When it comes to putting your family home on the market, you are most certainly going to want to ensure that you get the maximum possible amount of money for your property in any sale. The worse case scenario should be getting market value for it.
Fortunately, there are lots of free guides online that can teach you how to maximize the resale value of your home. If you don’t like reading, you will find many videos on YouTube featuring 10 tips in increasing the value of your property that you can watch. The important thing is to make sure you learn as much as possible before you list your property with a local realtor and start accepting viewings.
In this article, we are going to present a few tips for adding value to your home, but it’s important to keep in mind that all of them might not be suitable for your property. You really need to decide whether completing renovation work is going to be worthwhile. For example, if the construction work is going to take weeks and only add 2% to the resale value of your home, it might not worth it.
1. Split Your House Up
This might sound like a ridiculous idea at first glance, but splitting your family home into 2 or more flats can increase the overall value by over 30% depending on which area of the country you are located. When a property is split into multiple units, owners can really maximize rental income, so it’s often much easier to sell your family home if it is split up.
Obviously, you will need to get planning permission from the relevant authorities before you undertake such a project. Once you take care of that you can easily split up your house with a Toronto roofing contractor. They will be able to make all the changes you need simple and easily.
2. Convert Your Cellar
Turning your home’s cellar into a usable storage space or living space can increase a building’s value by up to 25%. Taking on a big project like upgrading your cellar can be expensive, but it’s going to be well worth it even if you need to finance it.
What’s more, converting an existing cellar into living space is a relatively simple home construction project that can be completed without major disruption to the rest of your property. In built-up cities, every last square foot of usable floor space you create in your property will add value.
3. Tidy Up The Surrounding Landscape
Your property needs to have a good curbside appeal if you want to get the best price. This means any front yards and driveways you have need to look good.
Even just cutting your front lawn and removing all weeds between driveway slabs can increase your home’s curbside appeal tenfold. If you have a lot of land surrounding your home that you have let get out of control, you might have to consider hiring the services of a professional local landscaping firm.
4. Convert Your Attic Into A Bedroom
In general, the more bedrooms your property has, the higher its resale value is going to be. In fact, an extra bedroom can add 15%+ to the market value of a residential building.
Not every type of attic can be converted into living space, as the shape and height of the roof might restrict the option. In addition, you need to make sure the foundational structures on your property can support an attic conversion.
5. Replace The Bathroom
A new bathroom can add up to 5% to the resale value, especially if your current bathroom is more than a decade old. Remember that photos of the bathroom will be displayed on your online property listing page and an old-looking bathroom can put off a lot of buyers. Renovating your bathroom doesn’t have to cost very much at all. You might be able to do a lot of the work yourself and you can buy end-of-line or ex-showroom furniture and fixtures to keep costs down.
6. Replace The Windows
If your property does not currently have weather-proof, modern windows, investing in this upgrade can add considerable value to your home. You need to make sure you hire a window fitting firm that is fully regulated and is using windows from approved manufacturers.
Hopefully, the six tips, featured above have given you some things to think about when it comes to increasing the value of your property. You will find many more tips online, so make sure you take the time to research your options.