Price Appreciation: 5 Factors That Can Increase the Value of Your Residential Property
If you’re looking to increase your property value, your renovation journey will probably be a bit different compared to those who simply want to align their home with their needs. You’ll want to focus on the areas that have the strongest impact on your bottom line with the smallest outlay possible. The strategies below are a great way to do exactly that:
Features Aligned with the Area
One of the best ways to increase the value of your home is to add features aligned with the local environment. For example, if you live on the Surf Coast of Australia, you’d want to speak with Ocean Grove home builders to find out what inclusions work for the salt air and coastal soil.
By contrast, if you were building or renovating a house in Alberta, Canada, you’d have an entirely different set of desirable features to consider. Either way, local builders are going to be your best friends as they understand the impact the environment will have on your build.
Landscaping
Giving your front yard and the exterior of your home a facelift can greatly boost your sale price. Some homes will need significant landscaping, and this is what will get you the best results at auction. However, in many cases you can get away with just ensuring your driveway is good, adding some plants, and giving the exterior a fresh coat of paint.
New Floors
Another thing that can have quite a large impact on the value of your home is the flooring. The floors you choose set the foundation for your entire design, so if your current ones are outdated or damaged, it can significantly reduce the value of your home. Just make sure you consider what kind of floors are best for the space you’re looking to install them in, or you might run into issues with functionality.
A Fresh Coat of Paint
Speaking of a fresh coat of paint, this can also work wonders for your home’s interior. Old paint can make even the most beautifully designed space look and feel shabby. On the flip side, a good paint job is an easy way to quickly increase your property value. The best part here is that as long as you put in the effort to do it properly, this can be a DIY project, potentially saving you thousands.
Try adding a feature wall for extra impact and value, or really take things to the next level with some wallpaper. Just be sure that whatever you pick will appeal to a wide demographic. Otherwise, you risk limiting your potential buyer pool.
Going Green
Finally, going green can greatly increase the value of your residential property. Eco-friendly improvements are incredibly popular as we move toward a society that works in harmony with nature rather than against it.
Sustainable elements may soon become legal requirements, so it’s a good idea to get ahead of the game. The best part is that sustainable renovations aren’t just great for the planet – they’re also fantastic for your back pocket. Not only will you increase your property value, but you’ll also decrease your bills, meaning you win on multiple fronts.
Renovating for profit or to increase your property value requires a bit more effort than simply changing things up to better suit your family’s needs. It can be done, however, and as long as you are strategic about your renovations, you can make a significant impact without blowing the budget. Hopefully, the tips in this article have given you the inspiration you need to get started.
Mark Ligon is the Marketing Manager at a leading e-commerce store in plumbing supply. Mark focus is on DIY projects and providing creative and practical advice to individuals looking to complete DIY projects of their own
