There are several factors that contribute to driving the real estate market and most of these are in the control of the individual home owner. However in the quest to make the right decisions when investing in a property, one should be aware of the following connective issues. Get all the info you need here at Merissa Hill Home.
The Push Up Factor
The following are some of the points that should be taken into consideration when it comes to the potential for investing in a property:
The Basics of Increasing Property Value
Demographics data should be requested and made available to the prospective client interested in making a purchase with very specific requirements.
This may be for some a rather tedious study and really not very significant to the single investor but with careful consideration it is possible to make decisions that will keep the prospective property investor from buying properties that will either depreciate in value because there is simply no market for it, or to be stuck with a property that will not yield good profits or rental possibilities.
The interest rates that effect the purchasing power of the potential buyer is also something to be considered by the seller. If the purchase market is not healthy due to high interest rates imposed at the time, then a lot of properties will not be able to fetch good prices nor will the properties be able to attract buyers.
Therefore, there is a certain amount of significance tagged to the property market buoyancy and the interest rates charged. For some property investors this can have disastrous effects, especially if they themselves are unable to have the “holding” power necessary to keep afloat and out of debt due to the interest rates situation.
The economy and government policies at the time are also another factor to consider when investing in property. All these factors have inter-connective scenarios that can result in the investor being stuck without any recourse for their investments until changes are evident.
Home Improvement & Makeover
There are several ways to enhance the value of an individual’s property without actually having to break the bank. Some measure can be taken with the help of expert advice and evaluations.
The following are some of the areas that are popularly recommended for home improvement and makeover possibilities:
Home Improvement Ideas to Increase Property Value
Adding a parking garage or parking spaces for the home unit is becoming quite an important requirement in current times. Parking facilities are usually quite costly, thus being able to offer a property with this incorporated into the design will definitely contribute to the positive value of the property in question.
This kind of add on, can also play dual roles for those who may desire to have separate living quarters, while still being able to be part of one property. Thus the existing garage space can be converted to facilitate this desire.
If the budget permits, having a kitchen make over is also another good exercise to conduct in view of trying to enhance the property value. Sprucing up the current kitchen with new and more modern feature will definitely be a positive draw to the property as most activities in a home are prevalent in the kitchen area.
If this is not feasible, simply adding color by means of a new bright code of paint or replacing old and faded curtains or blinds for newer and more pleasing patterned ones could do the trick just as well.
Creating extra space from areas that are rarely utilized or underutilized is also another option to consider when making a home improvement or makeover decision. Such exercises will provide the current home with more useable, friendly space, thus again
contributing to the increase in property value. These space enhancement projects can take on the form of utilizing unused space such as attics, basements and spare or store rooms. Such areas can be converted into extra bedrooms, family game rooms, hangout areas for teenage children and their friends and many other positive uses of space.
Garden Renovation & Landscaping
First impressions for better or for worst, are things that are unavoidable when the human perception is faced with the exercise of forming a decision. Thus, for any property that has the added advantage of coming with a garden area, it should be well designed and well kept.
The impression made on the prospective buyer can sometimes be the difference between the buyers actually wanting to venture further into the viewing exercise, or turning away decisively without wanting to even consider looking at the house on the property. Therefore, taking the trouble to initiate simple yet effective and cost efficient garden renovations and landscaping, will not go unrewarded, when it comes to enhancing the overall property value.
The following are some tips that can be used for the purpose of garden renovations and landscaping exercises:
Exterior Landscaping Ideas that Increase Property Value
Edge the beds – cut into the edges of the grassy land wherever it should not overlap, this will ideally present a more manicured and pleasant looking lawn. This doesn’t need to be an expensive or exhausting exercise, as regular trimming sessions will effectively keep the overgrown areas from becoming an untidy mess.
If time and energy permits, adding a colorful flower bed trimming to the edges will also give an overall pleasant and neat look to the garden area. This is cheaper that other more extensive decorative addictions that are usually costly.
Sprucing the garden with color is another addition that can yield the desired results when prospective buyers visit the property. This addition of color can brighten the overall garden and make it more appealing, as color additions often do.
Other important renovations can include cutting or minimizing the need to have huge overgrown foliage that is neither complimenting nor advantages to the property. Most people are put off by such huge feature, as the perception of having high maintenance issues are commonly related to these types of features.
