How To Increase Property Value: 20 Tips That Won’t Break The Bank

Every serious real estate investor should take the time to learn how to increase property value so that you can maximize your returns on investment when it comes to selling. Real estate investing is really the only investment vehicle that allows the owner to actively increase the value of the asset. Most of the time, a shareholder can have very little impact on the value of the stock, buying shares in the hope that they will rise.

There is so much one can do to increase property value and it is really only limited by your imagination. Here are some guidelines to help you maximize the value of your properties without breaking the bank.

1. Bright rooms give the illusion of more space. Increase the wattage of light bulbs in light fixtures to the maximum that is safe.
2. Keep all woodwork spotless. Use a refinish wood to make cabinets and trim look like new.
3. A lick of paint can turn an old, worn room into a fresh new one. Remove old wallpaper and peeling paint. The three-dimensional gold foil wallpaper must go. Paint all the rooms that need more than a little touch up.
4. Keep colors neutral to maximize your target market. Not everyone likes bright colors!
5. Clear clutter, too much furniture will visually reduce the size of the room. Too many pictures on the wall will do the same thing. Keep shelves neat and organized.
6. Update old or worn curtains with new ones. Small blinds and vertical blinds are preferable to heavy curtains.
7. Replace or rectify if practical; stoves, ovens, exhaust fans, and other appliances that are avocado, pink, blue, yellow, or brown in color. White is the preferable color.
8. Keep counters clean and clear. The more counter space you have available, the larger the kitchen will appear.
9. Replace broken, worn or outdated cabinet knobs, hinges and handles.
10. In the kitchen and bathroom, remove and replace old grout and caulk at the slightest sign of discoloration.
11. Consider replacing tile around tubs and showers if colors are outdated.
12. Trim trees and bushes that may be blocking the view of the building.
13. First impressions count. Remove dead plants, flowers, and shrubs. Plant flowers and shrubs that add color and light to your lawn and gardens.
14. Keep sidewalks, driveways, sidewalks, and gutters clear of weeds and debris.
15. Repair any cracks/corrosion present in gutters and touch up with matching paint.
16. Check and replace rotted boards and posts on decks or fences.
17. Try to make the garage (for one, two or three cars) seem suitable for so many vehicles, even if it is full of storage items and boxes.
18. Repair raised or severely cracked walkways and driveways.
19. Replace yellowed, worn, cracked, broken or missing faceplates of switches and outlets.
20. Banish smokers. In a 2004 survey, prospective homebuyers cited the smell of cigarette smoke as the biggest turnoff when visiting a property.