Searching for ways to modernize outdated aspects of your property? You’re in luck—we’re discussing the top ways that you can update your space.
Now that we are living in a post COVID-19 lockdown world, one of the most consistently positive trends has been in the real estate market. Right now, properties of all types are in high demand and people are getting more money for their property than ever before. Because there is such high demand, property owners are looking for ways to maximize the value before listing.
On the other hand, there are some property owners that are looking for ways to improve their space without the intent of listing their property. That’s great too! Now that our lives & working habits have changed due to the pandemic, many are searching for ways to upgrade their spaces to make their lives easier.
No matter which group you fall into—getting ready to sell or searching for improvement inspiration—we highly recommend you keep reading to find out the best ways that you can modernize your property to increase value and simplify your life. We’re going to be talking about ways to improve commercial properties first before diving into residential upgrades. Ready to get some renovation inspiration? Let’s go!
Updating Commercial Properties Like Office Buildings, Barns, and Retail Spaces
Commercial properties will generally require property wide upgrades like lighting or a building automation system
If you own a commercial property, it can be easy to assume that if everything is running smoothly there is no need for upgrades. In many cases, this is untrue. Not only is commercial control technology improving quickly and leaving many systems out of date, important aspects of operation like lighting are also in need of upgrades. In the section below, we’ll show you how upgrading building automation systems, lighting fixtures, and making your property more energy efficient will improve operations and increase your property value.
Building Automation Systems
One of the first things commercial property owners should look to upgrade is their building automation. Building automation is important for any commercial space to run efficiently. It is important to make sure that all of your operating systems are being controlled and monitored automatically—as opposed to manually. Let’s take a barn for example. A barn requires several operating systems to function properly—this includes lighting, security, and temperature control. By implementing a form of building automation, the automated systems are controlled & monitored remotely. So, if there are lights being left on overnight or doors left unlocked, property owners or managers can be notified and make adjustments right from a smart device. This not only prevents middle-of-the-night emergencies, it is also something that property buyers are looking for specifically in commercial spaces.
Upgrade Lighting Fixtures
Another improvement that is recommended for commercial property owners is an upgrade in lighting. Lighting affects our daily lives more than we notice, which means that too many property owners and tenants have been putting up with less-than-ideal lighting for far too long. If your property is currently using incandescent or fluorescent, it is time for an upgrade. LED lights offer higher quality lighting, use far less energy than its predecessors, and offer greater automation capabilities. Not to mention, it is far less expensive to install LED lights than it is to install fluorescent lights. LED lights are able to provide superior lighting at a far lower voltage. Since the voltage is lowered, the wiring is far easier and less expensive to install. LED’s also have a much greater capacity for automation since they are able to receive complex commands. Where fluorescent lights could really only be commanded to turn on and off and dim, LED lights are able to make adjustments to color and tone as well. This means that LEDs can be changed to any color or any hue with just a few commands on a smart device. This type of lighting versatility is perfect for spaces that host events like weddings.
Monitor & Improve Energy Efficiency
Another incredibly important thing that needs to be considered when updating a commercial space is energy efficiency. Not only are potential buyers far more aware of the environmental impact of their energy consumption, they are looking to save money on energy costs as well. One of the ways to improve energy efficiency is the point we just discussed—replacing all lighting with LEDs. Additionally, property owners can install efficiency monitors in their water, electricity, HVAC systems and more to identify any areas of excess use. This is also a good opportunity to upgrade any doors and windows on the property that may be out of date. Old doors and windows let outside air seep into your property, which drives up heating and cooling costs over time. Since HVAC tends to take up the majority of the power bill—especially in extreme climates—replacing your doors and windows can make a huge difference when it comes to power consumption.
Updating Residential Properties Like Homes & Apartments
Residential homes benefit from upgrades that makes homes seem larger and more multifunctional
Now that you know a little bit about which upgrades make commercial properties more appealing on the market, let’s take a closer look at residential homes. Making upgrades to a residential property is far more personal and variable than working with commercial properties. Beyond the bottom line, there are upgrades that can change the whole feel of a home. Let’s take a look at a few upgrades that can completely change your home.
Add Extra Storage
One of the most important aspects of any home is storage. Buyers know that without proper storage, homes quickly become cluttered. So, if you are trying to list your home with insufficient storage, many prospective buyers will pass in favor of a home that can hold all of their belongings. Added storage can be anything from adding kitchen cabinets to adding a shed in the yard. Different types of storage will appeal to different types of home buyers. For example, some buyers may want plenty of outdoor storage for things like 4-wheelers or kayaks while others will prefer a finished basement with lots of shelves and closets.
Depending on your home and the available space you have, you should consider adding storage to at least one part of your home. This could be something as simple as a closet makeover to add more storage options. If you’re not sure where to start, we recommend adding storage to these spaces:
- Kitchen cabinets/drawers
- Master bedroom closet
- Shed/Garage space
- Basement/Auxiliary space
- Extra bedroom conversion
Trust us, the more storage space you have in your home, the more appeal it will have to prospective buyers.
Redesign Guest Rooms into Home Offices
One of the major developments in our lives since the COVID-19 pandemic is working from home. Even as we ease back into normal life, many companies and individuals have continued to work from home. Because of this, the popularity of dedicated home offices is higher than ever. While working from the kitchen or the living room worked in a pinch for the first year or so, many people are now searching for homes that include a home office. So, if you currently have an extra bedroom in your home, you can begin adding office-like upgrades to entice potential buyers.
These spaces should be chosen and redesigned based on the requirements of the WFH lifestyle. For example, it is best to choose a room away from the other rooms in your home to become the home office for maximum privacy. Your home office should prioritize natural light for greater productivity. Remember to make sure that the office is near to a bathroom so that there is no need to run across the house several times per day.
You can also add additional fixtures in the home office space to attract buyers. For example, you can convert a traditional closet into a space better suited for file storage. These small adjustments are a perfect way to show potential buyers that they’ll be right at home in their new home office.
Add Details to Your Existing Space
Over the last decade or so, minimalism has been the overarching architecture and design principle that guided residential property development. However, the tides are beginning to change. While minimalism is fine in certain scenarios, increasingly minimalism has become the default mode for interior design. Now, in order to stand out we recommend you add some extra details to your home. These details can be placed anywhere in the home to add visual interest. Here are a few suggestions that can help your home stand out from others that are on the market.
- Detailed accent tiles in bathroom or kitchen
- Arched windows & doors
- Detailed trim on ceiling
- Ornate light fixtures
- Vintage-looking faucets and sinks
- Vintage-looking ceiling fans
Though you do not have to implement all of these at once, it is a good idea to introduce a few aspects of added detail if your home is mostly minimalist.
We hope you found some inspiration in our tips for increasing the value of your property—or just making a few upgrades. No matter what your property looks like or the plans you have for the future, there is never a better time to make some updates. You never know, you could end up selling your property for more than you expected!