Owning a home has shifted from a lifetime goal to an investments opportunity. Sure, it can be a source of refuge and act as the roof over your head, but it can also make you a lot of money if you play your cards right. Crypto, stocks, and foreign exchange are risky investments requiring expertise and might not pay off. Investing in property and adding value to the house can make you more money than you had imagined. Not only are you sitting on an asset that increases over time, but incremental home maintenance can further shoot the price up. That said, you can add value to your property with some quick repair and care. Check out these tips listed below.
Take a look at the plumbing
Water damage in the house can cost thousands of dollars. In some cases, the damage reaches the foundation, and when that happens, there’s nothing you can do. Not only does investing in an efficient plumbing solution prevent unforeseen water damage, but a new, fortified plumbing system adds to the house’s value.
Cleaning, changing, and fortifying the piping system can be a significant selling point, especially for older houses. Therefore, it is best to call a water damage advisor and have your place checked out thoroughly. By revamping the plumbing system and restoring any water damage, you can increase the house’s value and attract more buyers keen on investing in vintage property.
Fix the electrical system
Potential buyers are also somewhat apprehensive of buying homes with outdated electrical work. Live wires, short fuses, and moisture in the lines can cause voltage surges that damage s appliances. In extreme cases, these wires could spark and cause deadly fires.
It would be best to change the wiring in the house, replace the fuses, and examine the circuit breakers to ensure everything is operating smoothly. You may want to call in professionals for something like this. If you try to tackle electrical work without any experience, you may end up doing more harm than good.
You can also use the new electric system as a selling point for the house. Buyers like to know that the homeowner has taken care of the place and tied up loose ends. It generally creates a better seller/buyer understanding and can help seal the deal. While you’re at it, consider updating the light fixtures as well.
Take a look at the roof
It’s generally a good idea to head up to the roof and check on it once every year. Shingles can come loose, gaps in the framework could let water in, and an insecure roof could collapse on the house. These are all factors that need to be looked at before selling the property or maintaining its longevity.
Ensure you tend to all the roofing issues rather than merely changing the shingles. The first place to leak water during a rainstorm is the ceiling, so ensure there aren’t any loose fittings and gaps that could cause leakages or worse. Moreover, ensure that the support beams are stable. If you live in a snowy part of the country, your roof needs to be able to hold the weight of a heavy sheet of snow. A solid top also helps insulate the home, so that’s another reason to fix any damage.
Landscaping and curb appeal
The drive up to the house pretty much makes or breaks a deal. If the buyers aren’t satisfied with the outdoor appeal, they may go into the house with existing biases. Or worse- they may not even consider entering it. No matter how good the place may be on the inside, the initial catch always comes from a well-manicured yard with immaculate curb appeal.
Landscaping is essential if you want to increase your property’s value. However, there is more to landscaping than planting shrubs and mowing the lawn. Trees are a significant source of danger if you aren’t careful. If the tree is leaning too close to the house, there is always the risk of falling over.
Moreover, if you have a withered tree that is nothing but dry branches and twigs, you might want to get rid of it as soon as possible. With the rise in wildfires, a dry tree in your garden can easily catch fire from a lightning strike. It may sound far-fetched but click here to read more about the prevalence.
Painting the house
Nothing sells a house faster than a crisp, clean, and new vibe as soon as you walk in the door. When selling a used home, buyers want to get the feeling that everything is new. One of the best ways to do that is to slap on a fresh coat of paint.
You can never go wrong with an essential, clean coat of white. It’s the most versatile way to add value to the house and increase the general appeal as you walk in the doors. Moreover, it lets buyers envision other colors and designs.
However, adding different paint to the house can decrease the chance to sell. It’s all about understanding the psychology of the buyer. If they don’t like the color, you may be setting yourself up for negative bias that could tank the deal.
Update the appliances
If you want the house to sell, give the potential buyers some of the necessities they may need. You can’t expect a new investor to take your up on the offer if you hand them an empty living space with no appliances.
Maintain/update the stove, fridge, washer, dryer, dishwasher, and hot water radiator. These are all factors that could sway the buyers in your favor and help close the deal. Nobody wants to have to spend thousands of dollars on new appliances after moving in. Do it for them and make things easier for both parties.
Adding value to your home is a plus, even if you don’t intend to sell it immediately. This article mentions a few value-adding tips, including fixing the plumbing and electrical wiring, enhancing the curb appeal, and a fresh coat of paint. Following these tips will bump up your home’s longevity and help you score a better deal if you want to sell the place down the road.