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Home Upgrades That Can Boost Your Property's Resale Value
When you decide to put your house up for sale, you will likely have a real estate appraiser compute the value of your property, and recommend a reasonable selling price to you. Often, the key considerations they make are location, accessibility, and the property’s condition. Impressive architecture and interior design, as well as being built by a reputable developer, can also help your home net a higher appraisal.
However, as a homeowner, the property’s condition is what you have the most control over, where even the slightest improvements can contribute a great deal to the increase of your property’s value. This need not always be a complete renovation, and can simply be some select improvements.
Lamudi Philippines has put together a list of renovations, improvements, and upgrades that can help boost your property’s resale value, and earn you a profit in return.
1. A Little Paint Goes a Long Way
Paint is one of the simpler home improvements one can do, and when done professionally, it can make an old house look rather new. A new paint job can also mask a structure’s aesthetic flaws, which tend to be mistaken as structural ones by novice property buyers. However, make sure that you choose muted, neutral colors, which appeal to the greatest number of people.
2. Take Note of the Top and Bottom
The floor is considered one of the most significant selling points of a home, while eyes often tend to gravitate upward toward the ceiling, with the condition of the top and bottom indicative of how well the property is taken care of. If both the flooring and ceiling are already dilapidated, then it should be replaced or repaired to not only sport a consistent look, but also help keep the property structurally sound.
3. Enhanced Windows for Better Lighting
Natural lighting plays a significant hand in staging a property for viewing, especially for homes being sold as they are. While cleaning windows and making sure they are all functional is a start, their size may not be enough for adequate light to enter. Take this opportunity to expand and enhance your windows, and consider upgrading them with insulating materials.
4. Make Regular Improvements to the Kitchen
Considered by many as the center of the home, the kitchen is a key consideration for most home buyers. While it is arguably the costliest to renovate, your kitchen need not go through a complete overhaul, as even modest improvements can help increase a property’s value. These can be as simple as re-varnishing kitchen cabinets and drawers, or replacing leaky fixtures and worn-down sinks.
5. Give Some Attention to the Outside
While the land you own may be substantial, its size may not garner too much interest from buyers if it requires plenty of work. Make it more of an asset by planting suitable foliage, which help with increasing the value added. Also develop a well-kept lawn for your front and back yards; or, if you would rather not have to do too much maintenance, have it professionally designed and paved.
6. Extend Your Home
While expansion may be significantly costlier in comparison to the other improvements in this article, it is arguably the one that increases the value of the property the most besides full renovation. If the lot area of your home permits, you can look to extending your home via an additional room or an expanded kitchen, or build another bathroom that from a selling standpoint would also make your home more attractive. For those with less horizontal space, it is also sometimes possible expand up.
7. Take care of your furniture and appliances for the future homebuyer
Out of all your assets, automobiles, appliances, and furniture are not the best investments because they immediately depreciate once taken out of the store. Individually, they do not garner much in resale either, but as part of a home being sold, they may help increase the price. If you are getting new things for your next home anyway, leave your old things in the old one, where you have hopefully kept them in good condition and fully functional. In the Philippines, it is always a plus when you sell a property as semi- or fully furnished.
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