When it comes to getting your property ready for sale, it is important that you spend your money on projects that will positively add value to your home. It is the goal of any property investment to increase the value; you want it to worth more than the time you bought it. Otherwise, there is a risk that you might end up alienating prospective buyers with features that they may not require. With the right idea and hard work, you can easily increase the value of your property without having to spend a lot of money. Also look are organisations offering free property appraisal.
Make plans for remodelling
The fastest way to increase your home value is by planning. If you plan and redecorate the place intentionally, not on impulse, your upgrades will bring more value to the property. Think about it slowly and take your time. Make a list of things you wish to see remodelled and updates you want to make.
After sorting everything out in the list, start organizing according to how much it will cost in terms of money and time. Be very realistic about it. Once categorized, look at the list and prioritize what can be taken care of practically and which are do-able fantasies. Balance it reasonably.
Spend time and money with a professional interior decorator
Inviting an interior designer can give you a lot of ideas to improvise when it comes to redesigning your property. Most interior decorators charge according to hours spent, and a single hour can give you a lot of ideas. Even a small idea like furniture placement or paint job can go a long way towards improving the look of your estate.
Work on one room at a time
Do not attempt to handle two to three rooms in one go. Whether it is a simple paint job or knocking off the wall, handling one room at a time keeps you organized and your work achievable. Take a look at your list and figure out which jobs will take the entire day or just an hour. By strategizing, you will see each room getting transformed before your very eyes.
Get the basics up and running
Before installing a fancy upgrade to your room or kitchen, it is important that you address the basics first. Repair plumbing leaks, insulate the attic, inspect the furnaces, repair broken doors and windows, replace rain gutters, weed the garden or lawn, etc. These kinds of fixes go a long way and can add substantial value to your property. Investing in repairs is crucial for a sale; it is said that the sale of real estate property depends on how well the repairs have been carried out. Cleaning the house can give you an idea of what needs repair and what does not. If repairing and maintenance is not your cup of tea, do not hesitate to hire professional help.
Market it well for your buyers
Perhaps, the simplest way to increase the value of your property is to make it appealing to a large number of people. In simple mathematical terms, the more people want to buy your property, the higher is the demand, thereby increasing the value proportionately. If fewer people want your property, the chances to create a bidding war falls and people will have time to haggle.
Different people have different expectations and ant different things. Some want to buy a one-bedroom apartment in the city while others want different properties in the suburbs. Your area and the type of property will be the deciding factor for your market. Talk to a real estate agent and get an idea of what kind of property are people searching for in your vicinity and type of property. Use this information to your advantage and give the market what it wants. If people are searching for an estate with a backyard, design your backyard as such.
Banks will not be ready easily to overvalue your property
Banks won’t simply add $100,000 for a simple paint job. In the business of making money, banks will undervalue properties to lower their risks. Design your property and try to appeal to the widest market. They will value the property appropriately.
Do not add your own taste
Make sure you paint the property in neutral colours like mochas and creams. One of the many reasons is that most buyers may not like your idea of using bold colours like blue or red. You need to renovate the property for the market, not yourself. Your taste might look beautiful in your head but may not work well with potential buyers. Hence, your taste does not really matter.
What can be seen adds more value
Several old properties require a lot of structural works to keep them up to market standards. But, you need to work on things that can be seen like a paint job, the look of the property, etc. rather than things that cannot be seen like electrical jobs, restumping, etc. Create street appeal because the first impression always works. Paint the exterior with subtle colours that may appeal to buyers from different demographic. Landscaping the garden and improving the fences are some other vital things that potential buyers tend to check out.
Try not to over-improve
Improving can increase your property value up to ten folds. But, you also need to be careful so that you don’t end up spending thousands of dollars on improvements and not see a single return on your investment. Potential buyers may not like your idea of decoration. Hence, it is important you keep redecoration to a bare minimum. Research and come up with new ideas and hacks that can add more value to your property without over-doing it.
With housing prices soaring, it is time to capitalize on your property. Whether you want to increase your property’s value or simply want to improve your living space, improvements can be a daunting task. Luckily, these steps are just a few, to begin with. These little things can mean a lot when it comes to increasing your property value.