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5 Home Improvement Tips to Increase Property Value

August 3, 2012

in Home Improvement | Tagged , , , , ,

home improvement projectsHome improvements are still a surefire way of adding value to a property, but with the average return being somewhat lower than we have seen in prior years, it is time to strategically select your DIY projects in order to see the maximum return.

Always remember that your taste isn’t universal, and what you see as an essential in the home may be an eyesore to your potential buyers. Keep it simple and play it safe. When selling a property, you aren’t just selling bricks and mortar – you’re selling a future to the buyer. They have to be able to picture their lives playing out in the property; the room which you portray as a reception room may be their future playroom for their children. Keeping it plain and simple and noncommittal allows the buyers to vizualise how they will live there and how they will add their own stamp.

Here are five areas for improvement that will guarantee added value and create a beautiful but blank canvas.

The Kitchen is the Key Ingredient

The kitchen is the heart of the home and can be the deciding factor for homebuyers. It must be stylish, practical and spacious. Go for high-end stainless steel appliances to add style and show off the usability of the space – after all, the kitchen is one of the most frequently used spaces in the home. Select ambient lighting and neutral colored flooring and countertops. Creative shopping is where you will save your cash. Think about what materials create a similar effect but are not as costly – for example, choosing granite worktops over marble. Plan wisely and keep space in mind; a large kitchen area can be an attractive attribute in a home. Don’t clutter the space with unnecessary appliances that will make the space seem smaller.

Bathrooms are a Big Selling Point

Quality essentials will create a beautiful bathroom with appeal without breaking the bank. Practicality is key; pick fixtures that will help make the bathroom simple but striking. Go for neutral colors – perhaps in a light coffee color to add depth. Think about your lighting, both natural and artificial; dimmers are a great choice because, in addition to being a practical part of the house, the bathroom is a relaxing escape for most people to soak away daily stresses. Again, make the most of your space and expand the room if possible; a big bathroom is likely to capture a buyer’s interest. Adding a second bathroom also increases home value and makes the property more marketable. Do your research on the area – if other houses in the neighborhood have two or three bathrooms, you may want to add to the number within your property to reflect this.

A Little Paint Goes a Long Way

A fresh paint job shouts brand new. Giving a property a complete makeover with a good paint job can create a stunning finish that will impress any potential buyers. Not to mention painting is one of the least expensive methods of home improvement and creates a drastic overall improvement for a reasonable price. Color choice does affect the home value and the appeal of the house. Choose neutral colors, but change it up from room to room. Different neutral shades will add interest and depth to the house and differentiate areas of the house visually. For example, halls and entryways should be white to create a large fresh space, and living spaces such as the lounge should be a cozy beige or cream in order to create depth and draw in the buyers. Overall, think plain as once again prospective buyers have to see themselves in the property and vizualise their belongings in the space. Green and red striped wallpaper make that nearly impossible! Play it safe all the way.

Childproof the Home

It is very likely that the buyer of your property will either have children already or be planning a family. The things they will look for in a home with this in mind are how suitable the space is for keeping the children happy and healthy. If you childproof the place prior to viewing, then this will just add to the property’s appeal. The main space you should look at improving with this in mind is the garden. A few simple additions and changes will put any parent’s mind at rest. For instance, a fenced and gated yard may prevent concerns about children wandering off. Perhaps get some storage space so that you can store away any tools and garden clutter.

Utilizing Space

Don’t look at the property for what it is – a two- or three-bedroom house – think of what it can be. For instance, although converting an attic to make another bedroom can be costly, it may increase the value of the property significantly. Think strategically about how you can adapt and expand the property to make the largest profit and give the place an edge over other properties available in the area.

In summary, if you follow all or simply a few of these pointers when renovating a property, you are likely to see a profitable return. Be careful with your budget, shop around, and find the best deals and quotes for the improvements.

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