As a property owner, you no doubt want to get an optimal return on your investment, whether through selling or renting the house. It’s no secret that a few well-thought fixes around the house can hike its value. It is, however, tricky to decide which home improvement projects are going to add more value to your existing house, and which ones will turn out to be just a money sinkhole.
Remember, basic maintenance add the most value to your home. Every homeowner’s first priority should be to keep the existing structure healthy, solid and safe. Keep the paint fresh, fix the roof when it leaks, replace wood that rots, and address any water damage that you find. These small updates will keep your home’s value from deteriorating over time. Anyone looking at a home to shift into will look carefully for signs of routine maintenance. To gain the most from your improvements, select projects that protect and improve what you already have. Here are some insights on home improvements that will see your house value rise as a result of your hard work.
A Fresh Coat of Paint
Paint is one of the simplest, quickest and most cost-effective improvements you can make to a house. Freshly painted walls make a house look clean and updated, making it more desirable. When selecting paint colours, opt for neutrals and light colours, as they appeal to the greatest number of people, and can even make a smaller space appear larger. Ensure that your walls are free of mold and any form of water damage before you invest in painting the interiors.
Kitchen Makes a Mark
Kitchen upgrades are listed among the top value-enhancers by property experts. You don’t have to go for an all-out strip-down-the-walls update. Invest in a mini remodel. Replace a stained sink or old plumbing. Change the paint. Add a new, colourful backsplash. Get some new tiles for your floor, or get the current tiles professionally cleaned and polished. Install a water filtration system in your kitchen – an inexpensive addition, but it’s the sort of small value add that home buyers love. Installing storage-effective cabinets has been proven to make a house popular with prospective buyers and tenants.
The bathroom is one of the most used spaces in a house, and also the place where wear and tear first show up. You definitely want to keep it functioning well and make smart upgrades along the way. As with the kitchen, look for cost-effective changes —replace the old plumbing and lighting fixtures or add a new tile floor. Since bathroom counters are mostly smaller than a kitchen counter, you can also invest in a granite or marble countertop. Give overhead lighting a pass in favor of wall mounts to add warmth and value to your bathroom. Make sure that there is a good quality mirror in the bathroom, with even lighting over it. The bath area can get a makeover with a shower or body sprays. Keeping the bathroom waterproofed will be an investment you can make now to reap big benefits later.
Most importantly, don’t pour all your money into remodeling the bathroom if there is only one in the house. A rather large number of homes lack a sufficient number of bathrooms. So if you’ve got a two-bedroom, one-bathroom house, it’s certainly going to go up in value with the addition of a second bathroom.
Clean Up the Lawn
An overgrown lawn with unkempt, outsized bushes will put a dent in the value of your home. Hire professionals to trim your lawn, shape your hedges, and if possible, do a spot of landscaping to spiff your house’s curb appeal. Well-maintained outdoors work like a magnet to draw potential buyers.
Clean it. Inspect it.
Whether your house is up for renting or selling, a bright and clean home always attracts more prospects. What buyer or tenant would ever consider a dingy, musty home over a bright, clean and welcoming one? By making a clean house a priority, you can spot emerging leakage, mold, cracking tiles and any dampness issues, which can become a nuisance if allowed to spread unchecked. These are among the biggest deal breakers while selling or renting a property. Deteriorating roofs, termite infestation or outdated electrical systems — often the damage you can’t readily see is what eats into the value of a home. Address these potential problems before they become expensive ones.