If you’ve been thinking of making interest from selling or renting your house at some point, then you should start by increasing the value to attract more potential buyers and make killer sales on your investment property.
You can add value to your property without having to spend so much. The best way to keep the value of your home at a premium is by having a fully functional, aesthetically attractive home and regularly maintaining it.
Offering the lowest price isn’t enough to make a lasting impression. When interested buyers are viewing several homes and they come across yours, you’ll want yours to be preferred for the right reasons.
Note that, there’s a thin line between making renovations that add immediate resale value and investing in choices with no ROI down the road.
Are you wondering how to increase the value of your home? Here are tips that’ll help
1. Make Maximum Use of All The Rooms
One way to easily improve the value of your home is to make the most use of your spare rooms if you have any.
So, your property is a two-bedroom apartment and you want to increase its value, ensure you have a flexible floor plan, to enable you to add a couple of walls, or you could carve out another room from spare rooms like, the gym room, the library or the balcony area, that way you transform to a three-bedroom apartment. This will give you the leverage to increase your price.
ALSO READ: TOP REASONS TO GO FOR INSPECTION BEFORE BUYING A HOME
2. External and Interior Repairs and Painting
The exterior of your home is the first thing a potential buyer will see.
Fix all damage and select the right paint that would give your home a clean look, wide range of buyers and help increase its value.
A good painting will excite any potential buyer, go with the trend of the season with the interior design of your property or consult an interior designer if you are in doubt.
3. Repairs
Another way to add value to your home before selling or renting out is to put in proper working order or repair every part of the home that requires repair. From the exterior to the interior.
The sitting room, kitchen, bathroom, and toilet if in good condition can help to convince the renter or buyer that your property is worth it.
Small repairs like the doors, electricals, plumbing, lighting system can go a long way and help boost your properties appeal.
4. Identify the Work that Makes the Most Difference
On a final note, you don’t have to renovate the entire property in one go; this method will overwhelm you, and cost you a fortune. Instead, maximize your financial rewards at minimum cost. This strategy will increase your property’s value without spending too much out of your own pocket. So, prioritize and identify the renovations that will make the most difference in your house and drastically enhance the value of your property for prospective buyers.
These renovation tips will help you as an investor or homeowner to increase the value of your investments down the line and double your financial rewards. As an investor, you have the ability to affect the profit quota of your real estate investment, by keeping your costs at a minimum and prioritizing maintenance of your property. Without effective planning and costs management, real estate investors won’t reap the full benefits of real estate investing.
ALSO READ: 6 REASONS WHY YOU SHOULD INVEST IN REAL ESTATE IN YOUR 20s
19 comments
Lovely Post
Thanks for sharing this advise. Point number 2 could possibly make a home worth 2 times the actual value if done right.
Informative as usual.
Informative as usual. Thank you very much for my credit ????????????????????. Deeply appreciated. Looking forward to more write ups.
Awesome read! I actually loved the first point when you made mention of maximizing room spaces. Most homeowners barely do that. Once they have the space for their beds and wardrobe set, the rest is history.
For someone like me who take exercise seriously to maintain body balance, having an indoor gym is essential. Work out and just head straight to the shower without distractions.
Another sad part again in the sizes of modern rooms in new houses. New property developers just seem to constrain rooms to just providing spaces for a bed, wardrobe, and maybe a shelf. Room sizes are getting smaller by the day.
One the part of repair, that’s where many home rentals fail. You rent a home, park in and begin to find one or two faults. You barely get into a new home without spending on fixing items to fit your taste.
In all, it was an amazing article. Keep the good work.
thanks. This is educative
Thank you, you can always come back for more insightful content.
Awesome read. Very educative.
Thank you.
You can always come back for more insightful content.
Simple but useful information. I will try this on a 2-bedroom flat I’m planning to rent out.
Amazing! We would appreciate feedback on how it turns out.
Very interesting article I quite agree that renovating a whole house costs a fortune. I think it’s a good idea to do it in bits. Thank you for the advice.
You’re welcome ma’am.
Glad you enjoyed it.
Thank you for the tips!!!
You’re welcome.
Informative article. Great Work
Thank you Bobby.
Keep visiting for more informative tips.
Lovely
Great article. Keep it up