Hello World! Welcome Friends! Your home is your haven, your castle, and usually your biggest asset too. Even though investing in property is almost always a great way to grow your net worth, there are a few tricks that canny investors know about that can grow its value even faster! Read on to discover some of the tricks of the trade that can pay really pay off when the time comes to sell.
Get an outside opinion
You know your home better than anyone, and while this gives you a lot of good insight into practical improvements that would make your life easier, sometimes we’re a bit close to the issue! Get a few trusted friends to share their honest opinions about what wouldn’t work for them, and what they would want to change before they considered buying your home for themselves. This can be especially useful if you don’t own a pet, have kids, or work from home for example, as you might not understand another party’s practical day to day needs as well as your own.
Prevention is better than cure – stop potential disasters happening before they occur
Even if you’re not planning to sell your house any time soon, it’s always good to bear in mind the activities that can preserve and protect its value years down the road. Things like making sure geysers are serviced and maintained to prevent expensive and potentially damaging bursts, having washing machine repairs done before they leak all over your floors, attending to any issues with damp before they become a major problem, and having your roof checked and getting minor repairs done frequently can all protect the long-term value of your biggest asset.
Focus your efforts on the kitchen and bathrooms
The kitchen is often one of the biggest selling points, or biggest drawbacks, when it comes to the eventual selling price of your home. Updating and modernizing the kitchen and bathrooms can have many positive effects – it improves people’s initial perception of the entire property, and gives the impression that the home is ready to occupy straight away. And it makes your home a more pleasant space for you too!
Go green
Energy and water efficiency aren’t just buzzwords, they’re great ways to improve your property’s worth and its green credentials, all while saving you money in the process. Consider adding solar panels, investing in better insulation, adding smart taps and shower fittings – whatever your budget allows.
Add square footage
Extensions can be expensive, but have a look at the going prices for similar homes in your area that have just one room more than yours, and do the math. If adding another room or a few extra square feet is going to add more value than the extension would cost, you can consider the outlay a good investment!
If you don’t have room to extend, then loft, attic and garage conversions can achieve the same effect.
Update doors and windows
Security is a major concern for house hunters, especially those who are looking to start a family, and doors and windows are usually the first line of defense against intruders. Besides fitting snugly and securely to help keep the temperature inside pleasant, they should also be durable and difficult enough for unwanted visitors to get through that they function as a deterrent too. Of course, shiny new windows and doors that are set to last for decades add major aesthetic appeal too. On the flipside, repurposing or using reclaimed fittings can add major character and appeal to older or more traditional homes.
Update services
If you have an older home, the electrical wiring and plumbing may no longer be up to scratch. This is not a cheap thing to fix or update, but it gives you the opportunity to add even more value while the work is being done. Use the opportunity to add extra wall sockets, install a modern consumption meter, or add extraction fans and hot water cylinders in the bathrooms.
Spy on your neighbors!
The digital age gives us so much access to information, and getting the inside scoop on what the Joneses are doing right can give you valuable insight into the kind of improvements potential buyers might consider valuable. From time to time, check out the online listings for homes in your area, especially the ones that seem similar to your property, but have higher asking prices. With high-res photos and even virtual tours becoming more common tactics for real estate agents, there’s an unprecedented chance to get an inside peek. It’s a great way to find ideas for your own home, and let’s be honest, it can be great fun too!
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