We all know moving house can be expensive. The good news is, it can be lucrative if you do it right. Whether you’re planning on moving soon, or are taking steps for when that time arrives, we’ve got some tips for increasing value on your house. You may not think about property as a business acquisition, but it’s time to change your mindset. You can spend as much as you like on improving your home, or you can do things on a budget. Either way, you should turn your attention to the money you stand to make! These options should give an idea of how to increase value.
UPDATE FIXTURES
Updating fixtures is a cheap and relatively easy way to add value. Think about windows, doors, and light fittings. You may be lucky and have top of the range pieces already. If your fixtures are older, it’s worth spending money on updating. Look into replacement windows. Consider top of the range options. Double glazing is always worthwhile, and can save you money on heating at the same time! Update your doors, too. Think of aesthetically pleasing doors that would suit your home. It’s worth updating light fixtures if they’re old. Ensure, again, that the fixtures look good. Getting rid of hanging wires etc. will make a huge difference.
EXTENSION
Home extension is the most lucrative way to increase home value. It may be an expensive task, but it’ll pay for itself in no time. If you have money behind you, set your mind to the most lucrative options. Weigh up the costs. Spending an huge amount on the work could leave you out of pocket in the long run. Take a look at prices of houses with similar work done, to get an idea of whether it’s worthwhile. Doing work in attic and basement spaces will be cheaper than building structural extensions. Consider your options, then get stuck in!
DECORATION
Keeping your house decoration up to date is the easiest thing you can do to ensure your home makes you money. It’s important to keep on top of the general appearance of your home. This will make selling easier when the time comes, as well as making it more likely you’ll get asking price offers. Spend some time working out your home design to ensure you get it right. Try to update every few years so that your house stays up-to-date.
PATIENCE
Aside from all this work, patience is an essential factor in making money from your home. Even with no effort, homes increase in value over time. If you just sit back, your house will still be gaining in value. If you’re considering selling, keep an eye on the housing market and see what homes like yours sell for. It can sometimes make sense to wait a little longer. Don’t sell before you’ve made any money. Equally, home prices go down sometimes. If that’s the case, it’s worth selling as soon as you can so you don’t lose anything!