There’s more to owning an investment property than meets the eye. Whether you’re the typical home owner or a businessman-investor who trades these assets, value is something that you take seriously.
Now, we all know that maintaining an asset’s functionality and value already takes its toll so how much more if we talk about increasing its worth. Is it doable? Of course, and here is how you do it.
- Tend to property repairs immediately. Not only does this help preserve the functionality and value of the asset, it also helps owners avoid spending more later on. An issue resolved now becomes less of a financial burden than if it were to be tended at a later date. The premise is simple. A small defect can easily be fixed now than if it were to aggravate further.
- Cleaning goes along way. Like the saying goes, cleanliness is next to godliness. A well kept and neat property will become more appealing and with demand we know comes a boost in value. Besides, if you think about it a dilapidated or unmaintained looking property will never look sellable.
- It’s all about space and light. The bigger the room and the better lit it is, the more it tends to appreciate. But why is that so? Again, the reason is simple. People want to maximize space. Area can only be limited to what’s given but with the use of wise architecture and interior planning, it can be further maximized. Moreover, adequate amount of natural light and windows help brighten up and make spaces appear larger than they are. So do away with unnecessary divisions, opt for higher ceilings and bigger windows.
- Increase the curb and garden appea The exterior or the façade may not be everything but they play a huge part when it comes to real estate. When buyers look at assets, the first thing they notice is its exterior, meaning the curb, front lawn, garden and entryway. Make sure to pay attention to these as much as you do interior-wise.
- Renovate the right places. Not all investment property upgrades and improvements mean value. Some are simply costs and cannot be capitalized. To avoid wasting your resources, target projects that increase net worth for example, bathroom and kitchen renovations. But just to be sure, call in an expert for sound advice. After all, assets can vary from one to the other and markets can differ.
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