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Ways to Increase Property Value

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  • Ways to Increase Property Value

    There several ways to increase property value and landlords never tire of finding ways on how to increase their rental values. Some can cost fairly, however, the more expensive renovations that can facelift a property is usually the ultimate goal. Here is a list of some ways to increase the value of your property.
    Low Cost Means to Increase Property Value

    There are a lot of simple fixes that can add monetary value to your property’s appraisal ceiling. You can realize the full potential value of your property by making these quick fixes which can be done without breaking the bank.
    1. Sanitizing your Property – Make sure your property is clean. The property must be clean from the exterior to the interior areas. Strange odors, dirt and garbage are not very attractive features of a rental property.
    2. Fresh Paint – Revive and brighten a tired space by applying new fresh paint. The difference will surely be amazing to the eye.
    3. Adding Curb Appeal – Add a few strategically placed plants, or a new mailbox. Sometimes outdoor lights or shutters can also make your property more inviting.
    4. Change Some Visible Fixtures – A simple change in a door knob, light switch covers, or cabinet handles can also make a big difference. Even a new light fixture is an easy way to breathe new life into a space.
    5. Showcasing the property - Re-arranging furniture and re-planning the size and amount of furniture are also significant factors for a functional and homely atmosphere. Often, potential renters lack the imagination and style and if you de-clutter a space to give each room a function, this will definitely add value to your property. Simply place items where they belong.
    The Moderate and High Cost Ways to Increase Property Value

    While you have several options for the least cost improvement, it is always an objective of a Landlord to renovate for higher value. Here is a list of possible changes you can make to a property may average from moderate to high cost depending on the materials and the extent of renovation.
    1. Adding Architectural Detail - A boring room can become brighter by adding a chair or installing ceiling moldings to it. Add pizzazz and excitement to a room by using blending pastel colors.
    2. Change or Add Windows and Doors - This could be a very valuable addition. Definitely will improve the aesthetics of the home. Adding or changing windows can also reduce noise inside the home. It helps cool the room and lower cooling energy bills. It also increases natural light inside the home. A French door leading to a backyard can add elegance, allow more light to the room and opens a view to the backyard. For spaces that lack windows and natural light, you can add skylights to brighten it up.
    By properly positioning windows and doors, you can highlight a beautiful view of your property or rather minimize one that is not so desirable. A brick wall can minimize a view right into your neighbor’s home.
    3. Change the Flooring – Floor upgrade includes; updating a carpet, changing tiles, and adding hardwood to increase the value of your property. Make sure they are aesthetically in harmony with your interior.
    4. Reducing Noise – Excessive noise are always annoying to people. There are several ways of reducing noise and one is by installing doors or a double pane window. Adding carpets and rugs can also minimize the sound of footsteps. Most install insulation and simply placing plants to absorb the noise.
    5. A Simple Upgrade to a Kitchen or Bath - Change a portion of the bath such as the flooring, the countertops or you can also switch a toilet, sink or a bathtub. Buying new appliances for the kitchen would be a great upgrade for the area.
    6. Gut Renovate a Kitchen or Bath - This would entail a complete overhaul of the kitchen and bath. It can involve new floors, moldings, windows, doors or even moving a wall. A kitchen can have new lighting fixtures and new appliances. Bathrooms can also have new sinks, faucets, showers, a tub and cabinets. Changing the layout of the room are often part of this project.
    7. Update the Siding - There are many options for home siding such as vinyl, aluminum, cement fiber, wood and house wrap. The best type will often depend on the climate and location of your property. It improves the aesthetic look of your property and help lower your utility and energy bills.
    8. Modernize the Floor Plan – This project entails architectural space planning to draw a more suitable and functional home. To re-arrange the entire interior could entail taking down a wall, adding a bathroom, swapping two rooms, re-spacing two rooms, or adding a pantry to a kitchen. The idea is to add more function to the rooms and providing easy access from one to another relevant area.
    9. Adding More Square Footage – Basically, this means adding more space to the property. But it can also mean finishing an unfinished attic or a basement to give more living space to the property. You can also transform a garage into additional living space.
    10. Gut Renovate the Property – To completely redo a property by ripping it down to its studs and building a more modern design can definitely draw value to your property. This may take awhile and be sure you have the time to spare before it can be productive.
    Be cautious in improving your property. Do not over-improve your property. Nobody wants to spend money in improvements without seeing the returns of investment. Before renovating, determine your property’s ARV or after repair value. Then deduct your acquisition cost of the property against this new value. The amount you get is the maximum price you can spend for the renovation, including any soft costs. The soft cost includes, closing cost, holding cost if the property will sit vacant while under renovation and any financing charges. This is your increase property value.

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  • #2
    Thanks for the valuable points that you have mentioned above.

    Yes, when we want to sell our home, we make sure that we are increasing our profit by doing a little preparation in our home for the real estate market and getting the best possible price for it. Like, last month I renovated my home, my living room, bedroom, kitchen, and bathroom, so when I want to sell surly it will increment the value of my home.I started with coloring my house by keeping it neutral, replacing all door handles, to light switches. Then on the suggestion of my friend I hired a contractor for a walk in tubs Tacoma to replace my bath tub into a walk-in shower so that my bathroom can gain extra space. I updated my kitchen that meets the modern needs of our family.


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      • #4
        I have a new car, and as I have a narrow drive way in front of the house, I applied these garage wall padding for car door. I just do not want to spoil my new car. So I used the stripes on the narrowest spots. I used them outside, so I am not sure if it last long. But it copes with the task well so far.