Property, land valuation or real estate appraisal is the process of determining a property’s market value. Any transactions revolving around real estate must include appraisals since they are an infrequent occurrence. And this is compounded by the fact that every property is unique, which is not the same as corporate stocks that are identical and traded daily. Below are a few hot tips on how to increase your property’s value before finding an agent and starting with the floorplan designer.
- Identify Your Target Market
Start by researching the market do avoid spending hours looking into a property that will not add value to its final price tag. Go online and search for relevant information that will help you determine the kind of buyers who might be interested in your home. It could be a retirement opportunity for some or an ideal place for a young family. By figuring this out, you could have a clearer idea of the changes you can make to draw potential homebuyers.
- Spruce Up the Exteriors
Is your home’s exterior presentable and welcoming? Always remember that first impressions must have a lasting impact. Therefore, your property’s front exterior is what people see and must be easy on the eye. For this to happen, you should clear the roof and gutters, trim the hedges, mow the lawn, clean the windows and get rid of any clutter. Update the entryways by adding some vibrant colours to the doors, ensuring they make a statement – purple being a popular choice. If you need some inspiration, consider looking around your area to see what others have done to improve their home’s kerb appeal.
- Touch Up the Hallway
Hallways are often the last area that homeowners consider as a selling point. They are often narrow spaces cramped with shoes and coats or general stuff. But the hallway is the first place that visitors see when they enter your home. As such, it holds a significant influence that you give it credit for regarding your property’s valuation. Therefore, paint it with a pale colour that helps maximise natural lighting, and place a mirror to help make the hallways feel more spacious. Organise the shoes and coats, keeping them in designated storage to minimise clutter.
- Consider Loft Conversions
Converting a loft is one of the easiest ways of adding some square footage to your home. However, you should consult with an experienced architect or surveyor to ensure you know and abide by the existing building regulations.
According to studies, loft conversions can increase a property’s market value by as much as 12.5%. Moreover, creating a secluded master bedroom or converting one into an en-suite can significantly impact the home’s market price than what it would cost to complete the conversion.
- Make the Most of Wasted Spaces
Do you have a spare room or garage full of junk or a wall that seem out of place? Such wasted assets can be leverages as selling points. For instance, you can convert that cluttered spare room into a study; the garage can become a home office or gym. As for the wall, you can knock it down if it is not load-bearing to create more room. Any of these ideas will be inexpensive to implement and can increase the home’s value.
- Revamp Kitchens and Bathrooms
The kitchen is one of the crucial areas of a home that buyers assess. Therefore, upgrading it from that tired looking cooking spot into a place that exudes a homely vibe will be helpful. Consider changing or painting the cabinetry, decluttering the worktops, and refreshing the room from the floor to the ceiling. Do the same for the bathrooms. Replace the old faucets, freshen up the sinks, tiles, and grout, and add some colour by painting the ceiling and hanging new towels.
If you need inspiration, check out Phil Spencer and Kristie Allsopp or other property experts offering home renovation programmes that a rich source of invaluable tips and advice. Conversely, contact a reputable architect to help you see your home in a new light. Also, check with your local real estate agent for additional information after valuing your property.