Expand Your Property to Increase It’s Value
Property expansions do not always relate to the actual adding of extra space to the pre-existing unit. It can also mean using the property for other purposes, which does not constitute to it being a living space for a family unit as most conventional uses would entail.
The following are some things that can be explored when addressing the expansion of property, while still keeping in line with regulatory bodies requirements:.
Creative Ways You Can Expand Your Property
A property can be converted into an office space or a place of business. This can be done if the relevant authorities have designated the property and the surrounding area for commercial use. Therefore, offering the property up for these uses can enhance its value if the said property is in a prime location where the ideal traffic flow can be tapped into.
Using the property to facilitate a home business entity, is also another option that can be explored, provided the business style intended is not going to cause any inconvenience or adversity to the surrounding area. This is quite a popular form of starting a business and with the assistance provided by the governing bodies, it has become a fast growing industry.
Expanding the property revenue earning possibilities by redesigning the home into smaller self sufficient and self contained units will also contribute to the enhanced possibility of deriving more revenue. If such an establishment is well run, there will be no shortage of interest in the property. Another feature that will benefit this style of dwellings would be if the property is ideally located within reasonable distance from all amenities.
The more conventional way of expanding the property would be to actually physically add on built up sections to the pre existing built up area. Such additions should ideally be around designs like a
conservatory, a outdoor barbecue area and lounge, a swimming pool, a green house and any other features that would be deemed attractive and functional to the prospective buyer or investor.
Perfect Timing To Sell Your Property
There are several factors that contribute to the ideal time to put a piece of property on the market. Not all the reasons are beneficial to the seller, but taking into account the market sentiment of the time will help to ensure better possibilities of a successful sale.
The following are some of the factors that contribute to the perfect time to put a piece of property on the market:
How to Time Your Property to Sale for Maximum Sale Value
For most people in the house hunting mode, the time of the year is very important for making the necessary arrangements to move. The most dominant factor in most cases would be the change of location which would also mean the change of schools for the children.
This is one of the reasons why most people choose to start house hunting at least 6 months before the school year officially ends.
Having the additional pressure of dealing with unhappy school going children can be quite upsetting as most children do not adjust well when they are up rooted in the middle of a school year.
Another popular time of the year that is considered perfect timing to sell any property is during the spring and summer months. This is generally due to the fact that, house hunting during these months of relatively pleasant weather can be a more enjoyable experience, rather than having to do so in the unwelcoming weather conditions of winter.
Having the potential buyer view the property when it can be seen in an airy, sunny and fresh day is definitely a plus compared to dreary winter viewing.
Besides being able to view a property in the best weather circumstances, there is also the issue of the actual move to contend with. Moving into a new home in the spring and summer months presents a much lesser challenge than having to do so in the winter months. From a cost effective angle, moving in winter can be rather
expensive, as some of the items may require regulatory heating measures.
How Deed Restriction Can Increase Property Prices
Most properties are sold based off of several different selling points that the buyer found attractive, thus making the commitment to purchase. Some of these may include the first impression the property made on the said buyer.
The following are some of the reasons why having deed restrictions can either maintain the property price or help it increase even further
More Tips on Increasing Property Value
When viewing a property, the first impression of the viewing point would be the actual outside of the unit, after which the surrounding areas will be viewed with equally careful scrutiny.
There is a niche market where most people consider properties with areas where the designs come with some form of uniformity, as this present its own unique attraction.
Therefore with deed restrictions in place such uniformity is guaranteed. This will then contribute to the property value, as others with the same desires will seek out such areas where these properties are located.
By buying properties in these type of deed restriction areas, the new house owner will be assured that the neighbor generally stays the same throughout the time of ownership. This is not only limited to the outward look of the area but can also be an effecting point to the types of occupants that are allowed into the said area.
Therefore, it is very unlikely that the home owner will one day have to be confronted with the fact that his or her neighbor or someone on the street is changing the original designated use of the house to something else which is contradictory to the deed restriction laws.
These deed restriction properties are not just for home owners but can also apply to business districts as well.
Even in this type of commercially run area there can be deed restriction to govern the area so that it stays in its prime condition. With this type of careful monitoring and restrictions in place, property values will be well maintained as anyone valuing such services and styles will be more than willing to pay the price.
Hope this was helpful for you in some way. Please reach out to me if you need assistance with anything, I’d be more than happy to help!