3 Simple Ways To Invest In Your Property
Owning your own home is one of life’s right of passages. Saving up for a deposit, living like a pauper for months, keeping in the black, and finally putting down a deposit on your first home makes you feel like a fully fledged adult. Now, you want your home to work aggressively for you and become an asset that you can rely on to make you money. The easiest way to do this is to add value to your home. The buoyant property market of the noughties where you could do nothing to a house, own it for six months, and sell on for a lucrative profit is long gone. Check out these ways to invest in your property.
Go New Build
If you are still pondering what sort of pad to buy to maximize your potential profits, consider the joys of a new build. Many investors would suggest purchasing the worst house on the best street. While this is a sound strategy, if you don’t have the time to carry out a scheme of works, you will be left living in a derelict shell of a home. Instead, consider the house and land for sale from those developers that have recently completed a build. These super energy-efficient homes come with all mod-cons and are futureproof. All you need to do is ensure that you keep the home looking fresh, spacious, and showhome like to ooze appeal for the buyers and to seduce them with a lifestyle when you come to sell. A great convenient new build with low maintenance costs is sure to fly off the listings shelf when you are ready.
Extend
If you own your humble abode already, the easiest way to invest in your pad is to add space. Adding square footage and creating larger living spaces or more rooms gives your property a wider buying appeal. The more square footage you have, the more you can realize when listing. However, you need to find the right balance of investment and reward. An expensive conservatory on the back of your home may not add much value. However, spend $5000 knocking through your kitchen and dining room to make a giant open plan living space with an extension into the garden and you could recoup double this investment on your sales price. This sort of investment gives you a more modern home to live in while also increasing the value of your property.
Restore
Owning a home with period features can seem like high maintenance. However, young people are eager to purchase homes that have character. Ensure that you scour your humble abode and restore those features that are under layers of gloss paint or behind a wall. Fireplaces are often hidden behind bricked up chimney breasts. Investigate and see whether you have a gorgeous Victorian cast iron fireplace or marble surround. Replaster the cornice and restore the ceiling roses in your bedrooms. This simple and relatively cost-effective way of restoring your home can help you realize more profit when you come to sell.
Follow this simple guide and you can invest in your property to make your asset work more aggressively for you.
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