How does a real estate investor determine what the basic and common requirements to appraise commercial property and see that the value of their real estate rise? The answer is both simple and complex. While there is not a definitive answer, but many real estate professionals note that the best way of increasing the value of a real estate property would be to make small additions and changes that can be effected to see it that the value rise. Of course highly valued real estate should be unique in a way. Let’s examine this.
Step 1 Observe the property
How do the exterior parts of the house look like? No one will rush to buy a dull house when they can get property that is shiny with a fresh coat of paint, even if the rent is higher at the more attractive place! This is because many consider that the place you do business determines who you are. Everyone wants to be considered great in this respect and will opt to the well painted house.
Step 2 Maintain the property
Many things will happen to the house as time goes. It grows old. Some parts wear out. The roofs could leak. The electrical outlets become non functional. In such situations, the investor in the current economically challenged world has to make the necessary small repairs. This will lift the value of the house. But over time, these repairs really add value to the property.
Step 3 Clean up
Next, it is common for rubbish to accumulate around homes as long as there is someone living there. When not cleaned up, the rubbish will give the homes a compromising look and will lower its monetary value. But when cleaned, the reverse will be true. No one likes to shop at stores where there is lots of garbage in the parking lot.
Step 4 Add a garden
Lastly, many believe in a wonderful garden radiating with flowers of different colors around the homes. If you add this idea as part of landscaping the compound, you will take the value of your house a notch higher. When customers enter the property, they should feel proud be doing business with your establishment.
Remember, commercial property should be treated as residential property to add value.