DFowler
Investing in property is becoming increasingly common as more and more people look for stable ways to earn extra income. For those who can’t commit to long-term real estate investment, flipping houses is often the go-to strategy.
The key to making a quick buck on real estate properties lies in identifying cost-effective upgrades that have the biggest impact for the lowest price. From insulation to space optimisation, here are a few of the quickest and simplest ways you can add value to an investment property.
Add a Downstairs Toilet
If you are dealing with a home that has excess space downstairs, adding a downstairs toilet can be one of the best ways to add value to a property. A downstairs toilet makes a home far more appealing to families and the elderly.
Space under the stairs can often be easily transformed into a downstairs toilet; the same applies to large closets and small utility rooms. Focus on modern, affordable fittings to make the most of your downstairs toilet.
Upgrade Insulation
A properly insulated home improves energy efficiency and subsequently reduces the amount homeowners need to spend on bills. As a result, homes with better insulation are more attractive to buyers and can therefore command a bigger fee.
If you’re looking to add quick value to a property, identifying poorly insulated rooms can lead you to a quick fix and an even quicker way to add to the property’s asking price. Consider spaces like lofts and conservatories that are known for being difficult to insulate.
If you do invest in a property with a conservatory, a tiled roof for conservatories can be a stylish way to upgrade conservatory insulation. Simpler solutions such as conservatory insulation panels or insulation foil won’t be as impactful when trying to add value to a property.
Loft Conversion
As mentioned above, upgrading insulation in a loft can have a great impact on the value of a property. But turning a loft into a fully functioning living space will have an even bigger effect. Common uses for lofts include using the space as an extra bedroom, a home office or a recreational space such as a games room or playroom.
This offers one of the biggest returns on investment as efforts will add a whole new room to the property as opposed to upgrading existing rooms. This may open your property up to larger families which allows it to command a higher valuation on the property market.
Upgrade the Exterior
When trying to add value to real estate, it can be easy to jump to ways to improve a home’s interior. However, it’s also important to consider the exterior of a home; this will be the first part of a home that people notice.
It can be as simple as repainting the exterior of a house, cleaning the front door or purchasing new fences. Small changes like this can drastically change interested buyers’ first impression of a property when seeing it for the first time.
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