May 15, 2020
Investing in a property is likely to be one of the biggest purchases you make so it makes sense that you maintain your investment overtime.
This ensures that your property not only holds its value but actually increases in value.
If you want to know how much your house is worth, you can consult with an estate agent, or for a quick estimate you can use an online house price index calculator.
There are many ways to increase your property value. Here are some tips for both low-cost ways and more expensive ways to ensure your property investment proves to be profitable in the long run.
These low-cost ways of adding value to a property can be done by property owners themselves and don’t require outside help - keeping costs to a minimum.
As well as regular cleaning, it is advised that properties are deep cleaned every 6 months or so, both inside and out, to ensure there isn’t a build of dirt and grime that can produce bad odours.
A fresh coat of paint can make a big difference, reviving and brightening rooms. Neutral colours, in particular, work well as they are more widely appealing.
A splash of different tones or even a colour here and there can also work but be careful not to go overboard and remember your taste might not appeal to all.
Replacing tired-looking door knobs and handles, light fittings and event light switch covers are simple yet effective ways to improve your property.
When setting up a property for viewing, create a sense of space by decluttering and careful placement of furniture to present the function of each room.
The outside of a house creates that all-important first impression. Keep outside lights up to date, paint the doors, add a few strategically placed plant pots to the front of the house as well as keeping back gardens tidy and maintained.
The following property updating tips require more investment but have the potential to significantly improve your house’s worth.
New windows improve the aesthetics of a home as well as reducing noise levels and lowering heating bills.
Adding new doors such as French doors can bring in extra light and add elegance to space.
Updating carpet or adding hardwood or tile adds value to a property and instantly brings the look of a room up to date.
Kitchens and bathrooms can be improved with simple upgrades such as changing countertops and installing new toilets and sinks.
However, full scale renovations would include replacing everything and starting from scratch.
Square footage can be increased with an extension or by converting unused existing space such as a loft or cellar.
This is the most expensive value-adding option but also has the potential to add the most value.
Before making the decision to spend large amounts on improvements or renovations, carry out some research into the top attainable prices in your area. You don’t want to over-improve a property and not see a return for your investment.