Your home can make money for you as you sleep and what better return on investment will it be to have money in the form of assets appreciated in value for you as compared to what you even invested initially when putting up the house. However, this doesn’t just happen overnight, it’s sometimes years of constant renovations or maybe just these simple steps that shouldn’t cost you a fortune.
Usually there are 3 main things that could be a contributing factor to the depreciating value of your home.
Physical deterioration which includes;
- Curable deterioration such as roof leakages, placement, painting and the like.
- Incurable deterioration which are usually structural problems.
Functional obsolescence – simply physical design features that are no longer considered desirable. Eg home shape, appliances, rooms that aren’t en-suite etc.
Economic obsolescence– external factors that affect the desire of potential property owners to buy. Eg the property is situated close to a factory, noisy area, airport, polluting factory.
Now that we have an understanding of these let’s get into some 5 easy actions that can double the value of your home.
Modify Your Exterior( Spruce it up!)
Your exterior is the first thing an interested home buyer will see upon viewing the property and as the saying “first impressions last” 90% of people are already put off by the exterior of a home before even seeing the interior . This sometimes even affects how they feel about the entire house. So always remember ,some little painting here and there, a garden, some pavements, some external decorative lights can go a long way to increase your home’s demand rate and get the money you desire even if you built the home years ago. A fresh exterior can go a long way to fetch you more money years after you built the house.(Appreciating in value)
Declutter And Clean
A prospective homeowner will definitely choose to invest in a home that is clean and not messy. Another important way to double the value of your home is to make sure that when staging your home or organizing an open day or a viewing session make sure and do well to thoroughly clean up the property. Arrange furniture aesthetically, spray around some sweetly scented air fresheners, mop the floors, dust the tables.
Aside from the persuasive communication skills you may need to work on, this can be a great way to talk less and let the beauty of the home do the talking.
Improve Or Renovate Your Kitchen
The kitchen is an important part of the home. That’s where all the food magic is done. Even though many people assume it’s the female gender that gets overly excited about the kitchen, men, children are all equally excited about the kitchen space. A beautiful kitchen is as therapeutic as the bedroom. Thus, the outlook of the kitchen is a very important part of the
home for most home seekers/buyers. Old sinks, worn out cabinets, and like have a very “off-putting” appearance and this can decrease the value of the entire home.
Trust me, you do not want your kitchen to be the deal breaker to your millions!
Remodel to Energy-Efficient Features and Appliances.
Energy-efficient upgrades reduce your utility bills and will highly appeal to buyers, many of whom are interested in energy-efficient features to lower their own costs as a homeowner.
If your home currently features old appliances that guzzle energy, to give your interior look an upgrade should be on your scale of preference definitely. Even if it’s
installing modestly priced modern gadgets or appliances with energy efficient features, this can really help you net a higher sale price.
A Smart Home.
In this modern day and age technology has become the leading driver of all innovations and one thing that can double the value of your home is changing your home to a smart one. People like convenience, people like comfort, people want safety and a smart home can give them just that. You can include in your home smart bulbs, smart security cameras that
allow you to view your home from miles and miles away(at work or just anywhere!) voice commands that allow you to just request for the AC to be on and so shall it be. Convenient right?
In your bargain with a potential home owner this can be a great way to have the value of your home doubled. Also, focus on energy efficiencies such as heat and cooling costs or energy-efficient lighting to build home value.
Have you tried any of these easy actions? Let us know how it went!
Do you want to arrange a viewing? Talk to us.