What Makes Your Property Value Increase? 7 Key Factors

Various factors determine the real (and market) value of a house, such as its position and the surrounding context, the appliances, the structural conditions, the installations, the lighting, and the safety.

Although these factors are immutable and have a more significant influence on property valuation, there are interventions that can be carried out on your property to improve the state and the internal and external spaces layout, which certainly increase its value and make it more attractive.

Considering that in America's 100 largest counties median homes are unaffordable for most generations, increasing the value of a property becomes important. In this way, it is possible to buy a cheap house, then increase its value, and pay off the mortgage.

Here are 7 key factors to consider if you are trying to increase your property value.

1. Renovation and installations renewal

A newly renovated house has a much higher value than one that needs adjustments.

Therefore, the first step is to intervene in everything that is too dated.

This primarily includes installations. In a dated home, this aspect should not be underestimated, to obtain a more functional home, with less waste and that adapts to recent regulations.

Floors also play a decisive role in the renovation, especially if they show chips, cracks, and outdated choices of materials, patterns, and colors. Fortunately, there are solutions on the market that allow you to lay new flooring, with low-cost and minimally invasive interventions, which will immediately give a more modern and refined look to the rooms.

Whenever you embark on home renovations, be sure to fully vet any contractors you hire and carefully scan their reviews, etc. The last thing you want is the expense of suing for property damage eating away at any value gains added.

2. Energy efficiency improvement

One extremely aware way to increase the value of your home is the green renovation, which allows you to carry out interventions to reduce energy costs, having an eye for the environment.

The fixtures' maintenance affects both the appearance of the house and the savings for heating and cooling the home.

In addition, the insulation of the walls with the thermal coat and the installation of solar panels on the roof allow significant energy savings.

Also, choosing new state-of-the-art appliances contributes to this aim, reducing costs and lowering the environmental impact.

Energy efficiency interventions bring benefits in terms of living well-being, and also significant cost savings: a convenient and, at the same time, sustainable solution.

3. Redesign the layout of internal spaces

To increase the value of the house, a good spatial distribution is essential.

With the support of an expert, redesigning the interior layout in an accurate way will be much easier and will help to optimize the spaces.

A fluid and homogeneous internal layout makes the house more beautiful, welcoming, and appealing. You can knock down walls to create larger, airier, and brighter spaces, or on the contrary, make spaces that are too dispersive smaller.

For example, you can get an extra room by dividing a space that is too spacious into two different rooms and get a second bathroom, a guest room, or a small home office.

4. Enhance outdoor spaces

Everyone likes to have a nice garden around the house, and a well-kept one also provides a more pleasant aspect to the house itself.

This means taking care of the lawn, keeping the plants pruned, adding flower beds and, if the size permits, creating a patio area with a gazebo, table and chairs. If you lack passion for gardening but still want to get a good job, you can rely on a professional gardener.

If you live in a residential neighborhood, even adding a swimming pool can greatly increase the value of the property. However, it is good to consider the maintenance costs, both of the structure and of the sanitation system, in addition to the cost of construction. Plus, any addition to the pool, such as diving boards or fences, increases its cost but also the subsequent value.

5. The importance of ancillary services

Many houses, especially the old ones, had an underground cellar to keep food cool and to store items. If your home has one, invest some money to renovate it, tile the floor, and create a usable living space.

There are still many people who use cellars to store food or objects they don't want to throw away. But there are also many who, seeing a well-kept space, decide to create a tavern, furnishing it to obtain a second apartment.

A garage, if present, should deserve the same attention. Having it available (especially in big cities) represents an added value in itself, but having it in good condition certainly leads to a further increase in value.

6. The safety component

To further increase the value of your home, focus on safety. Among the various possible interventions, the installation of an anti-theft device with a remote video surveillance camera is a perfect choice, connected to an alarm system.

A simpler way is to make doors and windows safer, with an armored door at the entrance. The video intercom offers a smart solution to protect yourself from unwanted visitors.

7. Integrate smart devices

Nowadays, technologies are also applied to buildings, characterizing smart homes.

These technologies include all the intelligent services that allow, through the use of the smartphone, to turn on the lights, open the doors, activate or deactivate the security and video surveillance system, start appliances or coffee machines, control the temperature, irrigate the garden, open the garage door, switch on the entertainment devices, etc.

It is not necessary to insert them all, the most popular tools are certainly those related to lighting, thermostats, safety and home entertainment.

Furthermore, although their cost is not negligible, it is a much cheaper choice than other improvements to increase the value of a property.

Final thoughts

Now is the time to put these tips into practice to give your home a new life, enrich it and make it special. In this way, it will be more competitive on the market!