Every serious property investor should take the time to learn how to increase property value so s/he can maximise any returns on investment when it comes to selling. Property investment is really the only investment vehicle which enables the owner to actively increase the value of the asset. A shareholder can more often than not have very little impact on the stocks worth, they buy stocks in the hope that they will increase.
There is so much one can do to increase property value and you are really only limited to your imagination. Below are some guidelines to help you maximise the value of your properties.
How to increase property value – Exterior:
Trim back any trees and shrubs that might be blocking the view of the building.
Plant flowers and shrubs that add colour and brighten your lawn and landscaping.
Remove any dead plants, flowers, and shrubs.
Keep walkways, paths, sidewalks, and gutters free of weeds and debris.
Mow the lawn weekly during the spring, summer, and fall. Mow as necessary during the winter.
Keep tools, garbage cans, hoses, toys, and other items stored neatly in the garage or shed when not in use.
Repair any cracks/corrosion present in gutters and touch up with matching paint.
Check for broken or cracked shingles or roofing tiles. A pre-emptive roof inspection with repairs can save a lot of headaches later.
Check for worn, corroded, or rusted flashing around vents and chimneys. Spot clean and use protective paint on all areas to match.
Check for rotted boards and posts in decking and fencing. Add support for weak fence posts by adding 'sister posts' or consider replacing posts.
Use outdoor stain, sealants, and protectants to brighten up bleached decking and fences.
How to increase property value – Interior
Increase the wattage of bulbs in light fixtures to the maximum that is safe.
Vacuum often. Dirty carpets wear out faster and unevenly.
Keep all windows and sills clean.
Keep all woodwork spotless. Use a wood restorative to make cabinets and trim look new.
Dust regularly and watch for cobwebs in corners and on light fixtures.
Paint any room that needs more than a little touch up.
Keep the colours neutral to maximise your target market. Not everybody likes bright red and blue walls!
How to increase property value – Furnishings
Replace worn or dated furniture and keep traffic areas clear. Too much furniture will visually reduce the size of the room. Too many pictures on the wall will do the same.
Keep bookshelves neat and organized. Try to eliminate clutter.
Visit model homes, designer showcases, and furniture show rooms for more ideas.
Upgrade old or worn curtains with new ones. Mini-blinds and vertical blinds are preferable to heavy drapes.
Keep fresh flowers from the garden, florist, or supermarket out, but avoid strong potpourri and other air fresheners.
How to increase property value – Kitchen
Professionally clean all appliances, counters, backsplashes, cabinets, and floors.
Replace broken, worn or outdated knobs and hinges on cabinets.
Make sure all cabinets close properly and all drawers operate smoothly.
Replace or reface if practical; stovetops, ovens, fan hoods, and other appliances that are avocado, pink, blue, yellow, or brown. White is the preferable colour.
Keep counters clean and clear. Anything not used daily in the kitchen should be stored out of sight. The more space you have available on the counter, the larger and more inviting the kitchen appears.
How to increase property value – Bathrooms
Always keep counters clear. Keep daily toiletries in a basket that can be stored underneath the sink or in a cabinet.
Strip out and replace old grouting and caulking at the slightest hint of discoloration.
Make sure faucets don't leak and replace any fixtures that have lost their finish.
Strip old wallpaper and paint. Three-dimensional or foil wallpaper must go.
Keep bathrooms spotless and smelling slightly of cleaning products.
Consider replacing tiling around tubs and showers if the colours are dated.
How to increase property value – Bedrooms
Keep curtains open to let in more light
Keep extra furniture to a minimum.
Limit pictures, paintings, photographs, wall hangings to a minimum.
Fill the closets with toys, clothes, and anything else that might be left out. Anything extra reduces the size of the room.
How to increase property value – Garage
Keep as many items as possible neatly stored in rafters, cabinets, or boxes.
Try to make the garage (one, two, or three car) appear to accommodate that many vehicles, even if it's full of stored items and boxes.
How to increase property value – Miscellaneous
Keep fireplaces clean. Replace old grates and screens that are worn or unattractive.
Keep window screens and vent screens in good repair. If screens are not necessary for certain windows, remove and store them in the garage.
Make sure doorknobs aren't loose and all doors latch properly
Replace yellowed, worn, cracked, broken, or missing faceplates for switches and outlets.
Patch and paint settlement cracks on a regular basis.
Repair lifted or severely cracked walkways and driveways.
Don't use the front yard, side yard, or backyard to store cars, boats, and other large items. Get a storage unit for this and anything else that affects the visual impression of the property