6 ways to add value to your property

In the current market, it’s all about the longevity of your home. You may be living in it at the moment, but you could never entirely eliminate the possibility of putting it in the resale market. Using the right renovation techniques to renovate or remodel could make sure that the selling price will turn in your favor. If you’re planning to renovate or remodel your home, you may be wondering what will add value to your home.

Adding value to your property is not any easy task, so here are 6 ways to add value to your property.


1. Doors and Windows

Small details such as doors and windows can make a major difference in how stylish your home looks. You can also replace old doors or windows in a bid to make your home more energy efficient. This could lead to more affordable running costs and a more attractive and environmentally conscious home. Replace window grilles if they are looking old and outdated. Make sure that all doors and windows function correctly. If they don’t, repair or replace them.


2. Wall Repair and Painting

Have you ever entered a home and felt neutral about it? This is not such a bad thing, especially if you are intending to give your property longer legs and a higher value. The first thing that a potential buyer will see is the exterior of your home, so it’s worth making sure that your home looks its best outside not just inside. There’s nothing like a fresh coat of paint to make your home look fresh, modern, and more universally appealing.

Following a neutral colour palette is one of the first major steps to take. Colours such as white, grey, black or biege appeal to a wider clientele and immediately increase the salability of your home. However, you may wish to shy away from overly bold shades such as lime green, or you’ll make your house stand out for all the wrong reasons. In addition to giving your home a paint job, you should also examine the exterior for visible signs of damage. Brick homes may need to have small gaps filled in with fresh mortar, and rendered walls can do with fresh concrete to fill in gaps. These small improvements will make a property look like new without the need for major renovation.


3. Lighting and Fixtures

Small items such as light fixtures, door knobs, and wall switches are often overlooked. Replacing these fixtures with similarly styled products can lend your home a remarkably cohesive look that is more dramatic. No buyer want to live in a dark space. The cost of lighting fixtures can range from budget to expensive, so if you have old-fashioned hanging lights with paper lampshades, it’s probably time for an upgrade. Down-lights look good in most environment, and lighting can be used to play up other pieces of decor in the home. Energy efficient lighting can also boost a home’s appeal.


4. Kitchen Upgrade

A kitchen renovation should be at the top of your list, since it is one of the most important communal areas of any home. It’s a common mistake for sellers to overdo kitchen upgrades with fancy granite or marble worktops and all-new stainless steel appliances. This type of upgrade needs to be carefully worked out as you could spend more than it’s worth, but saying this does not mean you should not do it. Just be careful! Most buyers want a functional workspace that includes adequate water taps, cupboards, and worktops. Details can also make a difference, such as putting shiny knobs on cabinets and purchasing a sparkling new sink.

What if you are going for a bigger kitchen upgrade? Knocking down a full or half wall will open the space and connect the kitchen to a dinning room or living room. You don’t always need to renovate the entire kitchen, a simple remodel may do the trick. In any case, be sure that all appliances are in working condition and that the kitchen looks tidy and attractive.


5. Bathroom Upgrade

As with kitchen upgrades, it’s possible to go crazy renovating a bathroom space with all-new showers, toilets, and vanity units. This may not be necessary to add value to your home, provided that your bathroom is in proper working order and fresh in appearance. A toilet that looks old, cracked or dirty (or doesn’t flush properly) is an eye sore and the same would apply to the shower and vanity unit. Small repairs like painting the walls, removing rotted wood, and replacing tile grout can work wonders. It’s also worthwhile in some cases to replace old light fixtures with more user-friendly or energy efficient models.

For a larger project replace the wall and floor tiles, or simply replace the toilet, shower or vanity to add value. Proper lighting can also be a great value booster, such as adding a larger window so natural light can illuminate the space.


6. Flooring

One of the first things that buyers look at as soon as they enter a home is the flooring. People expect floors to be contemporary, clean, and stylish. Old, musty carpeting will definitely not do your home any favours. Installing hardwood/laminate floors is a popular type of flooring and is easy to care for. Installing good quality tiles is also a good option. In Singapore, high quality carpets are not normally a favourite, but can also be quite attractive and create a warm atmosphere. Be sure to fix any flaws in your flooring and be prepared to replace the flooring if they are ancient.

This list may seem overwhelming, but if you attack one task at a time and enlist the help of a professional, you can move ever closer to adding value. By the end of your efforts, you can feel confident that you’ve done everything in your power to boost your home’s value and attract buyers.


Catch Andrew at the coming Smart Landlords vs Smart Tenants Education Seminar to learn more about how to maximize a property’s value with smart renovations.