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Many home improvement projects do not add value to a home, especially in a down market. In fact, some improvements can even detract from the asking price when one decides to sell. On the other hand, some projects can add significant value to a property and improve its occupants’ quality of life.
By working on remodeling your property now, you can enjoy its benefits later. If you make green upgrades, you can recoup your investment once you complete the project.
Some home improvement projects that can enhance a home’s value include:
Remodeling the kitchen – Most people consider the kitchen to be the heart of the home, and because of this, updates in this room, like painting the cupboards in bright hues or changing the fixtures, pay off.
A little paint goes a long way – Fresh paint in modern colors can go a long way towards updating the look of any room, be it the living or dining area, the bedroom or the house’s exteriors. Plus, paint is relatively cheap.
Energy-efficient appliances – Replace old appliances with energy-efficient models. Energy star-rated appliances are better for the environment, and they also help you save money because they use less energy. Potential buyers often look for ways to save money when shopping for a new home. This would be a great draw.
Maid’s room addition – This is a prerequisite in the UAE especially for families in which both parents work, and one of the major factors that buyers check when looking for a new home. You can recoup a large chunk of your investment by adding one.
Landscaping addition – Adding a patio increases a buyer’s interest in your home. Outdoor living spaces have become more desirable since more people stay at home for vacation. If you make your patio and backyard more interesting, your house will become more attractive to prospective buyers as well.
Home improvement project options are limitless. If you plan to remodel, concentrate on small projects that make your home more appealing to budget-minded buyers. Focus on energy efficiency and small upgrades that add character and comfort to your home.
• Add interest to your property by adding a patio or sprucing up your garden
• A maid’s room is a great addition that can enhance the appeal of your home
• Homes with energy-efficient appliances will attract budget-minded buyers
Source: Pooja Mihir Shah, Special to Properties
The writer is Director, Green House Real Estate