Investment in property provides a decent place to live and also acquisition of an asset that will appreciate in value with passage of time thus adding to the wealth of the owners. This appreciation may not take place at the same pace for every house. Inflation is also a limiting factor among other things that plays a part in this but that relates with the concept of time value of money. Appreciation in value of the property needs some important areas to be attended to priority. They are stated herein below:
A constant increase in the beauty of the house does not let the value fall. In fact the first sight attraction results in value appreciation.Space and utility follows. Smart moves to improve the exterior and interior adds to the financial value. No doubt this involves capital expenditure but nevertheless the financial appreciation of the value of a house is more rewarding compared to the expenses. The sensitive areas that need investment in this regard are living rooms, budget kitchen renovations Perth, wash rooms, and master bedrooms.
Increase in Space
The advent of technology has removed certain obstacles. A constant follow up on making structural adjustments resulting in available space for the living is another source of increasing financial worth of the house.
Reliance on energy is cost oriented. With the passage of time cost of generation of energy has increased manifolds. Smart moves resulting in energy efficient houses can add to the financial value of the house. Suggested areas are
- Proper insulation.
- Landscaping for energy conservation.
- Use of Solar Panels.
- Windows and doors adjustment.
- Energy efficient lighting and appliances.
These changes will not only increase comfort level but will also have an impact on overall economies adding more to the value of houses.
Product development in the area of appliances is being done for energy conservation and in view of area constraints. Keeping the installation updated will supplement the moves of Beautification, increase in area besides adding to the energy efficiency.
Threats to human life in terms of security, protection from violence demands installation of modern gadgets minimizing risks.these gadgets include:
- Smart Thermostats to control the temperature and reduce use of energy adding to the economy of living.
- Smart alarm system and cameras. Increase in the cost of labour and reducing level of honesty and integrity in human life has increased reliance on gadgets. Houses equipped with smart security alarm systems assure security adding to the confidence of the residents. Security cameras are now essential to monitor the outdoor activities before any threat arises.
It is important that you view these adjustments as an investment in the future rather than as an expense. Also, it is not necessary that you make these adjustments all at once. You can bring about these changes one thing at a time and then eventually you’ll be able to achieve great value of money for your asset.