Some updates that you make to a property can be affordable or expensive.
It all depends on the depth of the renovation and the kinds of materials you choose.
However, no matter the cost, updates can raise the property’s value significantly.
#1 Consider an Architectural Change
If there are rooms in the property that would be regarded as lifeless, you can brighten them with an architectural change such as adding a crown molding.
#2 Changing Windows or Doors
Other updates that can increase the property’s value are the windows or doors. Not only will the look of a room improve, but there are other benefits.
As far as windows go, there can be improvements such as noise reduction, a lowering of the heating and air-conditioning bills, or an increase in the natural lighting of the rooms.
As far as the doors, such as switching your current doors to French doors, an elegant look can be achieved as well as bringing in more light and creating more of a feeling of space.
When you change the position of windows or doors, you can highlight parts of the property that benefit the property and get rid of views that don’t help the property, such as a window that faces a brick wall or a window that gives a view directly into a neighbor’s home.
#3 Add A Fountain
Adding an ornate fountain to the garden or the outdoor area adds an element of luxury and makes space feel more than it is. It can be a great way to make a garden look great and if you’re interested look at Outdoor Fountain Pros for ideas.
#4 Change the Lighting
Switching the lighting in the space, such as with the use of skylights, can create more light in a room, particularly for a room that lacks natural light.
#5 Change the Flooring
To increase the property’s value, get rid of the old carpet by replacing it with new carpeting in the current styles. Or consider removing carpeting entirely and replace it with hardwood or tile flooring option.
#6 Reduce the Noise in the Property
When a person lives in a home, for example, he or she wants to live in what they would consider being an oasis. Noise reduction can help create that effect.
You can increase the property’s value and create an oasis by adding insulation, installing windows and doors that are double pane, installing rugs and carpets that reduce the sound of footprints, and even include plants to reduce noise.
#7 Change the Kitchen or Bath
One of the best ways to increase a property’s value is to update the kitchen or the bathroom. It doesn’t have to be a gut renovation.
Changes can come from switching out the flooring or changing the countertops as well as buying new appliances. Toilets, sinks, and bathtubs can be switched out in the bathrooms.
#8 Gut the Kitchen or Bath
Of course, the pricer option to change the kitchen or bathroom is with a gut renovation. That means the existing room is destroyed for a new build.
For the kitchen, it would involve adding all new parts including new cabinets, countertops, flooring, lighting fixtures, appliances, sinks and faucets, new wooden or oak furniture and more.
For the bathroom, it means a new tub, shower, toilet, wall tile, flooring, and more. These changes could also mean changing the entire footprint of the room.
#9 Change the Siding
A significant change that can update the value of a property is refreshing the siding. The kind of siding for a home depends on the location and the climate.
Therefore, some options are pricier than others. Not only will new siding update the look of the home, but it can also help with utility bills.
#10 Change the Floor Plan
Updating the floor plan of the property can make the property more functional and, therefore, upgrade the property’s value.
A wall could be torn down between the kitchen and the living room, opening up space. The footprint of the kitchen could be redesigned for more functionality.
The master suite could be improved with the addition of a bathroom. Rooms, such as the office and the dining room, could be swapped to create an improved flow.
Or space from one room could be added to another room. For example, space from the living room could be included in the kitchen to create a pantry.
#11 Include More Square Footage
One way to improve a property’s value is to complete unfinished rooms. An unfinished basement or attic could be finished, creating another place for the property.
Even something such as an attached garage could be created into a room.
#12 Gut a Property
Finally, the most involved way to improve a property is by tearing it down to its footprint and rebuilding it with a new design and improved materials.
However, gutting a property should not be done if you will be unable to sell the property for more than what you put into it and what you owe.
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