At some point, you made an investment in a property, hoping its value would increase. You are probably aware that you can’t have any impact on the global real estate market, but you should realize that there are many things you can do to help your property boost its value as much as possible.
Needless to say, real estate investments need looking after and if you’ve treated your property nicely, it will return the favor by bringing you more money. However, if you haven’t been the most diligent property owner for any reason and now you need to sell your prized possession, you’ll definitely struggle to get the price you’re hoping for. Still, there are some things you could do without spending a lot of money that are guaranteed to increase your property’s value and appeal.
A Coat of Paint
One of the most efficient ways of making your house look nicer and thus more valuable is to revamp it with a fresh coat of paint. Not only will you transform the interior and exterior, but you’ll also provide great protection to the walls of your house. Naturally, you have to prepare the walls for a paint job and you should choose neutral toned paints for the best result. This is one of the projects that you can do without professional help, though it might be wise to hire an expert to paint the ceilings since it’s the trickiest part of the house.
If you are updating existing walls from a dark to a light shade, you need to apply an adequate undercoat and make sure you paint rooms one at a time. If your budget doesn’t allow you to paint the complete exterior of your house, just focus on window frames and fences and you’ll notice how your exterior gets transformed without spending a lot of money.
Kitchen Adds Value
Every realtor will tell you that the kitchen and bathroom are the two rooms that are always worth investing in since such investments provide the best return. So, try to revamp the kitchen in your investment property as much as possible and make it both functional and modern. Replacing every appliance and furniture item can be costly and you may not have that much money, but there are some easy updates that can really increase the visual appeal and functionality.
For example, you can replace just the cabinet doors and handles and your kitchen will look newer and fresher. Pay attention to the floor, since no buyer wants to see a floor that needs immediate replacement. Make sure all the fixtures are functioning well and replace the old ones if possible. If you have more money at your disposal, consider investing in lights and new appliances.
Though the bathroom can be one of the most expensive rooms to renovate, it’s still possible to upgrade it without splashing cash. However, you have to make sure that there are no plumbing issues before you start any work on your bathroom. Australian realtors often mention plumbing issues as one of the reasons why potential buyers are dissuaded from buying a property since they believe, and rightfully so, that such repairs are costly. So, if you want to put your house up for sale, contact an expert in frequently blocked drains from Sydney or your local area to resolve the matter before you have your investment property listed.
When it comes to design and decoration, once you’ve resolved any potential plumbing issues, focus on cabinetry and handles and replace them for an immediate impact on appeal and home value. Another simple trick is to add greenery to your bathroom in the form of pot plants or introduce a statement pendant for a decorative touch. Needless to say, everything in your bathroom should look and feel new if you want to boost the value of your property.
If there is one element that often gets neglected, but which could help you get a better price for your property, it has to be the windows. The way you dress your windows really has a great impact on the resale value of your home. To begin with, all the window frames need to be freshly painted in a suitable colour and glass panes have to be spotless. After that, you need to think about dressing your windows. If you have large, showcase-style ones, which open to an outdoor area, white curtains would give them a touch of modern luxury and the whole space will seem bigger. Another benefit is that you won’t have to compromise on natural light or garden views.
On the other hand, rooms such as the bedroom or possibly the lounge room require more privacy and intimacy, which is why shutters are the best option. You can also choose curtains or blinds, depending on your taste, but try to get the best possible quality you can afford if you want your investment property to look both nicer and more expensive.
Do you know how important the first impression is when you meet someone for the first time? Well, the same can be said for the impression a potential buyer gets when they see your investment property for the first time. That’s why you should do your best to improve the curb appeal of your property since you want them to feel great about the house even before they step inside it. In order to boost the curb appeal, you have to prune the trees and bushes in front of the house, make sure your lawn is in perfect condition and your mailbox is not rusty.
If you have a porch, it might be a good idea to update its tiling or apply a new coat of varnish to your deck. Also, the path leading to the house should be inviting and in great condition. Any cracked tiles, bricks or slabs should be replaced since they are not only unattractive but potentially dangerous as well. Finally, make sure all the lights are working and that the entrance to your house is well-lit since it leaves a much better first impression.
Boosting the value of your home is not the easiest task in the world, but it’s always a shrewd investment, provided you do the right thing. As you can see, even some inexpensive investments can really make a difference, which is why you have no excuse for neglecting your property and offering it on the market without any upgrades.
This article has been contributed by Diana Smith.