Sponsored: Transform your property today
By Gitonga Muriithi
Whether you are aiming to enjoy the home you are living in more or looking to increase the resale value of your property in the future, having a home that is up to the current market standards is a huge plus.
The value of a home is only worth what someone is willing to pay for and in most instances, it is the attention to detail that will compel a potential home buyer to agree to complete a purchase.
Rather than just purchasing a property and hoping it increases in value over time, there are some interventions you can deploy to your property to increase its value.
Adding an extra room
Have you ever considered adding a room to your home? Maybe it’s time to.
If you can transform a two-bedroomed house and into a three-bedroomed unit then that is likely to appeal to a broader set of the market and people are going to be willing to pay more for the extra room.
You could build the room within the existing structure by changing the layout or it could be by doing some kind of extension on the property.
Maintaining Your Indoor systems
When looking to buy a house, a crucial thing potential home buyers’ factor in is the functioning of the indoor systems.
The condition of the indoor systems greatly determines the value of your home. Here, we are looking if the electrical system is working fine, is there running water? If the sewer systems are well maintained? And does the roof leak when it rains?
Making sure that the systems are in good working order ties in with the basic maintenance of your house. As a homeowner, it is advisable to ensure you perform regular upgrades depending on the age of the home.
First impressions matter a great deal in real estate. The allure of well-manicured lawn builds on the value of the property.
So, yes! It’s time to put on your gardening hat and get down to sprucing your front yard by simple interventions like adding a deck.
Have a plan and if need be consult a professional. But simple is better and also aim to create a green space – some grass will do.
Often forgotten is the back yard which many homeowners don’t invest in. You could diversify the space by creating an outdoor entertainment area for holding barbeques and children play area.
Note that landscaping is not an ephemeral exercise as you have to put effort in maintenance of the vegetation and structures to ensure they stay appealing.
Also observe that if landscaping is done incorrectly it can actually subtract value from your home – you don’t want that.
A fresh coat of paint
It’s amazing what a fresh coat of paint can do to a house. It literally breathes new life into a space.
Experts opine that a nice bright, neutral color improves the perception of the property to a majority of the market.
If you are selling your property, a majority of people will encounter your property on the internet.
Having professionally taken pictures will display the best version of your property to them and increase the chances of potential buyers actually going a step further to inquire about the property.
Before you go into diverting your funds into the property it is important to note is that not every renovation will increase the value of your home which is why market research is important to access what will work best for your situation.
Understanding what the market wants and delivering it will work favorably to increasing the value of your house. Talk to a local real estate agent and get a feel of what people are looking for in houses in your area.
Comparing what other houses in your locale offer and what prices they are fetching in the market. This will give you a good idea of the strategic modifications you can invest in to increase the value of your home.
When you are undertaking all or some of these projects, you have to ensure that you are actually getting the return on investment.
An efficient way of doing this is by keeping track of all the improvements you have made to the project. Keep receipts and mark dates of when you put up the upgrades. This will help the valuer and the agent (if you get one) to get you a good deal for the house when it’s time to sell.
The writer is Head of Sales and Marketing, Centum Real Estate
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