People buy and sell homes for various reasons. Some probably are upgrading to another, bigger house. Others view it as an investment. There are a few things you can do to ensure that your investment pays off and renovating your house is a good bet. After all, the aim of investing in property is to ensure that you do get back your returns and make a profit at the same time. Wise renovating will ensure that your property is “sellable” in the eyes of other buyers. Here are a few tips that you can use.
Forget the living room or study, your kitchen is actually the mainstay of any home. Whenever people buy houses, the main factor that clinches the deal is the kitchen. After all, you notice that people love congregating in the kitchen area. Look about your kitchen critically and try and spot places which need upgrades. Changing the existing flooring to marble or stone is a good bet because it adds a touch of elegance into the kitchen area. How about replacing the old fashioned countertop with something more modern and stylish? You can also consider putting in new cabinets or upgrading some of the equipment in your kitchen. This will definitely entice buyers to really consider your property above others.
Next to the kitchen, the bathroom is another important factor. If your bathroom is still suited up in the “old style” i.e. unsightly cement tiles, old fashioned sink and bath tubs, you will find that buyers would probably not think about your property. However, invest in some renovation in the bathroom area and you will see the trend start to change. You would probably need to splash out quite a fair bit in this aspect for a complete overhaul of the bathroom. It will be worth it though because you would probably be able to get an offer good enough that you will get back at least 80% of your total costs.
Why do you think three-bedroom houses sell more than their two-bedroom counterparts? People who invest are forever looking into extra spaces. Plus, you just might be able to lure a big family in who is willing to pay more for that extra space. Of course, we are not asking you to completely renovate and add a new section to your house. However, you are advised to have a look around and see if there are any unused spaces that you can convert to an additional bedroom. Maybe you have basement or attic space that you only use for storage. If you do it up nicely, it will be an added advantage and selling point for your property, for sure.
There are many reasons for one to think about going into massive renovations for their property. The overall cost might be overwhelming but the benefits are numerous. Spending that little bit of extra money will be to your advantage in the long run. That is something you will see when you are trying to sell off your property.