Anyone who is considering property investing may have thought about increasing the value of their homes. While most people would tell you to ‘build a pool’, or to ‘add a fireplace’ real estate expert will most likely not agree. The real estate and property investing experts at Capital Wealth Property have put together some great house upgrades that can raise property value with no exceptions.
Reasonable kitchen upgrades
The keyword here is ‘reasonable’. While it may be tempting to dish out on creating a fully-fledged restaurant-worthy kitchen, but the chances of that investment actually raising value depend on many other factors. However, most buyers or renters will appreciate a kitchen with energy saving appliances, newly restored cupboards, extra storage space, easy-to clean floors and perhaps some space on the window sill for growing herbs.
An extra bathroom
If your house has a single bathroom, you will definitely be adding value to your home by adding another one. According Capital Wealth Property real estate experts, one can hope to earn back 80% - 120% of the cost of adding a bathroom. Look for a space that is not in use. Be sure to include quality fittings and to look for deals on toilets, washbasins, tubs and tiles to save money.
If you have a sizeable basement or a large attic, why let them go to waste? Converted spaces such as basements into movie theatres or attics into private office rooms can are highly attractive features for renters and home buyers. If your space allows, converting garage space into studio granny flats are another great way to raise property value.
If you live in a sunny area such as New South Wales, outdoor living spaces or sitting areas are highly valued. Building a deck that extends into the backyard or a patio can add significant value to your home. Be sure to check with your local building regulations before you proceed. It is also a smart move to do a bit of research on your neighbourhood. If outdoor seating and backyard barbecues are popular in your neighbourhood, then you can go ahead to fetch great returns!
Energy saving features
While energy costs are on the rise, homes with energy saving features are becoming more and more attractive. Energy efficient appliances, programmable thermostats and good insulation are all great upgrades. Additionally, introducing solar panels or other means of using infinite natural resources to generate energy are also highly popular.
If you are unsure as to how you can increase the value of your home, contact Capital Wealth Property for sound property investing and real estate advice.