Investment in a house or other commercial property never goes to waste. Property value increases with time, and a quick renovation right before selling it can recover tenfold than your initial expenditure. Besides, since summer is a hot selling season, you can finalize a favorable deal. Unfortunately, cities like Pittsburgh are witnessing a drop in house prices. As of May 2023, Pittsburgh saw a decline in house prices by 3.1% compared to the previous year. If you’re a Pittsburgh resident planning to sell your property, a few upgrades can help boost its value.
You don’t need to invest a fortune in extensive repair and construction. Simple tweaks can do most of the work and raise your property value overnight. But do market research first. Property dealings and investments may be risky during unstable and unpredictable economic situations. But one thing is for sure. Inflation increases property prices unless the market has oversupply or higher mortgage rates affect consumer investment and buying.
Given this reason, ask some real estate experts about customer affordability, buying behavior, and expectations. Once you know what sells, evaluate your investment capacity. Even if you don’t have selling in mind, renovations are necessary for maintenance and stability and continue to raise your property value over time.
Following are some cost-effective renovation, remodeling, repair, and maintenance tips.
Repair or replace damaged openings
Windows or doors are essential features of a house. Buyers can overlook worn-out paint or no furniture, but no one will pay for damaged windows and doors. Living in a house with broken windows and detached doors is also risky. Environmental pollution, seasonal storms, rain, and other natural events can threaten your family’s safety and well-being. And, if you’re a resident of Pittsburgh, you’ll know how harsh the weather can get. Extremely cold, snowy winters and frequent thunderstorms categorize Pittsburgh’s climate as harsh. That’s why the majority of home buyers invest in houses with well-built windows and doors.
Damaged windows, doors, and other fenestrations also pose a risk of house intrusion and robbery. So, repair or replace damaged openings. The replacement may sound expensive, but you can minimize expenditure with some market research on different carpenters and renovators. For instance, Legacy Remodeling is one of the most reliable and affordable Pittsburgh window replacement service providers.
With almost 40 years of experience serving Pittsburgh residents, they should be your first call for a window replacement job.
Paint a new coat
If you offer your house for sale without repainting it, you have less bargaining margin. Paint is like the clothing of a home. If the paint coating is worn out, your house displays a more antique look than its actual life.
On the other hand, fresh paint covers flaws, presents a neat look, and saves money from extensive repair and maintenance. It adds an aesthetic appeal to your home, making it appear new. Fresh coating and other superficial decorations do not cost much but raise property value and can influence buyers’ decisions.
Repair and strengthen foundations
Repair, maintenance, and renovations of walls and ceilings are manageable tasks. But weak foundations can affect the structural integrity and incur costly renovation when a natural disaster hits your neighborhood. Living in such a house is a risky gamble. And buyers also weigh solid foundations more than fancy exterior and interior decor.
So, inspect your house’s foundations thoroughly. Seek the services of an architect, plumber, and other construction experts to inspect apparent and invisible damages, such as broken tiles, flooring cracks, or damaged drainage linings.
And be cautious of trying to repair yourself. Even if you can locate and fix damages, do-it-yourself experiments can cause more damage to your house. So, avoid hurried risks and ask an infrastructure expert.
If your property is a house and you want to sell it, do not ignore the importance of furniture. Furniture is a mere portion of the total house cost but can raise the value manifold when you find the right customer.
A fully-furnished house stands out to property dealers and potential buyers. Many prefer to bypass the hassle of interior decor and furniture purchase, as they want to settle in as soon as possible. A fully-furnished house is a sigh of relief for such customers. So, inspect whether your home contains all the necessary furniture. You can ignore aesthetic decor and showpieces. But cupboards, drawers, chairs, sofas, tables, beds, and lamps are essentials.
Furnish and tidy up the kitchen
The kitchen is the most functional space in a house. Lack of facilities, infrastructure, appliances, and electronics affects everyone in the house. So, ensure your kitchen meets the needs of everyone. For instance, a cooking stove, microwave oven, toaster, air fryer, exhaust fan, water filter, dispenser, ceiling fan, and lightning are essentials of a modern kitchen. This tip is for those selling fully-furnished properties.
Likewise, attend to broken, non-functional, or missing worktops, faucets, windows, kitchen racks, cupboards, or other repair work. Make sure the paint on the walls and ceilings is up to date. A shabby kitchen will also paint a wrong impression on buyers when you sell your home.
Invest in sustainable energy
Given the alarming impact of global warming, everyone is endeavoring for a sustainable lifestyle. People are more aware of the anthropogenic factors behind climate change. Hence, they explore environment-friendly ways to minimize their carbon footprint. Making residential spaces more environment-friendly is also among the priorities.
So, a sustainable energy source in a house is a must-have architectural feature for eco-conscious and responsible individuals. Properties that offer fresh air exchange and rely on natural light outweigh other traditional homes for buyers.
And while lighting up your home with solar light, you can minimize reliance on commercial energy supply and reduce energy consumption costs. Solar light infrastructure may incur higher expenses during installation, but long-term costs are less than commercial energy supply.
Beautify outdoor space
The outdoor space is like the first impression that captivates whoever enters your abode. A messy and unfinished look of the outdoors can deter many buyers before they can inspect interior decor, aesthetics, and other details. So, make your house’s first impression stand out—research ideas on beautifying your outdoor space with little expenditure.
You can try many do-it-yourself projects without exaggerating your affordability. For instance, a blooming garden is the most aesthetic outdoor idea for city dwellers. Most city dwellers crave visiting the countryside to experience greenery and flowers. What else would you want when you have a flourishing garden in your home?
Renovations and repairs require hefty investments. But raising a property value is not about extensive and expensive renovation alone. Some low-budget superficial changes can do wonders. But if you do not plan to sell, go for lasting repairs and modifications. Extensive repairs can be draining, physically and financially, but they’re necessary to ensure durability.