Nobody would want to break, much less burn a hole through their bank accounts even if the task entails a property investment. But what many people fail to realize is that they need not spend every single dime in order to better and improve an asset’s value. There’s more to it than expensive renovations and even the experts would agree. Curious how? Check out the following tips.
- A fresh coat of paint does wonders.
Sometimes, all a space needs is a newer paint color. It makes everything look and feel fresh in an instant. Where possible, go for colors that maximize and brighten up a space. Plus, a bucket of paint is pretty cheap.
- Clean everything up.
Yes, from the inside out and every nook and cranny. Manicure the garden and bump up the curb. Weed out and mow the lawn too. Don’t leave out the rest of the property either. By simply tidying things up, value can rise considerably.
- If you need to spend, put it on the kitchen and bath.
If you have a few bucks to spare, make sure to spend it to renovate or improve your kitchen and bathrooms. These spaces spell a lot when it comes to assessing the market value of any property investment. They need to be clean, spacious and highly functional too. From changing a dingy backsplash or repainting cabinets, this does wonders.
- Add more storage.
The more storage a property investment has, the better it fares in the market as buyers want as much space as possible. This can be seen in added cabinets and shelving or the wise use of limited space such as in vertical and corner storage systems.
- Let light in.
Choose to open up a room by allowing as much natural light as possible. Choose lighting fixtures wisely as well. They need to illuminate the space and they need to do so at a frequency by which each room is intended to be.
- Increase space where possible.
A property investment is bound to increase in value with every additional square foot of space. But you need not acquire adjacent land or build an extension of the building. Those are possible but they will be hefty. A cost-effective way to achieve this would be by removing unnecessary divisions and choosing the right pieces of furniture, fixtures, accents and lighting.