A lot of people buy a home knowing that they will, at some point, want to sell it on and turn a profit. Property generally tends to appreciate in value over time, but it can become even more lucrative if you are prepared to do a little work to maximize the potential profitability of your home.
To ensure you come away from the deal as well off as possible, here are a few ideas to get you thinking.
Increase Curb Appeal
If it doesn’t make an initial first good impression, you are always playing catch up. So you need to pay some attention to your home’s curb appeal. Think about the space outside the property first. The garden, is it mown? Are there any bald patches? Are there any pretty flowers that are well-kept? If you have tarmac, paving, or gravel, etc., ensure that it does not have any weeds growing through and is in good condition. Then take a look at the house itself. Could it do with a lick of paint? Do your windows need cleaning? Think about investing in a new front door, adding a porch, or upgrading the guttering – even simple things like installing a gutter guard can be highly beneficial to the aesthetics of your home (For example, LeafFilter has designed an efficient three-piece system that allows water to run free while preventing the build-up of debris). First impressions are important when it comes to property, and it starts before any potential buyer enters the front door.
Invest in the Bathroom and Kitchen
The bathroom and kitchen are the two rooms that can make or break your home. If they aren’t right, no matter how good the decor is in the dining room, you will not make as much as you could. A good kitchen bathroom has the power to add up to 100% on to the value of your home, so invest wisely. If you are able to do the upgrades yourself, then that will push your profit up even further. Remember, the better the finish in these areas, the better the sale price.
Use the Right Realtor
It would be best if you worked with a local expert. A realtor who has the reach, diversity of contacts and respectability to enable you to get the best possible price. A company such as https://www.hershenberggroup.com/ can definitely help you achieve the best price. It is important that you spend time researching realtors, reading reviews and taking the time out to get as many valuations as you can. You will easily be able to spot the company that is able to help you achieve your goals.
Conversions
Converting an attic or a basement into another living space is a great way to add as much as 30% or more on to the value of your property. Converting spaces is generally a lot cheaper than extensions, and it has the benefit of not usually needing planning consent. Ensure that you investigate thoroughly and have a lot of plans drawn up so that the space is used to its optimum. A basement may well make a great room for a pool if you have a big enough space for it. Imagine the wow factor that would add. Although you may not want to move yourself if you had that installed.
Thanks for reading and y’all stay dandy.
-Diego
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