Do you know that a few changes to your property can significantly increase its value? This trick may come in handy should you decide to sell it later. Remember, the initial price of your house plus the renovation charges should be less than your selling price. Therefore, make a budget of the changes you want to make and compare the total cost with the average selling price of similar properties in your neighbourhood. Once you figure out a profit margin, you can start implementing the following ideas.
1. Add curb appeal
Adding curb appeal is an inexpensive tip that can significantly increase your property’s value. Make a few changes to your property, such as adding a few plants near the entrance, installing outdoor lights in the front and backyard, painting the mailbox or installing a new one, or cleaning the driveway or walkway into your house. Most importantly, keep your property clean and tidy before anyone comes over for a house tour. This way, you’ll make a good first impression.
2. Replace doors and windows
Repainting the house is a great way to increase your property’s value, but changing the doors and windows can prove to be just as important. A newly-painted house with old and outdated doors and windows doesn’t look good. Invest in new doors and windows, and make sure you choose contrasting colours while painting them. In addition to doors and windows, you can also add skylights. Skylights brighten up spaces, making your rooms look more spacious.
3. Renovate your kitchen and bathroom
No matter how clean you keep your bedrooms and living room, potential buyers would comment on the cleanliness of kitchens and bathrooms if they are not up to the mark. Stains on kitchen countertops, dented tile floors in your bathroom, leaking pipes, clogged sink, and outdated cabinets are a strict no-no. Upgrade or renovate the essential areas if you want to increase your property’s value. Fix leaking pipes, change kitchen lights, unclog drains, and do everything possible to make the kitchen and bathroom look new. You can check out the services from your everyday plumber Epping.
4. Upgrade your property’s siding
The best siding depends on your location’s climate. Focus on the siding’s practicality instead of how fancy it looks. Choosing proper siding carefully can improve your property’s aesthetics and also lower your utility bills. Take time to research the pros and cons of different sidings, and then choose one that suits your location’s climate and your budget.
5. Add square footage
Although this is a relatively expensive idea, it can provide high returns in the future. Adding square footage doesn’t necessarily mean building a new floor or renovating your backyard into a living space. Instead, you can convert your basement into a man cave or renovate the attic and clean it properly. Alternatively, you can transform your attached garage into an additional living space or guest room.
While there are tons of ideas that can add value to your property, the ones mentioned above are practical and can provide high ROI. Try implementing them before you put your property up for sale.