Saturday, October 28, 2017

How to Renovate and Cash in on Your Property

Image Credit: Pixabay

Your property is probably your most valuable asset and it is also a great opportunity to add value to your portfolio. Rather than buying a property that is perfect from the get-go, there is a fair bit of cash to be made by renovating and selling an older property.

There are a few simple rules that will help you to add value to your home, whatever condition it is in. People looking for finished homes will pay extra for spaces they can put their own personal stamp on without too much difficulty.

Neutralize

You might love having bright colours everywhere but to someone looking around a house, this will be too much of your wonderful personality on show. Use neutral cream and white paints on all your walls. This is a quick and cheap way to add value to your home as well. You should also consider putting some of your furniture and most of your possessions into storage to radically declutter the space. People like to see empty rooms to imagine their own furniture filling the space, however tasteful yours is!

Invest in your Outside Space

Having a beautiful outside space adds real value to any property and doesn’t have to be very expensive. If you have a lawn then make sure it is green and fresh for great curb appeal. You might also consider putting a table and chairs outside to give the impression that it is an extra room. If you can afford to add basic landscaping features then do so with the advice of your real estate agent to optimise your expenses.

Use Excellent Real Estate Agents

When it comes to selling properties a real estate agency like The Lauren Sells Team is going to give you a huge advantage in the marketplace. Estate agents pride themselves on matching the right home to the right clients, so it may well be that they already have someone looking for a property just like yours! An estate agent will also be able to offer advice and guide you through the selling process to get you the best price.

Making money in property is a simple pursuit in theory, but in practice, you will need the help and guidance of property experts to help you make the right investment choices. They will also be able to take the time to sell your property and run open houses for you.

Without great expense or effort, you can easily make home improvements that will boost your asking price and give you a greater profit. You could use this profit to move to a finished home and settle down, but you might also consider building up a property portfolio and investing in multiple smaller properties to renovate and sell. Another consideration you might want to keep in mind, is renting out a property rather than selling up. This will give you a regular extra income without losing the asset you have worked for.

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