You can make several home improvements to increase the value of a property. According to recent studies, renovations such as a new roof, windows, or siding can add an average of $9,000 in value to a home. Upgrading the kitchen or bathroom can also be a wise investment, as it can result in a return on investment of up to 88%. In addition, adding a deck or patio can increase the living space of a property and make it more attractive to potential buyers.
As an investor in the real estate game, consider adding some extra areas to your properties to make them more valuable and improve your chances of selling them. Here are a few examples of what you can do.
Outdoor Amenities
Messing with a home’s internal structure can be expensive and time-consuming, so why not focus on the outdoors instead? Adding an outdoor kitchen or a pool to your property can make it much more attractive to buyers. If you’re tight on budget, however, there are still some affordable ways to upgrade your property’s exterior. For example, you can install new landscaping, build a deck or patio, or add a pergola or gazebo. These features will not only make your home more visually appealing but can also increase its value.
However, go the extra mile and include luxury outdoor amenities such as a Jacuzzi, sauna, or tennis court. These additions will make your property stand out from the rest and could result in a higher selling price.
Kitchen and Bathroom Upgrades
Upgrading a kitchen or bathroom is an excellent way to increase the value of your property. However, you can go for an extensive renovation to see results. Even small changes such as painting the walls, replacing the hardware, or installing new countertops can make a big difference.
Another thing to consider is increasing the storage space in these rooms. You can do this by adding cabinets, shelves, or even closets. Storage is always a selling point for potential buyers, so this is an improvement worth making.
If you have extra funds for your project, you can go for a complete kitchen or bathroom makeover. This will usually involve replacing the fixtures, appliances, and flooring. However, this renovation can be expensive, so please ensure you have the budget.
Basement Finishing
If your property has a basement, then you’re in luck. Basements are often left unfinished because they’re complex and costly to renovate. However, finishing a basement can increase the value of your home by up to 20%.
There are many ways to finish a basement, so you’ll need to decide what’s best for your property. You could turn it into an extra bedroom, bathroom, or living area. You could also add a home office, game room, or gym. Whichever way you choose to finish it, a basement can be a great selling point for your property.
Extra Rooms
Adding extra rooms to your property is also a great way to increase its value. If you have the space, you can convert an attic or garage into a bedroom, bathroom, or living area. You could also build an extension onto your home to add extra square footage.
A sunroom can be a unique and excellent selling point for your property. This is especially true if you live in an area with a lot of sunshine. Sunrooms are relatively easy and inexpensive to build, so they’re a great option if you’re on a budget. Fortunately, you can find a company building your own home sunroom for you.
Security System Upgrades
Installing a security system is a great way to increase the value of your property. This is because potential buyers will feel safer in a home that has a security system. In addition, you can get a discount on your homeowners’ insurance if you have a security system installed.
There are many different security systems, so you’ll need to choose the one that’s right for your home. You can opt for a simple design with an alarm or get a more sophisticated system with cameras and other features. However, security systems can be expensive to install and maintain. So, this might not be your best option if you’re on a tight budget.
Instead, you can get a home security system that’s affordable and easy to install. This will usually include a few sensors and an alarm. It might not be as comprehensive as a more expensive system, but it can still provide some peace of mind for potential buyers.
Home Staging
Staging your home is a great way to increase its value. This involves changing your home’s appearance to appeal to potential buyers. For example, you can declutter your home, rearrange the furniture, or add new decorations.
You can do this yourself or hire a professional staging company. However, professional stagers can be expensive, so this might not be an option if you’re on a budget.
Final Thoughts
Making your property more valuable doesn’t have to be expensive or time-consuming. By making some simple improvements, you can increase the value of your home and make it more attractive to potential buyers.
