So you’ve decided to sell your property. A smart person would not just sell it as it is. There are tons of stuff that you can do to make the most out of your house. If you can afford the home renovations and have the patience to wait, you can easily multiply the property value.
It’s not a secret that real estate properties are great investments that have the potential to double or even triple the money spent. The strategic act of buying properties when values are low, waiting for the prices to shoot up, and then selling them for profit has generated hundreds of thousands of dollars for the real estate industry.
Contrary to popular belief, you do not need a real estate agent to make a lot of profit from a real estate investment. Here, I have listed down some of the best home renovations to make to boost your property value.
Declutter
Before you move towards any sort of renovations to your house, it is best if you rent out a storage unit for all of your items. You need to make sure that your house is free of any clutter. Starting out with a clear space is crucial. Your items will only get in the way of renovators, not to mention there’s a high chance that they get damaged. Aside from this, staging an open house for buyers with your items still inside is not recommended as it makes the home look “lived in” and cheapens the interiors.
Refurbished Front Door
The front door of your house is one of the first impressions that a potential buyer will see. It is better if you elevate this and create a welcoming impression on your visitors. Adding a grand door and glass panes will boost the overall appeal of your house.
Landscaping
The Appraisal Institute recommends that homeowners properly maintain their landscaping. They base this on the fact that the landscape of a real estate property can have either a positive or a negative depending on its state. Spending some resources on your garden landscape will greatly pay off in the long run. A few trees, bushes, and flowers will also improve house aesthetics which is great when generating appeal to potential buyers.
Bathroom Addition
One of the best features of a house is having more than enough bathrooms for its residents. Adding a bathroom will definitely have a positive impact on your property’s prices. At the same time, it would be easier to sell a property that says ‘4 bedrooms, 2 bathroom house’ instead of a ‘4 bedrooms, 1 bathroom house.’
Garage Door Installation
It may not be the first thing on your mind but surprisingly, a garage door installation has been found to boost your real estate property’s prices. A national study stated that the average Garage Door Replacement costs $3, 695. The increase in the resale value of your property is around $3, 491. This means that over 94.5% of your investment is recouped.
Minor Kitchen Remodelling
A major kitchen remodelling may be quite expensive. This, however, doesn’t mean that you should just forget about the idea. Adding a few cheap upgrades like flooring, new cabinets, or even just replacing the old dishwasher will give your kitchen a nice touch.
CCTV Installation
The security of any real estate property is key to having it bought by any potential buyer. Paying for a CCTV Installation will guarantee that the property is protected from vandals and burglars. It may seem like a pricey upgrade but when you tell your potential buyers that you have an active surveillance system ongoing, they will be impressed and are more likely to buy the house from you.
Wooden Deck
Homeowners are always in need of a place to host parties and gatherings. A wooden deck is a perfect place to entertain guests or even just to enjoy a few hours of relaxation. While having a deck added to the house is certainly not cheap, the resulting aesthetic improvement is well worth it.
Roof Replacement
Selling a property that has potential leaks is bad practice at best. Your buyer will also feel cheated out when they realize that they just bought a real estate property that still needs a lot of repairs. One way of guaranteeing to your buyers that the house is in perfect condition is to have the roof replaced. Plumbing and wiring must also be thoroughly inspected to avoid any mishaps.
