You love your home and have probably lived in it for years. But now, you want to give it away, either for another dream house or because you are moving out of the city. Whatever the reason maybe, you will have to improve the value of your property or home if you want it to be worth more than what you have invested or bought it for.
Improving the value of your home begins with planning. What is the money that you are expecting from the sale of your property? Is it worth the money that you are demanding? If not, we recommend you to make a few low cost or even high-cost renovations and changes to add and improve the value of your home.
You obviously want your property to be worth more than when you bought it, and that depends mostly on the condition of your home and of course the overall real estate market values in the area.
Here are five best low-cost and high-cost tips and ideas to increase and improve the value of your home.
Low-Cost Ideas to Improve House Value
1. Paint Your Home : Painting your home which you plan to sell is very critical and essential as you want potential buyers to think that it is worth investing a huge amount in this property. Rooms that are freshly painted looks very neat and that definitely adds a whole lot of value.
2. Structural Problems : Even before you decide to invest a huge amount of money in renovating your home, make sure you first fix all structural defects like cracks on the walls, insect infestation, broken floor or roof tile, rising damp, and leaking roof to name a few. These defects can be repaired without investing too much money. This is extremely important and must be done before you begin any other work in the house.
3. Clean Your Property Thoroughly : Make sure that your property is spic and span, both from inside and outside. A clean house will have a direct and immediate return on your property value as the first impression is extremely critical. Cleaning or updating the lawn is also very useful and inexpensive too.
4. Change of Fixtures : Whether it is a cabinet handle, door knob, or even a light fixture, all of this will help add value to your home.
5. Improve Visual Appeal : It is important that when a potential buyer walks into your property, he or she is immediately captivated. One of the easiest and least expensive methods to improve house value is to strategically place a few plants, outdoor lights, update or change gates to make the property seem more inviting.
Moderate/High-Cost Ideas to Improve House Value
1. Change Flooring : Even though this is expensive, changing the floor title or adding/updating carpet will give a new look to your home, thereby adding great value to your home.
2. Add or Update Central Heating : The central heating system is something that most buyers look for. Adding a central heating system in three bedrooms in an Edwardian or Victorian house will cost you approximately cost £3–4,000. A good plumber can suggest all that needs to be done. But consider doing it only if you are expecting high returns.
3. Give Your Kitchen a Makeover : You can consider attaching wooden doors along with handles to kitchen cabinets and lofts if your home does not have it already. Glass doors are a great idea for at least a few cabinets as that will make the kitchen seem more glamorous and attractive. Fixing lights inside the cupboard is also a good way to attract buyers to the property.
4. Update Your Bathrooms : Changing or updating the floor with high-quality tiles will definitely increase the house value. A new tub, shower, and a new toilet will make the bathroom seem more impressive since kitchen and bathrooms are the heart of a house and are something that all potential buyers look at.
5. Do a Complete Renovation on Your Property : If your house is old and you think that you can sell it at a much higher rate than it is worth now, only then would we suggest you think of a complete renovation. Ripping the building completely and building it back on a modern design is very expensive and time-consuming. Also, consider the renovation cost before fixing the price of your property.
Before you begin to do all that it takes to improve and increase the value of your house and property, remember a few things. The sale price of your property must not be more than 20% higher than the most expensive houses in your neighbourhood. Your house value will certainly be affected by the value of the properties around the area.