Most property owners would be keen to explore options to increase the value of their homes and investments. There are several ways one can monetise property and in this article, we shall be discussing some of these.

Build apartments

Do you have a property with your own airspace? In most cases such properties can be converted into multiple ones, transforming a house or maisonette into a number of apartments and a penthouse. This will significantly increase the value of your property as instead of one dwelling, you would have created three or four. The number of units that can be developed depends on the area and location, with an architect being able to indicate how many storeys you can go further up. The additional units created can be either sold for a profit, or else rented out, ensuring sustainable and long-term income. It is important to keep in mind that undertaking such a project requires a solid initial investment, especially if you are taking on both the construction and finishes.

Create a garage

There are several properties which can be re-designed to accommodate a garage. Such examples may include houses whereby the ground floor or part of it, can be converted into a garage. Depending on the size of the garage you want you may decide to split the ground floor accordingly. In some cases people may opt to take a few metres just to include one car or else the entire floor to accommodate more vehicles. Houses that are equipped with a garage are perceived to provide more convenience as residents would not need to look for parking spaces before entering their homes. For a garage which is part of a home, potential owners will set higher asking prices if they intend to sell.

Set up a new room

Another way how you can increase the value of your property is by having a good close look at the plan and seeing if an extra room can be created. One example would be to create an ensuite within a house that was built quite a few years back. Another option might be to increase an additional bedroom, whereby you would be using the space allocated more efficiently.

Renovate

A renovated property is more likely to be of a higher value. Giving a home a modernised touch through an open plan for example, using modern colours and styles along the way is likely to have a better appeal for potential buyers.