Do you want to increase the value of your property before selling? Perhaps you aren’t planning on selling just yet, but you are planning ahead for your next move. Either way, you will want to ensure that you can get as much as you can for your current home, which will place you in the strongest possible position for your next property purchase. As any realtor will tell you, there are a number of different ways to boost your home’s valuation. One of the most effective methods is through home improvement.
Larger home projects may be the most obvious way to add significant value to your property, but even more, basic structural repairs and cosmetic enhancements can increase the desirability of your home and make it seem more valuable. Here are some of the top home improvements you can make to increase your home’s valuation.
Not all structural defects are visible, but they can have the most severe financial impact on the value of your home. This is because correcting them can be expensive and time-consuming. In some instances, a report by a structural engineer that shows problems could cause a sale to fall through altogether. Some of the most common structural defects include:
Missing/broken roof tiles
Rotten joists or timbers
Unstable chimney stack
If you suspect that your home may have structural defects, we recommend that you get them sorted well before placing your home on the market.
Space sells and the more that your home has to offer, the more desirable it will be. Transforming an existing cellar into living or safe storage space could boost your home’s value by up to 30%! Meanwhile, an extra bedroom in the form of a loft could add as much as 15%. It is important to bear in mind that you may need to check with your HOA or local planning authority before starting this reconstruction project. Fortunately, most conversions are relatively straightforward, especially if you hire professionals to undertake the biggest structural changes and the fitting of electrics and potentially water/drainage.
If you have a particularly old home or one that hasn’t been re-wired in a while, updating the electrics can be a great way to add value to your home. However, it is a disruptive process and should be undertaken before you start thinking about cosmetic enhancements such as plastering or painting. With our greater reliance on technology than ever before, extra electrical sockets are always a welcome addition to any home, and you can use the opportunity to upgrade any fixtures or fittings such as sockets and lighting.
Similarly, ensuring that your plumbing and heating systems are functioning properly is extremely important. These will be important to potential buyers who will want to know that your home is as energy-efficient as possible. You can even consider putting in new, modern radiators to update the overall look of your home.
As we know, space sells. Open-plan living is also very much on-trend, making homes that offer this lifestyle all that more appealing to potential buyers. You can transform your home and save on the cost of extensions simply by eliminating a few walls. Of course, this can’t be done without due care as some of your walls may be integral to the structure of the building. However, once you have sought the advice of a professional, some internal walls removals are simple and can be done yourself and can quickly make your living space appear to double its original size. Open plan living could increase the value of your property by as much as 5%, so it is definitely something to consider when selling your home.
A kitchen is often considered to be the heart of the home and as a single room, has the greatest value compared to any other part of the house. Clean, functional and spacious kitchens are highly desirable and can make or break a property sale. The good news is that very often, kitchen renovations can be undertaken on a relatively small budget and often with a big reward. Consider repainting or replacing the unit doors, updating the worktops, or improving the lighting to give your kitchen a fresh new look.
To find out more information about increasing your home's valuation through home improvement or to set up an appointment with our real estate team in Texas, contact us.