“If you are looking for ways to enhance and increase the value of your property, here is a list of the top tips. Based on the expert advice of our property management consultants at Attorneys Real Property Management, these improvement methods have proven to be effective for all of our clients.”
Normally, it is always the land value that appreciates over time while the value of the property or building constructed on it is what depreciates at the same time. However, this does not in any way mean that the value of your property, land, and building, can never increase altogether.
Obviously, it is entirely possible to increase the value of your property whether you are an investor or an owner-occupier. There are ways by which the value of the property or building constructed on a piece of land can be maintained or even drastically increased.
In this article, we discuss some of the top tips and improvement methods from our expert property management consultants at Attorneys Real Property Management. By correctly using these methods, you can certainly add value to your property easily and cost-effectively.
How to choose between the necessary and unnecessary expenditure? Complimentary vs Supplementary
The simple rule to follow when thinking about a home renovation expenditure is to evaluate whether it seems supplementary or complimentary.
Complimentary expenditures will literally just earn praise and rarely anything beyond. Contrary to this, supplementary expenditures will enhance and add value to your property.
Best ways to increase the value of your property with ease, effectiveness, and convenience
Most real estate investors and homeowners aren’t sure as to what factors need to be enhanced or even ignored when adopting ways to enhance and increase the value of their property.
The following list contains some expert advice and tips on what must be done to add value to your property. For your ease, we have divided these into low-range and mid-to-high-range tips and improvement methods.
Low-range tips and improvement methods to enhance a property’s value
To begin with, let’s see what you as an owner-occupier or investor could easily do either yourself or by hiring someone for this purpose.
Keeping your property clean both on the inside and from the outside should be a priority item on your checklist. This includes simple to do tasks such as –
- avoiding or immediately cleaning any mess,
- not letting the dust or dirt accumulate at any place for long, and
- ensure proper ventilation to let any unpleasant odors escape.
2. Kerb appeal or adding attractions
Ever heard that an interviewer begins judging an interviewee the moment he/she walks into the room. Well, the same thing applies to your property as well since its outer appearance will make the very first impression whether someone comes in or not.
Keeping in view this very thought, how about changing a few ordinary-looking things outside your home. For example –
- adding a few nice plants,
- proper lighting,
- a good-looking mailbox or even an electronic one for enhanced security of your posts, parcels, and other shipments or deliveries,
- adding a deck or replacing the old one, and
- better walkways or driveways.
3. Getting a new paint
Having a new coat of paint is one of the most profound ways to make anything look more appealing and attractive. So, why not get a new paint done once every couple of years or even earlier if needed.
However, the thing to remember is to select the paint color that looks good and adheres to the aesthetics of the thing it is applied onto. Never select a paint color scheme that might look preposterous.
4. Property staging
If you aren’t sure about the homeware and furniture items on what you should or shouldn’t place in any room, why not hire a house staging expert.
But if you plan to do it on your own, keep a moderate approach in what homeware and furniture items you select and where and how you place them.
5. Replacing fixtures and fittings
Sometimes a little expenditure on the essential and frequently used fixtures and fittings such as doorknobs, electric switch covers, cabinet handles, etc. can add value to your property.
Mid-to-high-range tips and improvement methods to increase the value of your property
- Change, replace, or add new doors, windows to your property.
- Look for ways to add some interior/exterior designer or architectural details to simple stuff, rooms, and outside of your home.
- Make your walls soundproof by adding and installing the necessary features to your wall, roof, windows, doors, and flooring.
- Change the flooring in your rooms and/or the tiles in your bathroom.
- Get your kitchen remade into something more good-looking with better appliances, wooden cabinets, marble or granite tops, flooring, plumbing work, etc.
- Extend certain rooms for example by tearing down a wall between two rooms so that you get one bigger and better room.
- Perhaps doing a total renovation to the bathrooms can be a great thing as well. Change the faucets, sinks, add a bathtub or change the existing one with a shower cubicle, change the toilet, install an instant gas/electric heater, etc.
- Turn any unused space such as an attached garage or a basement into a useful place such as a living room or even your office.
Why hire an expert property management consultant near me to increase the value of your property?
As a real estate investor or owner-occupier, your priority should be to adopt ways to retain as well as enhance the value of your property. This does not only ensure a higher rate of return on investment in the form of a bigger purchase offer for your property but also guarantees a high rental income.
The above-mentioned list of tips and improvement methods can help you achieve this objective.
However, remember that not all and every expenditure that you think of spending money on while assuming that it will increase the value of your property will be worth the effort.
Therefore, we always recommend appointing an experienced property management consultant. This provides you with a better perspective on ways that will help you increase your property’s real value.
If you are planning to do some expenditures on your property for enhancing its value, make sure to do it in the right manner. Our expert property consultants can guide you comprehensively on what you should and/or shouldn’t be spending on depending on the circumstances of your case.
Attorneys Real Property Management offers services and consultancy in various matters related to real estate property management. We cover a wide scope of areas in real estate management and can offer relevant help to suit your precise needs.
Book your free consultation session now at this link or simply give us a call at (800) 481-4049.