Firstly, let’s be familiar with the term ‘property value’. It is the value of your real estate based on the market status or the value that a buyer and seller agree upon. To assess the value of a property, you start by finding the assessment rate using any of the three methods: performing a sales evaluation, the cost method, the income method. Then, the market value is multiplied by an assessment rate to evaluate the true value.

When you own a house, your primary objective would be to live there. But, there might be times when you just want to invest or just make a profit from your investment. There are a few factors that affect the property value, like how many buyers are there, availability of properties, and of course, inflation. So, here we will acknowledge all unpredictable obstacles that affect the property valuation and give you tips on how you can step up and increase your property value:

New paint and fixtures

Painting and fixes not only increases your property value but also gives the buyers the feeling of moving into a new house. Paint all the rooms like the living area, bedroom, kitchen, dining room, guestrooms, kids rooms, etc. Paint them in colors that are appealing, soothing, and inviting. Like blue, green, pink, or lighter shades in bedrooms for tranquillity and relaxation, and green, pink or blue for dining rooms and living areas. 

Giving a makeover will pull buyers. Furthermore, while painting you might also catch some quick fixes: loose wires, leaky pipes, patchy walls, squeaking floors. Fix and replace those as well.

Renovation and retrofitting

Next, is renovating and/or retrofitting your space. How about starting by adding extra sockets, replacing your lighting with compact fluorescent bulbs, and adding extractor fans in the bathrooms and kitchens. Repair and replace squeaky floors and sticky doors and windows,  even door latches and loose tiles. 

Repair or replace any broken window, cracks on walls and ceilings and address any foul smells. Furthermore, consider having a pressurized plumbing system, a central heating system, fixing leaky roofs or panels, have polished floors and/or a granite top in your kitchen.

You can opt to convert a loft or empty rooms into a functional room like a bedroom, office space, or storage space. Consider making a low-maintenance garden that compliments your house.

Decor and interior

The decor and interior design are the heart of the house. We can’t deny the fact that buyers love to invest in a well-designed and low-maintenance house. Adding an update to your decor would help you get the right buyers. Consider adding wooden floors, paint neutral shades, cleaning windows, and add a space for storage. 

Also, give more thought to your bathrooms and kitchens. A winning point here would be updating your bathrooms and kitchen with the latest technologies and fixtures. People love cooking in a luxury kitchen or taking a hot bath in a spacious bathroom. Consider your budget and space, make tweaks to give a luxurious and comfortable look. Lastly, giving a modern touch to your furniture or adding some important ones.

It is all about researching, getting the right products and fitting it into your space. But, if you are confused and have a budget, why not invite an interior designer and seek necessary improvements. Your right efforts will give you a raise on the value of your property. 

Add more rooms

Do you have extra space? Well, why not an extra room and add value to your property. You can easily form a room from an extra space by adding (make-shift) walls, or by converting it into a loft or cellar. An extra room always is an asset of a house and your buyers will love it too.

Unquestionably, an extra room could help owners and their surprise guest avoid uncomfortable sleep. However, the idea of turning the space into a workplace also sounds pretty logical, given the pandemic. Or you can also consider turning the space into a bathroom or bedroom. It is only a smart decision for a family but also visitors. The extra room can also be rented for extra income.

Image alt text: Add your property value by adding more rooms

Exterior Design

Well, we all have heard it often, the first impression is the last. So, give equal importance to the outlook of your house as to its interiors. You can start with the entrance, have a gate with a visible house number plate. Then add a driveway and a parking space. It will be a great asset and will naturally scale up your property value in the market.

Moving on, look at the outer look of the house. Scrutinize your property and then come up with transforming ideas like wall cladding, retrofitting or adding the windows, roofs, chimneys, and porches. Consider adding a dome stone decor and tiles, for an exquisite look.

Apart from this, to add more value, consider a garden with colorful flowers and trees. Give your buyers a space to grow their fresh veggies and fruits or at least enjoy a beautiful garden.

Driveway and garage

We have already mentioned a driveway and parking space can increase your property value. Just to emphasize its importance, adding a driveway can increase your property value by 5-10%. That’s significant.

Even just a parking space can potentially give you an attractive return on investment. A parking space will help owners save the monthly parking rents on parking elsewhere. And it is a known fact that many buyers would choose a property with parking space rather than a garden. So, accommodate that when you are selling.

If you are having an old garage, just simply upgrade it with better finishing, designs and  colors.

Add the X-factor

After you are done with the interiors and exteriors of the house, it’s time to give your house the x-factor that will help your place stand out in the market. 

How about a beautiful fireplace, either inside or outside the house. Add a roof lantern that will brighten your space by 3 times, and result in less use of electricity. People are going towards sustainability and environment-friendly lifestyles. Incorporate them into your house. Consider adding attic insulation, LED lightings, that are energy-efficient, low in maintenance, and money-saving luxury. 

You can renovate the staircase, add some fancy touch to it. Consider, getting a designer window and front door. Add plants or pots inside rooms as this will help you enhance the beauty of your house. 

We have covered all of the major points, so now it is time to remember them and make changes to your property. It is important to remember that a simple repaint of your house can make it look appealing and inviting. To increase the value of the property more consider giving a renovation, no one would buy an outdated property. Make heads turn with our pointers and get a good value of your property.