There are many ways to boost the value of a property, but it can be hard to know which methods are worth the investment. If the increase in value doesn’t exceed the cost by very much, it probably won’t be worth the effort.
Whether you’re selling a property soon, renting it out, or just wanting to increase the value of your own home, there are several sound ways to invest in a property’s value.
Kitchens and Bathrooms
Kitchens and bathrooms are two of the most important rooms in a property. They are also more prone to getting old, worn out and outdated than most other rooms.
An old, worn-out, dirty-looking kitchen can be very off-putting for buyers and prospective tenants. On the other hand, modern kitchens and bathrooms in good condition can be a huge selling point.
For this reason, refurbishment of old kitchens and bathrooms will often make for a worthwhile investment. If the current state of the rooms isn’t that good, the cost of refitting them will generally be outweighed well by the increase to the property’s value.
If you are going to rent out your property, this can be particularly worthwhile. You will benefit from higher rents and your property will be more attractive to tenants.
Other rooms many not have as big an impact on property values as the kitchen and bathroom, but this does not necessarily mean they aren’t worth refurbishing.
If the décor is looking a bit tired, fresh paint on the walls and a new carpet on the floor can be an easy, low-cost way to bring about a noticeable increase property values.
If you are refurbishing your own home with no intention of selling soon, you can safely redecorate according to your own taste. If you are selling or renting out a property, on the other hand, it is best to stay fairly neutral in order to make the property attractive to the widest possible audience.
To stay neutral without getting boring, use neutral pastel shades for walls and stick to carpets and floors with simple designs.
One of a property’s most valuable assets is the space occupants have to live in. Any work designed to increase the amount of living space available is a sure way to boost property values.
One of the most obvious, though most expensive ways to do this, is by building an extension to the property.
However, this is an involved process and requires a larger initial investment, meaning few people will use it solely as a way to boost property values.
An easier way to increase the amount of living space is to convert storage space such as attics into inhabitable rooms. Even simple outbuildings that can be used as living space, such as cabins and gazebos, will increase property values.