When you buy a house or an apartment, your expectations may be to live in it for the next 5, 10, 20 years or even for the rest of your life. But what happens when you want to sell it for whatever reason? You would expect for its value to increase over time, right?
Although property values have increased consistently in the past, experts and experienced investors have found a way to increase that value even further. In this blog, I will be listing a couple of things that I have done in the past to increase the value of my home before selling it.
- Staging your home
When you present your assignment to a lecturer, you’d have to prepare it beforehand thoroughly by structuring it, right? If you don’t do it, chances are that you will get your marks deducted and get a lower score, perhaps even failing.
The same applies to selling your home and increasing its “score” (value). If you present it correctly with all the necessary information based on a standard set of criteria, you will be able to increase your home or property’s resale value considerably.
However, the process of staging your home is not easy because it takes experience, time and effort on your part. In some cases, trying to stage your home on your own could even backfire instead and cause the value or desirability of the property to go down. Therefore, it is important that you consider hiring property staging companies to give your home an evaluation and see where improvements could be made.
The value that a professional home staging company can bring to your property will most likely outweigh the costs in the first place because if you consider the preparation and work that must be done to stage your home, these professionals are worth every penny.
Refurbishing is common within this industry. Savvy investors often use this method to turnaround a “low scored” property into one that is worth much more to increase their return on investment. In fact, some investors use this as a primary method to make money.
For the average home owner, however, is a completely different story. Chances are, you did not buy it to refurbish and sell. Therefore, your experience and knowledge with this will likely be much more limited in terms of what to do and how to do it.
In order to know what people want, you must research the market. Once your research is done, act upon it by implementing the changes based on that research. These are often known as “trends”.
In knowing these trends, you will be able to optimise it based on what is popular in the market right now. For example, refurbishing your bathroom and kitchen into a modern style that is popular right now could drastically increase the value of your home. Professional home stagers can assist you with this by helping you identify the current trends and how to go about implementing the refurbishments.
On a final note, try to increase your home’s resale value is not an easy task. In fact, many homes today are losing value in some parts of the world due to various external factors. Most of the time however, the responsibility lies on you to increase your home’s value by preparing your home properly before the evaluation or viewing.
Many people have done this in the past and there’s no reason why you can’t do it too! Comment below and share how YOU can increase the value of your property.