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Tips on how to increase your property value

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There are a myriad of options available if you want to increase your property value – you can go for a budget-friendly approach or choose in-depth renovations that can create a significant impact.

Here are a few helpful tips, both low and high cost, which can increase the value of your property:

Low-cost approach

If you want to boost your property’s appeal without breaking the bank, you can go for a simple approach that won’t consume too much of your time or money. While these might not add a great amount to your property’s value, they can still create a positive impact that can help attract potential buyers.

  • Boost your curb appeal – You can make your home more inviting just by adding a few outdoor lights, installing a new mailbox, or adding new plants and flowers in strategic areas.
  • Clean – Clean both the inside and outside your property. Dust, dirt, stains, clutter, and unpleasant odors will repel interested buyers.
  • Repaint – A fresh coat of paint can help brighten up any dull living space. Use neutral colors to make interiors desirable to buyers from both genders.
  • Buy new fixtures – Simple touches such as replacing door knobs, cabinet handles, light switch covers, light fixtures, or house numbers can add a huge impact.
  • Stage your home – De-clutter your living spaces and see to it that each room has a clear purpose. You want buyers to imagine themselves living in your property. Be sure to also clear out closets, cabinets, and other storage areas to show off your home’s storage potential.

High-cost approach

If you don’t mind spending a bit more to add significant value to your property, below are a few updates you may want to consider. The cost of these updates may vary depending on the extent of renovation and the quality of materials used.

  • Floors – Re-carpeting or adding hardwood or tile floors can add more value to your property.
  • Changing windows and doors – This is a high-impact update, as it can improve multiple things in your property, including aesthetics, noise reduction, increased light, and energy efficiency.
  • Upgrade your siding – You have multiple options for home siding. The best type for your home however, will depend on your location and the climate in your area. Updating your siding can boost your home’s aesthetic value while also reducing utility bills.
  • Partial kitchen and bath renovation – When renovating your kitchen or bath, you can opt for a partial renovation by changing the flooring or replacing your countertops with new ones. You can buy new appliances for your kitchen and replace your existing toilet, bathtub, or sink for your bathroom.
  • Full kitchen and bath renovation – If you have a bigger budget, you can choose to completely overhaul your kitchen and bath. You can plan a new floor layout and replace everything including your faucets, appliances, showers, tubs, tiles, toilets, flooring, and other fixtures.
  • Adding more living space – You can add more square footage without necessarily adding a new section to your property. You can finish an unfinished basement, attic, or attached garage to turn it into an additional living space.
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