Most homeowners have set themselves future goals to work their way up the property ladder. For some, this may be a case of slowly but surely, and for others the action of ‘flipping’ houses may be more appealing. Whichever avenue you have in mind, it will pay to consider how any home improvements will add value to your property to ensure you receive the highest returns when you come to sell up and relocate.
If you are planning to stay in your home for the foreseeable future, it is always worth bearing in mind the home improvements you can undertake that will actually add value to your home. This will help you to establish which projects make viable economic sense and those that will leave you forking out for something which you will not see the added value of, when you come to sell.
Property investment is another pathway to explore and often, investors choose property to provide another source of income, using their property as a second residency. Property is actually the only asset that has the potential of producing two different types of returns: rental yields and capital appreciation, like those found in RW Invest property specialists. Capital appreciation refers to the increase in price from purchase to point of sale and can be bolstered through a number of factors.
Certain cosmetic changes like converting the loft, repaving your driveway or redesigning the kitchen are often the most obvious choices people make. These are not only performed because they are practical, they also add a huge amount of appeal to your home, which entices buyers due to your new updated designs. Quite often, projects like this can leave you dipping into savings or some people even use home renovation loans. However, there are a multitude of quick and easy hacks that can boost the appeal of your home without leaving you strapped for cash.
First thing’s first: tackle any structural problems
This can really put off prospective buyers if they notice subsidence, cracks or damp in your home. Ensure you fix any structural problems before tackling any cosmetic improvements or repairs like redecorating, updating your bathroom or changing up your flooring.
Selling a home with minor or major structural defects is not only unappealing to buyers, but most of the time will be flagged on property searches by surveyors during the conveyancing process of a house sale. These will be reported, and will affect the valuation of your home, which then presents mortgage troubles as the mortgage lender will only lend how much they think the house is worth. To avoid a sale falling through, tackle this before it becomes an issue.
Give your home some TLC
Your home is there to be loved. It is there for you when you’ve had a long hard day at work, when the weather is grey and grumpy, when you just need to get in your PJs and eat junk food in front of the telly. I think it deserves some TLC. Giving certain rooms a makeover can give your home an automatic boost. Making rooms light and airy can give the illusion that they are larger. Redesigning your kitchen or bathroom can raise the appeal significantly to buyers, as it is one less thing they need to consider once they are all moved in. Bathrooms and kitchens need to be fresh and clean but are also a great place to add a touch of personality. Adding a touch of luxury can create that value-adding ‘wow’ factor.
Thanks for stopping by today, I hope you have this post useful on how to make your property worth more.
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