4 Ways to Boost the Resale Value of Your Homeadmin | June 3, 2021 | 0 | Loan
The old construction of a house can lead to difficulties in selling it. You might be unable to find a buyer, or end up compromising on the selling price. So, before putting up your property on sale, consider remodelling it. Experts say that home renovation can increase potential returns on the sale by 30% to 40%. Also, it is important to do the regular maintenance of a property to increase its average age.
If funding constraints are holding you back, consider applying for an instant personal loan online. Whether you are salaried or self-employed, personal loans are available for you based on your credit score.
With finances in place, let’s look at some ideas to renovate your property to increase its competitiveness in the market.
Start with Structural Modifications
Old properties need a lot of structural work, and the buyers might insist on them. A major issue is water seepage in such properties. Besidesreplacing old pipelines, ceiling seepage needs to be inspected. Consider waterproofing if the area has a high amount of rainfall. Other areas that might need repair include electrical wiring and restumping.
Beautify the House
Do the necessary work to make your property appealing. This doesn’t have to include expensive changes, only proper home staging.
Home staging can include various aspects:
- Thoroughly clean your house; including garages if applicable. De-clutter the house.
- Consider remodelling the living room, kitchen, and bathrooms. You can update appliances, cabinets, countertops, and flooring.
- Apply fresh paint. Opt for a neutral palette, creams or mochas, because the buyer will want to paint the house according to their preference.
- Pay attention to details. A buyer won’t like to come and see a broken mailbox or a fused light bulb.
If you think you don’t have the budget for all these activities, check out your eligibility for a personal loan using a loan EMI calculator. If you have a good credit score, you can get competitive interest rates and repayment terms.
Add More Space If You Can
Bigger homes tend to offer higher values, and the buyers always notice the space availability. You can create additional living space, such as converting an attic or finishing the basement. Check whether you can knock down some walls to help make the place look bigger. For example, you can remove the wall between the kitchen and living room, renovate the floors and add an island in the kitchen to create that open look so popular nowadays.
Invest in Your Outdoors as Well
If you have a garden outside, make sure to invest in outdoor landscaping.
- Remove dead plants
- Trim the grass and bushes
- Add potted plants
- Call an expert to help you.
There are so many ways to make a property saleable. You need to consider your target buyers. Different areas in a place attract different people. Talk to a realestate agent to know what preferences of current buyers in your type of property.
Before that, keep your finances in order. Make sure to have documents ready. For instance, when self-employed people apply for personal loans, they need to show a current account statement with a minimum of 3 transactions every month. Compare interest rates and other terms between lenders before you choose a loan.