Finding a new home in leading cities where you can live may not be that difficult but being a pro, you must search a place where you can add value and one that have potential too – after all, home are major investment for us. How will you do this? Read on the following post and see how can you spot a property with potential?
Homes that can be extended
Extending property is a great way to add more value to your home, so one must keep an eye on a home that can be extended or built out. You must have seen homes with spacious lawn or gardens, this can be a great place to extend your kitchen in order to create a bigger and contemporary kitchen.
Also look for properties with a nearby house that can be joined together by an adjoining extension. Don’t forget to look around homes that have space where you can convert its garage, loft or basement as per your requirement
Homes near bus/railway stations
Homes that are in close proximity to the tube stations register stronger price growth than the rest of the city. A large number of people seem to be interested to invest in these properties that are located within a 10-minute walk from the nearest underground tube station. Most of the property owners rent out such properties to the students and other people who can offer better and more rent. Moreover, the tube stations offer some of the best house price growth, because there has been infrastructure investment and regeneration projects, which has positive impact on house prices.
Homes with adjacent plots
Don’t be too quick to reject a home just because it is too small as you can check the properties around and see if there is an adjacent vacant plot available or a small home nearby. It can be possible that you may become able to purchase the adjacent land or home. If you will be able to do so, it will dramatically increase the value of your home. Moreover, small covered area on a bigger plot already has a lot of opportunities for investment.
Homes that require new bathrooms and kitchen
Yes, you have read it right that you should not reject a home just because it has old infrastructure or its bathroom and kitchen need remodelling. Most of these homes where there are ripped out bathrooms and kitchen are generally available at relatively lower prices. Upgrading the home with a contemporary kitchen or a brand new bathroom with a lot of storage space and flashy taps can definitely add more value to your home.
Similarly, homes where you can add value by restoring or enhancing the old features of your home are real asset. Spend time looking for homes which have potential for improvement due to old features such as wooden floors, old fireplaces, broken doors or wooden beams and logs, as they can become profitable for you.