It’s always a good idea to add value to your property, but many projects that are “supposed” to help usually end up costing you more. If you have a strict budget for this, spending more won’t do. With that in mind, here are some tricks to increase the value of your property:
Enhance Your Curb Appeal
Improving your curb appeal is a tried-and-proven method that always gets the job done. You can accomplish this by doing standard maintenance like keeping the lawn trimmed or painting the exterior walls. However, if you’re looking to add real value, consider landscaping. This method can raise your property value anywhere from 5% to 15%. It’s best to leave this task to professional services for residential paving.
They can help define the edges and paths of your property’s landscape by installing paved hardscapes, making any outdoor area of yours more comfortable, appealing, and valuable. When adding property value, remember to keep your costs low to maximize profit.
Increase Energy Efficiency
Energy-efficient properties can help you save money while increasing their value, giving you the most out of the investment. The easiest way to make sure your property is energy-efficient is by adequately insulating it — inside and out. Additionally, adding double-glazed windows or doors can help prevent temperature fluctuations, which can increase your electricity bills.
If your budget allows it, consider investing in environmentally friendly products that’ll last for a long time, such as solar panels. They’re a great way to make your property more sustainable and energy-efficient, making your home more appealing to modern buyers.
Create Storage Space
Properties with built-in storage space are always more valuable than those without one, and this addition doesn’t need to be expensive. However, it does need creativity. So, instead of turning a spare bedroom into a typical walk-in closet, think about transforming “dead areas” around the property. These include “odd” places such as under a staircase or a narrow corner in the hallway.
Change or Add Windows and Doors
Adding windows or doors is always a valuable addition to any property. That’s because not only do these improve the appeal of the home, but they can also reduce noise, lower heating and cooling bills, and improve natural lighting inside. Different types of doors and windows can provide varying features to a property.
Add an Extra Bathroom
Properties with several bathrooms are more appealing to buyers and are generally more valuable. Having something simple as a separate bathroom with a toilet and sink can significantly improve your property’s value. It’s best if you add a new bathroom without going over the budget, and you can do this by ensuring your plumbing layout allows for it. Otherwise, you’ll need to make the area accessible for plumbing, which can be expensive.
However, if you’re planning on adding one from scratch, consider installing a wet room instead since it gives the property the same value boost — minus the extra space and monetary requirements.
Improve Indoor Air Quality
Improving the quality of the surroundings indoors is as important as the conditions outdoors. So, it’s wise to make changes inside your property, such as replacing old carpets since they may be hiding contaminants and allergens. You can determine if your carpets need replacing by having a professional test your indoor air quality.
If the results prove you need replacement, go for sustainable and eco-friendly flooring like tile or laminate floors, as these add more value and are generally more appealing to buyers.
Remodel Your Attic and Basement
If you’re currently using your attic and basement for storage purposes, you can add more value to your property by repurposing these two areas. Transforming your attic and basement into “livable” spaces can be accomplished even without making any expensive or complex structural changes to the building layout. However, ensure to give them maximum functionality and a multi-purpose feel.
For instance, back in the day, guest bedrooms added the most value, but nowadays, home offices are all the rave. After all, with more people spending time at home, it’s rapidly becoming crucial that a spare room doubles as a functional area. Additionally, if you have a basement with plumbing access, repurpose it into a laundry room, a property feature that appeals to many buyers.
The goal of investing in property is to increase its value and profit, which you can do by beautifying and upgrading its features. After all, you’d want it to be worth more than when you bought it, and the changes mentioned are great ways to add value to your property without overdoing it — increasing your property’s value continually over time.