Saving an Old House: How to Add Value in an Older Model

add value to old houseIncreasing the value of real estate is something that appeals to anyone who has some. Real estate and property are some of the single greatest financial assets for many people. It may be a brand new, custom built house, or something that’s been in your family for years. Either way, your home value can be improved in a variety of ways, inside and out. While upgrades and improvements can be made to any home, older houses can provide some unique opportunities and challenges that separate them from the newer models. Let’s look at some of the most common and cost effective things you can and should look at for increasing your homes’ value.

Cosmetics

This is usually the best place to start. Paint, carpet and wallpaper are all easy improvements that can make a big difference to almost any house. Even if some of these things are temporary, they still create value. In older houses, there is plenty of opportunity for face lifting, and it doesn’t always have to be expensive.

Repairs/Maintenance

Even small things like squeaky door hinges and sticky windows can affect the way people see your home. A good, thorough cleaning can be the cheapest, most cost effective thing you can do for you home. Value can be seen in an overall perspective, and little things add up quickly.

Landscaping

Same ideas go here. A few flower beds, some new grass, and even a new tree will spruce up the place and increase the value. Your yard is the first thing looked at when your property is being evaluated.

Better Floor Space Management

Yeah, that means you may have to knock out a wall if you have to. Many older homes are built with very conservative, restrictive floor plans. Just opening up a larger doorway between two rooms can have a big impact. Of course, you need to be aware of bearing walls and electric wires, but it isn’t a real expensive operation if you’re serious about adding some serious space and dimension.

Heating/Air Conditioning

Many mid to older houses were built before air conditioning was available, and furnaces could be anything from steam powered, to coal or oil. Furnace repair in Grand Island NE can be costly and often not the best for your home value. Nebraska Heating & Air say if the conversion to modern technology hasn’t been made, it needs to be. Besides saving on operating costs and greatly improving living quality, it’s safer as well. That is a difficult value to count, but significant none the less.

Adding value to an existing property for resale or financial gain is mostly about cost versus gain. If you have no personal connection to the place, then it’s just a matter of looking at your budget and comparing which things return their value the best. If it’s your own home, those values are subject to your likes and desires. If you’re just looking to increase your investment, do all of the smaller things you can do yourself, and consult a private contractor for anything else. Keep in mind that many home improvements require a building permit, even if you are doing the work yourself.

Erin Emanuel

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