How do you add value to a property ?

4 Replies

Hello,

How do I know I added value to the property? For example I bought a property 2 years ago its obviously worth more now.  How do I know if all of this is considered ? I know its worth more since I put all this brand new into it? 

-Front shade

-Backyard shade, cement under it as well(Got permit)

-Carport 

-Took all carpet out inside and put tile

-Painted all inside

-New cabintes

-Took bathroom tub out, did walk shower

-Insalled all new ceiling fans

@Frank Hernandez   Any fix up you made to the property adds value. Everything you listed adds value to the property. If you bought a property near or around Phoenix, it is definitely worth more now. If you need help calculating the resale value of your property, considering getting an appraisal.

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Putting in a pool adds value to a home, the question is does the value increase in excess of the cost of the value add!! I the case of a pool, the answer is no.

To answer specifically what the value add is in dollars for each item is impossible, however, the best place to spend money to improve value above and beyond the costs of the value add are in kitchens, baths, cosmetics (paint, carpet/tile, cabinets, electrical and plumbing fixtures) and curb appeal (landscaping).

Other value adds can be moving and adding walls for better floor plans, adding square footage, adding beds/baths, adding amenities. An experienced RE investor or real estate agent can offer specific insight to specific properties as to what would bring the most value add for the least amount of money thereby creating the most equity.

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