Add Value to Your Property (2021)
Maintaining a property is one thing, what if you could increase the value of your property, hence raking in all that hard earnings throughout the years (or more)?
There are few factors when it comes to valuation that either increases the value of a property or plummets it. Among these factors are Location, Accessibility, Maintenance / Renovations and Quality of Construction. Now these are fixed factors, you can’t move your home next to a highway to add value. Instead, there are variable factors that is a sure hit to add the value of your property.
Regardless if you want to sell or to just valuate it at a high price, let’s get down to business and help you add value to your property!
1. The first impression
It’s normal for human beings to judge at a first impression and when it comes to property, no one would ever be interested in a rundown home.
There are a number of simple ways to keep your home attractive and on point:
- Clean the fences and pathways
- Tidy up the front door
- Repainting walls or door
- Secured tiles
These might seem little, but these are the things that could increase the value of your property. Furthermore, all of these can be done DIY and at minimal cost.
2. Maintenance
Yes this is a fixed factor but you can spend a few dimes to maintain your property. A lot of property may look great on the outside, but they scream help within. Fix every minor problem before they become a major pain in your pockets and might affect your property’s valuation.
Structural defects like:
- leaking roof
- cracked walls
- infestations
- missing tiles
May affect tremendously on your property’s value, and if you are really keen on adding value for your property, it is vital for you to ensure that your property is always in check. No one wants to move in with flickering lights and leaking pipes.
3. Make some space!
In most cases, the bigger the space, the higher the value. If you live in a small apartment, there are ways to trick the eyes and mind into thinking the space seems bigger. Remove any clutters and huge furniture, instead replace them with smaller cabinets or shelves to fill in spaces.
There are plenty of other ways to make your small home appear big and these improvements does not cost an arm nor a leg and it can be done DIY. For example, paint the walls with brighter colours rather than darker ones, add mirrors to visually double the space and change to minimalist curtains.
4. Organize
As we were talking about space, no one wants to walk into a storm and it certainly applies in property. Keep it clean and get rid of any unneeded clutters. There’s no need to keep a 20-year-old magazine stockpiled on one end of a corner and make unnecessary mess of your property.
This does not only apply to the living room or bedroom, this includes the bathroom and kitchen. Buy small containers for your spices and other dry condiments and add a laundry bin for dirty clothes.
Keep your property clean and keep your wallet secure.
5. Chill out, add an AC
Air conditioning system, one of the best inventions of mankind and it adds value to your property!
Everyone wants to keep cool and comfortable especially during hot weathers. What better way to chill out than to have an AC system installed in your property. An appraisal done by Money magazine, adding an AC system adds 10% (no, it’s not 10% per AC unit you have) to your property value!
Source: Upgrading Your ‘Cool’ Factor: How Much Value Does Central Air Add to Your Home?
6. Add greens
It’s human nature to be attracted to greenery (not just money). Hence, one of the best way to add value to your property is by adding greens to your property. Think about adding minimal luxurious plants to boost appeal. High-rise property may not have outdoor common areas to place these beauties but it is still possible to decorate your property with delish greeneries.
A small pot or small grouping display of plants is adequate for those with space constraints. No worries for those without green thumbs, you may purchase low maintenance houseplants such as the snake plant or palm leaves.
7. Upgrade the kitchen
You know what they say, “the kitchen is made to bring families together”.
It sets the ambience for future family members and is usually the number one priority apart from a spacious living room.
You don’t need to spend too much. For instance, simple upgrades like:
- fixing the tiles
- changing the kitchen lights
- polishing the kitchen cabinet
Major upgrades like a new kitchen stove can be done if you have deeper pockets. In the realty world, the kitchen can be the make-or-break deal. It is advisable to keep it attractive and aesthetic and very often they have a big impact.
8. Upgrade the bathroom
Yes, the room where everyone would spend their time watching their phones or gaining new ideas, especially when it’s hygienic and clean.
If you have a small budget set aside, consider to upgrade your bathroom. It does not need to be major improvements like a bathtub or a new cabinet, small fixes like:
- replacing rusty pipes
- new shower stalls
- polished sinks
These small upgrades could go a long way in order to keep the toilet fresh and squeaky clean. Best part is, all these minor changes can be done DIY and can be bought at any hardware stores near you.
Valuation is a key process for homebuyers and there are plenty to be done in order to add value to your property. Some upgrades may not be major, but in some cases the needs for major upgrades may come into play.
Article by: IQI Global
