Up The Value Of Real Estate Before Inheritance

Maximizing the value of real estate prior to inheritance

June 19, 2024
1 minute

Estate planning involves ensuring that your properties achieve their maximum market value. Here are some effective strategies to enhance the value of your properties before passing them on to your heirs. These approaches can make your properties more appealing while also maximizing the financial inheritance.

Carrying out renovations

Focus your efforts on improvements that will provide the best return on investment. For instance, renovations in the kitchen and bathroom are updates that can significantly boost the value of a property. These enhancements not only raise the market value but also enhance the property’s appeal, making it more attractive to potential buyers.

Energy efficiency improvements

Investing in energy-efficient improvements such as better insulation, the installation of double-glazed windows, or a more efficient heating system can significantly increase the value of your property. These improvements reduce operating costs and can be a major selling point for buyers. Don’t forget to ask about government subsidies available for such work!

Aesthetic updating

Simple aesthetic improvements, such as applying a fresh coat of paint, replacing worn floor coverings, or enhancing the landscaping, can significantly transform the appearance of a property and increase its sales potential. These updates, although often inexpensive, can make a big difference to buyers’ perception of the property.

Accurate market appraisal

Before starting any renovations, it’s wise to consult a real estate broker to identify which improvements will be most cost-effective in your local market. An accurate appraisal can help you prioritize the renovations that will add the most value to your property.

For a market appraisal and personalized advice, contact us. Our expertise can help you make informed decisions to maximize your estate’s value before succession.