Owning and managing an office building comes with a long list of responsibilities, from commercial property maintenance to keeping tenants satisfied, but when the time comes to sell, that list gets a little bit longer.
Selling your office building is a great opportunity to pocket some serious cash, so you need to do everything you can to maximize the value of the property before you put it on the market.
If you’re in a need-to-sell situation with no funds for renovations, there are still plenty of things you can do to increase the value of your office building before you sell. Here are some DIY projects you can take on that are certain to add value to your office building.
1. Paint interior walls
Adding a fresh coat of paint to the interior walls of your office building is guaranteed to increase its market value. It allows potential buyers to imagine what things might look like when they move in, without having to see potential cracks and marks.
Doing it yourself will save you loads of money, and will give you the chance to ensure that the job is done well. Just make sure that you dust and clean beforehand because covering up a mess with paint will only turn potential buyers away!
2. Landscaping improvements
You might not realize it, but the quality of your landscaping will almost certainly impact the value of your office building. As a part of the property, the landscaping itself needs to be just as attractive as the inside of your building.
Fixing up the landscaping can be as simple as mowing, edging, and weed-eating, or as complicated as re-sodding and planting new shrubs. Either way, the final product will attract potential buyers, as well as increase the property value.
3. Power-wash and paint exterior
Potential buyers are looking to get the most bang for their buck, and while your office building may not be brand new, it can certainly look the part. Spend some time over a weekend or two and power-wash the exterior of your building. Time has a way of leaving office buildings looking less than desirable, but a simple wash can reverse that. Take your outdoor revamp to another level by repainting the exterior as well!
4. New carpet or flooring
If you’re looking to increase the value of your office building on a budget, another great way to do so is by replacing the carpets or flooring. Ripping up old carpet is a job easy enough for anyone, and laying fresh carpet isn’t difficult to learn.
Carpets in office buildings take a significant beating over time with thousands of people coming in and out, walking the same paths over and over. Even with regular cleaning, old carpets will still look old, so it’s important to replace them before you decide to sell. You might not even recognize your office building afterwards!
5. Install floating shelves in larger offices
Increasing the value of an office building doesn’t always require massive renovations. Installing something as simple and useful as floating shelves in the larger offices will attract more potential buyers, as they’ll be able to save money on office furniture, and might be more willing to pay a little bit extra.
6. Update light fixtures
Another easy but effective way to increase the value of your office building is by updating the light fixtures. Many office buildings utilize simple fluorescent lighting, which is effective and cost-efficient, but in other areas of your office building, you may want to consider updating the lighting.
For example, you can replace lighting in the bathrooms for a more modern look, or implement higher quality light fixtures in the lobby to give potential buyers a little more of that “wow” factor as they walk in for the first time. This will give potential buyers the first impression that they want their customers to have when entering for the first time, and all you may need to do is install quality lighting!
7. Hire a professional
Increasing the value of your office building even further might require more trained hands, like if you want to construct a new facade, or expand your building’s square-footage. As always, when a job is beyond your own personal abilities, we recommend that you hire a professional, such as FMP Construction.
Hiring a professional construction company may stretch your pockets a little bit more, but if you find the right company, you’re likely to make all of that back, and then some!
Increasing the value of your office building doesn’t always require massive renovations. Give these DIY projects a try and watch the value of your office building skyrocket!