Every serious property investor should take the time to learn how to increase property value so he can maximise any returns on investment when it comes to selling. Property investment is really the only investment vehicle which enables the owner to actively increase the value of the asset. A shareholder can more often than not have very little impact on the stocks worth, they buy stocks in the hope that they will increase.
There is so much one can do to increase property value and you are really only limited to your imagination. Below are some guidelines to help you maximise the value of your properties without breaking the bank. most of the points are obvious, but others not so much, and each one of these can increase your property value.
1. Bright rooms give the illusion of more space, Increase the wattage of bulbs in light fixtures to the maximum that is safe.
2. Keep all woodwork spotless. Use a wood restorative to make cabinets and trim look new.
3. A lick of paint can turn a room from old and tired to new and fresh. Strip old wallpaper and peeling paint. Three-dimensional or foil wallpaper must go. Paint all rooms that needs more than a little touch up.
4. Keep the colours neutral to maximise your target market. Not everybody likes bright colours!
5. Clear clutter, too much furniture will visually reduce the size of the room. Too many pictures on the wall will do the same. Keep bookshelves neat and organized.
6. Upgrade old or worn curtains with new ones. Mini-blinds and vertical blinds are preferable to heavy drapes.
7. Replace or reface if practical; stovetops, ovens, fan hoods, and other appliances that are avocado, pink, blue, yellow, or brown. White is the preferable colour.
8. Keep counters clean and clear. The more space you have available on the counter, the larger the kitchen appears.
9. Replace any broken, worn or outdated knobs, hinges and handles on cabinets.
10. In the kitchen and bathroom, strip out and replace old grouting and caulking at the slightest hint of discoloration.
11. Consider replacing tiling around tubs and showers if the colours are dated.
12. Trim back any trees and shrubs that might be blocking the view of the building.
13. First impressions count, Remove any dead plants, flowers, and shrubs. Plant flowers and shrubs that add colour and brighten your lawn and landscaping.
14. Keep walkways, paths, sidewalks, and gutters free of weeds and debris.
15. Repair any cracks/corrosion present in gutters and touch up with matching paint.
16. Check for and replace rotting boards and posts in decking and or fencing.
17. Try to make the garage (one, two, or three car) appear to accommodate that many vehicles, even if it’s full of stored items and boxes.
18. Repair lifted or severely cracked walkways and driveways.
19. Replace yellowed, worn, cracked, broken, or missing faceplates for switches and outlets.
20. Banish smokers. In a survey in 2004, potential homebuyers listed the smell of cigarette smoke as the biggest turnoff when viewing a property.
Michael Pound –
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