When you want to enhance your real estate property’s value, some actions must be put in place in order to show your property in its best light. These actions are a way for the owner that you are to maintain an honorable price for an eventual sale or lease. Here is a brief overview of the things to do to give value to your property.
1.Maintenance
The condition of the property is decisive in its valuation. Therefore, you should not let it deteriorate due to lack of maintenance. Make a regular checkup of the condition of your property, its various rooms, plumbing, paint, air conditioning, electricity and make sure to keep them functional and in good condition.
2.Renovation
Houses built a few years ago do not have the same residential comfort as modern houses. Real estate trends and tastes are also changing. To stay in tune with the times, we advise you to give your home a boost with a few renovations. Depending on your budget, you can undertake small renovations such as a change of paint, replacement of windows or flooring, or slightly more ambitious renovations such as a room expansion, renovation of sanitary facilities, etc.
3.Provisions (Savings) for works
Maintenance or renovation work requires that you have the necessary funds to complete them. Therefore, you have to put money aside so that you can take the the leap when the time comes. This will give you a lot of room of maneuver in terms of the scope of the work you want to do, and your property will only become more valuable.
4.Use your annual visitation rights when the property is rented
As an owner, you can include a clause in the lease agreement that allows you to have a right of access to your property to ensure its proper maintenance. And the very existence of this clause in the lease may encourage your tenant to respect his commitments and take care of the accommodation.
You will then have to agree with your tenant on the date and time of the visit that suits you both. It is preferable to obtain written consent to have tangible proof of authorization.
5.Do not wait for a problem to worsen and intervene as soon as possible when it occurs
If there is a problem with your home, you should do everything possible to resolve the problem as quickly as possible rather than risk the situation getting out of control. This is one of the reasons why it is important to save money for the maintenance and management of your property.
We have gone over our little tricks to allow you to give value to your property. The most interesting thing about all this is that MAM Conseil offers you the management of your real estate assets. You delegate the administration of your property and we send you detailed quarterly reports on the management we carry out!