Everyone knows that property prices fluctuate.
One day they’re rocketing upwards and people rush to sell their homes, but before they know it the market’s turned, and house prices are plummeting further downwards than they have before.
In short, the property market is a very fickle beast, and you can’t rely on it being on your side when it comes to selling. However, there are a few ways you can increase your home’s value now to move seamlessly up the property ladder when the right time comes.
Convert your loft space.
Be aware that this only works if you have easy access, such as a new pull down ladder or set of stairs and that it’ll suit your property as the last thing you want is something that looks like it’s been thoughtlessly added on.
Loft conversions tend to be somewhat discreet as most of the work can, in fact, be done from outside the property, but the floor joists will have to be strengthened which means raising the floor. so watch the ceiling level.
You may think a loft conversion is a relatively expensive home improvement, but if you spent say $20,000 on creating an extra living space the property’s value could rocket by $40,000 as well as being the perfect self-contained area for teenagers, or older adults.
Build a conservatory or enclosed porch.
What could be nicer than enjoying your garden all safe and snug come winter?
Not only do you extend your living space but conservatories are also great places to dry laundry, keep tropical plants or listen to music away from the rest of the house.
Make sure the proposed design is in keeping with the rest of the property as it’ll look forced if the styles don’t match.
You can give the illusion of coherence by using the same carpeting, or flooring that you’ve used in the downstairs area, which will make the conservatory look like it belongs and wasn’t just tacked on.
Conservatories cost between $5,000 and $40,000 but can add an extra seven percent to the asking price while full extensions will add around eleven percent. If you don’t quite want to go the whole way you could build a small, enclosed porch at the side of the house, making sure that the porch railing is in keeping with the rest of the property’s ironwork.
Add a drive for premium parking.
In urban areas, parking spaces are extremely sought after, so if you can bear the idea of paving over the garden it’ll be worth the wrench.
Where parking is at a premium, you’ll be easily converted to hanging baskets, indoor plants, or climbing flowers when you realise that if you spend around $10,000, plus planning permission costs, your house price will jump to $50,000 higher simply by adding a concrete parking space.
In fact, the more room you have, the more cars you can fit on the drive as well as renting out any spare spaces to eager commuters which’ll give you extra profit.