If you’ve thought about buying a house in the near future or have one and are thinking about doing some renovations to it, keep on reading. There’s a whole line of business in real estate called “fixing and flipping” where a property is purchased, fixed and resold, because the updates done to it increase its value. Fix and flip real estate investors make substantial amounts of profits from these endeavors and so doing the same kinds of upgrades to your house can increase your home’s value, and in turn, your net worth. In this article we will discuss some of these methods, so you can do them yourself.
We’ll start by listing some of the most common ways to renovate your home which will automatically increase its visual value, and in the future can also increase its financial value. We will then discuss each bullet point in a bit more detail.
- Upgrade the exterior
- Get some French doors
- Upgrade the bathrooms
- Upgrade the kitchen
- Add eco and green products
- New Interior and Exterior Paint
- The Front Door
By upgrading the exterior, we mean adding curb appeal, making your backyard more attractive, adding a fence like a fence from Nortex Fence & Patio Co., adding synthetic grass, maybe digging a pool. French doors are an automatic visual enhancement. They are not that expensive, and not only do they look great, but they are also super functional since they give you a wider entrance and open into the home. No matter what year your house was built in, if it has not been upgraded in the past ten years, we can assure you that the bathrooms will need to be remodeled. Tile sinks, vinyl floors, and light bulbs must go. What substitutes these materials are granite vanities, recess lighting, and beautiful tile.
Next, is upgrading the kitchen. If you don’t have the budget to remodel both the kitchen and bathrooms at the same time, start with your kitchen. If people are coming to your home, they will see and care more about the kitchen than the bathrooms. Some kitchen upgrades include all appliances, new flooring, recess lighting, and new cabinets. An island is a great but costly upgrade as well. Adding green products to your home will for certain create a return on investment. Paint and front door are the easiest to do.
In conclusion, in this article we discussed a few ways in which you can add visual and financial value to your home or recently purchased property. These include new paint, French doors, updates to the bathroom and kitchen, and any exterior updates such as grass or a pool. If you’re getting ready to sell your house, we advise you do these updates right away before you list the property to get the best and highest offers from families and the new property owners. You will financially benefit from doing these sorts of updates to the property that you have on the market.