Simple Ways to Increase the Value of Your Property
If you’re getting into real estate, chances are you have one thing at the forefront of your mind – profit. This is a venture that people dabble in to make money. So, you’re going to want to make the most possible from each property you invest in. While this will take some work and a little investment, you’ll find that it’s more than worth the outcome. Here are just a couple of different ways that you can significantly increase the value of any property you’ve invested in or are planning on investing in!
The most common way to drastically increase the value of any property is to carry out renovation work. Renovations can radically alter any space to better tick more people’s boxes. If you have any space surrounding your property that you can use, an extension can make your property have more bedrooms, which means you can up the price – whether you’re selling or letting it out. If your property has a basement space, or space below that can be extended into, you can use the services of a Basement Company to create extra space below your property – again, increasing value. If your property has any old, dated or even dilapidated spaces, some renovation work can see things spruced up and made desirable. That could be a new kitchen, a new bathroom, or other spaces.
If you’re planning on buying to let and becoming a landlord, you’re going to find yourself offering your property on one of two bases. The first is furnished, the second is unfurnished. The type that you offer will depend entirely on who you intend to let your property to. If you’re planning on letting to older individuals or families, unfurnished tends to be preferable. These individuals often have their own belongings that they want to move into the property and will really want to make the space their own. If you’re planning on letting to students, young professionals or short term lets to people who may be upping and moving regularly, furnishing your property is likely to seal more deals. These individuals either don’t have their own belongings yet, or don’t want to be tied down to large belongings like furniture and appliances. Furnishing these spaces allows them to move straight in without having to invest massively in the property themselves. Having the option of a furnished property maximises the pool of people you can let to and makes your property more desirable. You can also charge extra for furnishing the space, making the property more profitable for you!
These are just two ideas to get the ball rolling for you. Increasing the value of your property means more profit for you. Whether that’s by selling the property at a higher price, or being able to charge tenants more for rent on a monthly basis. So, get invested, get involved and make the most of any property you have!