a lot of money to clean and declutter. But it is undoubtedly tedious and time taking. The best way is to start with things that you haven’t used for many years. Please make a donation box and keep putting those things you do not need or want. With a little bit of patience, you’ll be able to declutter and clean your cabinets, closets, drawers, and other storage areas.
Similarly, clean the other areas of your home, too, like, garage, backyard, garden, terrace, and staircase. Once in a while, hire a professional cleaning service for deep cleaning inside and outside if necessary. Cleaning and decluttering also increase the visual footage of your house, making it look more spacious.
New Paint And Flooring
Paint is one of the simplest and most affordable ways to make an upgrade to your house. It will spruce up your home by making it look newer, cleaner, and more attractive to potential buyers. Freshly painted exterior walls increase the curb appeal of the property. Apart from aesthetic benefits, paint also protects your walls from moisture, which leads to mold and mildew formation, which damages the wall. The life of the woodwork also gets extended as paint protects them from insects, especially termites.
Similarly, just as you take care of the walls, pay attention to the flooring as well. It would be too stressful for the buyers to buy a house and replace the flooring before moving. So have the flooring cleaned or even replaced if necessary. Put some new rugs, carpets, or linoleum floorings in areas that show the most wear and tear.
