Raise Your Property Value: easy fixes to increase profits
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Like any homeowner, you always look for ways to raise your Property Value in NYC. When you purchase your home, it can decrease in value or increase depending on market conditions. What you do to your home will ultimately affect it. However, maybe you have not even thought about your property value until you realized your house was not selling. You might be thinking, “Now what?” But I have great news. We will be going over a few ways to boost your property value. We will discuss the easy ways to raise your property value rental property without increasing the property tax.
Remember that this does not have to mean spending much money fixing the house in your local market. The ideas I will be listing below all vary in cost. One of the ideas is even free, and I am sure everyone loves free stuff. Also, remember that even the little things count a lot and make a huge difference.
Starting point: Get a Realtor and Certified Inspector for your home.
This is pretty important, in my opinion. These two people can give you the numbers and lists to bring your desires to life. The realtor can get a dose of reality by informing you how much your home is currently worth and what other homes in your area are going for.
Also, they could hint at why your home is not selling. Then, the inspector will thoroughly review your house, see what is up to par and any upcoming changes. They will inspect for termites and other pests and check on the safety of things around your home.
Paint
This seems so simple, but I think you would be surprised at how many homes got turned down because of the color of the walls. It can seriously damage a potential buyer’s view of the home.
It could make the home feel cramped or even like there is not enough light. However, keeping it simple on your walls with neutral colors will help tremendously. It could also make the space feel larger and airy.
Landscaping
We all know that most dads out there inspect the lawn. I even catch myself doing that as well. Suppose you are like me and live in an area where gardening is a part of your life; the sign of brown grass could signal that maybe things don’t grow too well here. That alone would make me think twice about buying the home.
So adding some cherry blossoms, shrubbery, and some pretty flowers can make a huge difference. Almost everyone loves looking at a gorgeous lawn and admiring the beautiful flowers of a variety of colors. It is a pretty big deal, so get the loveliest flowers in the world and color combinations.
Declutter and Rearrange to raise your property value in NYC.
This is important, especially if your home is on the smaller side. If a potential buyer were to walk into your home right now in its normal state, it is possible that they could be overwhelmed with how small it feels. So how to fix that? It is honestly super easy.
Think minimal lifestyle and small space design. Decluttering and moving out everything that sits there, wasting space, and rearranging your furniture can have a huge effect. It can dramatically open a space up and seem so much larger than it is, which is great for those coming to look at your home.
It will appear much more significant for the amount of square footage there.
Updating your kitchen and bathroom to raise your property value in NYC
These are huge to increase Your Property Value in NYC. But honestly, you don’t even have to do massive renovations with them. These two points in the home are the places that make or break the potential sale. Some do not mind an older look, but most people nowadays want a more modern, upgraded look and feel to their bathroom and kitchen.
So with these upgrades, it just depends on what you are working with already. Your upgrade could be just new paint on the cabinets or unique fixtures. Or it could be much more significant, like new appliances, new countertops, or opening a space up. If it is a small space, fresh paint could be all you need for the bathroom.
Or maybe you redo the whole thing and throw in a new tub while at it.
As you can see, you can do so many things to raise your property value if your house isn’t selling. A lot of these are pretty simple and easy too. It can seem overwhelming initially, but I suggest having fun with it; seeing what your home looked like before and after is pretty exciting!
Georges has been working in Wall Street for the last 16 years trading derivatives with hedge funds. He has been an active real estate investor for over a decade. Georges graduated from HEC Business School in Paris and holds a master in Finance from ESADE Barcelona.
