If you plan to invest in an income generating property, upgrading the interior design of your home gives a significant impact on its value. One way or another, this attracts potential home buyers or renters to invest in your property. One way or another, upgrading the interior design of your home gives a significant impact on its value. This is one way to attract potential home buyers or renters to invest in your property. It does not matter if you plan to invest in an Alveo Condominium Makati or any other real estate property in the Philippines, remodeling your home is a great deal.
When it comes to remodeling your home, there are certain things you need to consider before you start the project. This will ensure that you'll have a reasonable return of investment of the property. And if you are skeptical enough when it comes to home renovations, then try these ways below.
- Build second-story home addition
There will always be an advantage when you have a two-story home. This usually attracts growing families who want to have a bigger space at home. For extended families, the bigger space, the better. This is to ensure that they will not have any problems with the traffic flow at home. Moreover, your home will stand a greater chance of infusing a long-term property value.
- Replace siding with fiber-cement siding
Fiber-cement siding is not just your ordinary siding. This design can attract buyers who are willing to pay more for it. Siding is a plus factor that does not involve too much spending – but does not mean it is inexpensive. When it comes to the sidings, this will help resist rot and holds color exceptionally well. That means home buyers would invest in a property that does not need any high maintenance.
- Finish your basement
Whether you realize it or not, basement attracts home buyers. However, basements are expected to be dark, gloomy, and cold. Remodeling or refinishing your basement is a bonus to increase the value of your home.
Often, basement finishing is cheaper than building an addition, since you are not expanding the property's envelope. Moreover, adding a space on your home requires professional contractors to do the job to ensure a desirable outcome. Remodel your basement where your potential home buyer would pay more for it.
- Minor kitchen remodel
When it comes to house hunting, one thing most home buyers would consider is the kitchen. They make sure that they will not have any problems using the kitchen at all. However, you have to know that there is a difference between "major" and "minor" kitchen remodels.
That means you do not just remodel your kitchen without even thinking if it is worth it or not. Moreover, investing in a moderately priced-scale kitchen remodel will return short-term value to you – as a cook, and long-term value to you shortly.
- Add a family room
Adding a family room is also one way to increase the value of your home. For most homeowners, this has consistently returned solid value to them up to 64%. A family room can be expensive, but it would bring a significant impact to your potential home buyer. You have to make sure that family room can be of use to them. While electrical and HVAC are present, there is no tile work, plumbing, or expensive fixtures – all which are found in bathrooms. Moreover, a family room should be a great room for families who wants to unwind and enjoy their spare time.
There's nothing more satisfying than seeing your investments growing. Regardless of the season, there is no reason for you not to have a desirable return of investment. Just make sure that before anything else, you have to think twice and consider the things that are best for your short-term or long-term investments.