Buying a property is a great financial investment and the perfect way to lay down some roots. When you’re viewing potential new homes, you’ll want to find somewhere that meets your needs and complements your lifestyle. However, choosing a property that requires renovation or remodeling can be a savvy way to maximize your return.
Of course, the success of your investment will depend on making the right changes to the property, says North County Property Group. While some projects will enhance the way you use your home and others will increase its value, there are certain renovations which will achieve both objectives. If you want to upgrade your living environment, take a look at these top ways to increase the value of your property today…
- Convert the basement
If your property has a cellar or basement, be sure to make good use of it. Leaving a basement unattended can cause a range of problems, including hidden leaks and rapid mold growth. By converting the area into a useable space, you minimize the risk of property damage occurring and create an extra room to enjoy. Professionals like L Miles Building Services can your job much easier.
- Replace windows and doors
The windows and doors of your property don’t just play an important functional role, they’re integral to the aesthetic too. Aluminum frames are ideal for contemporary homes, for example, while timber finishes work well with traditional properties.
As well as increasing the value of your property, replacing doors and windows can significantly lower your monthly bills. Installing new fixtures increases energy efficiency, which will reduce your fuel consumption quite considerably. Furthermore, choosing the latest innovations, such as a high-rated security glass, will enhance your home security and could even lower your insurance premiums.
- Overhaul plumbing and drainage
Homeowners tend to take their plumbing systems for granted, until something goes wrong! While drain unblocking and relining can be used to resolve issues once they’ve occurred, proactive maintenance can reduce the risk of damage. What’s more, keeping your drainage systems well-maintained also helps keep your home free from nasty odors and excess bacteria.
If you’re still looking for your dream home, be sure to have a CCTV drainage survey carried out before you make an offer on a property. Often, homeowners don’t realize there’s a problem until they’ve already signed the contracts and moved into their new home. Having a pre-sale drainage survey undertaken will enable you to identify any potential issues and have them resolved prior to your move in date.
- Add an extension
Property values are largely dependent on the number of rooms the structure has. A four-bedroom home will almost always be worth more than a two-bedroom property in the same area, for example. By extending the property, you can add more rooms to your home and increase its value by a significant amount. As well as boosting the return you’ll get if or when you decide to sell, extending your property will also give you extra living space to enjoy while you’re residing in the property.
If you don’t have much outdoor space to facilitate a ground floor extension, there’s no need to worry. Extending upwards is a great way to create useable space and an economical way to increase your property’s value. With an attic conversion, you can add an extra room, suite or even a whole new story to your property.
- Landscape your gardens
If you have a garden, yard or driveway, it contributes to the overall value of your home. This means you need to factor it in when you’re looking for ways to increase value and generate more profitability from your investment.
If you’re not a fan of gardening, hire a landscaper to overhaul your outdoor space and make it work for you. Hard landscaping, such as patios, decking and paving, can be a stunning addition to any garden and requires minimal maintenance. Similarly, adding a gazebo, pagoda, lighting and heating will increase the functionality of your outdoor space and make it an integral part of your home.
Making the Most of Your Property
Before you make any major changes to your property, it’s important to consider the impact it will have on your day-to-day life. If you’re living in the property, as opposed to turning it around for a quick sale, you’ll want to ensure it works for you and your family. With plenty of scope to add value while making bespoke adjustments, you can create your dream home while adding a considerable amount of value to your property.
