It can be difficult to decide what improvements will increase the value of your property. Many times expensive cosmetic improvements will add very little to the actual value. The changes that usually add the most to a property’s value are those that will make the house sound, safe, and attractive. Following are five important ways to increase the value of a home and property.
Basic Systems – Indoor and Outdoor
Buyers want to know that all the systems are in good working order. Heating, plumbing, electrical, and sewer systems need to be carefully inspected and repaired or replaced if necessary. These systems in older homes may need to be completely replaced. On the outside, owners may need to replace items such as garage doors, house siding, the roof, front door and windows. It’s expensive to do all this, but the return on the money spent is often quite high.
Add a Bathroom
More bathrooms are becoming a desirable feature of homes. An extra bathroom would help to accommodate the busy schedules of all family members. Statistics state that as much as 67 percent of the cost of an additional bathroom can be recouped when a house is sold.
No matter what your budget, anything you do to enhance the kitchen will add value. At the least, a paint job, new cabinet hardware, new faucet fixtures, and lighting will help. Home owners can choose to remodel the entire kitchen with new flooring, cabinets, countertops, and new kitchen appliances. These improvements will surely increase the home’s value.
Some home owners don’t realize how important curb appeal can be to the value of a property. This is the first impression that a potential buyers gets when he views the property. If the yard has been neglected for a long time, it may be a good idea to hire a landscape company to re-do the space. Maintenance of the lawn including edging is important. Lighting can be added to the porch and walkway. You can plant attractive flowers in beds that are mulched. Buyers will see your backyard, so keep it in good shape also.
Add Some Storage Space
Additional storage space is desirable, especially in older homes. New closets can be added or the ones you have can be enlarged. Make a trip to one of the container stores and add some of the creative storage units they sell.
There are options you can use when trying to increase the value of your property, but before you spend too much, remember that the value of homes are partially dependent on what other houses in the neighborhood are selling for. Repairing or replacing the basic features, and then thinking about extras will help home owners come out ahead.
Meghan Belnap is a freelance writer who enjoys spending time with her family. She also enjoys being in the outdoors and exploring new opportunities whenever they arise as well as researching new topics to expand her horizons. You can often find her buried in a good book or out looking for an adventure. Meghan recommends Alair Homes for some Red Deer major renovations help as you try to increase your property’s value.