The Art of Renovation in Property Transaction
Buying & Selling Homes

The Art of Renovation in Property Transaction

03-02-2020
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Spruce Up and Add Value to Your Properties via Makeovers

In today’s real estate market, selling a home can be a real hassle if it does not meet or conform to the expectations and requirements of a buyer or an investor. Perhaps that old house of yours desperately needs a facelift or makeover. Sprucing up one’s home certainly goes a long in revitalizing its debilitating condition or haggard appearance and restoring it to its original market value. There are many ways that can make your property more attractive and appealing in the eyes of buyers. Discover more below how you can renovate smartly and strategically, and add value to the property you wish to sell.

Homeowners vs investors

When it comes to property renovation, there is one difference that distinguishes between real estate investors and homeowners. Fact that investors are constantly looking to maximize their profits, they often undertake the most minimal or least amount of renovation possible without sacrificing aesthetics or marketability. Investors would purchase abandoned or unsaleable homes at a bargain price and later mark up their prices after refurbishment. Homeowners on the contrary are emotional or sentimental when it comes to sprucing up their homes. As a result, it can be pretty tough to recoup those exorbitant makeovers when it comes time to sell off their properties.

Fundamental amenities

In order to sell a home, there are several basic amenities that are a must-have or a necessity. These include air-conditioners, washing machines, kitchen countertop, hob & cob, bathroom heater, and a stainless-steel water drum (...in the event of water disruptions). Key household facilities also require periodic maintenance and repairs from time to time. Fantastic heating, faultless plumbing, and flawless garden are among the top attributes that truly appeal to home buyers.

Maintenance is a virtue

Sometimes regular maintenance is more cost-effective than having a complete makeover or total overhaul of your interior décor. It all boils down to keeping your home appliances in working order or functioning condition. Extravagant makeovers do not always hike up the price of one’s property. Unwarranted upgrades only serve to break your budget. Most importantly, do your market research pertaining to properties in your own local communities and neighborhoods, and undertake necessary renovations according to individual preferences.

Furnishings does matter

New residential projects generally come fully-furnished. In reality, properties do in fact sell better when unfurnished or semi-furnished. This also gives new home buyers the opportunity to furnish their own homes the way they desire. If you are relocating from your previous home, you may wish to bring along your existing furniture, air- conditioner, and washing machine to your new home. It is also much cheaper to own a semi-furnished house than a fully-furnished one.

Adding greater value

Before the buyer actually enters the home, having a manicured lawn or garden helps to set the mood or tone throughout the transaction. A good property is judged, measured or evaluated through its physical looks particularly from its outer appearance. Having a manicured lawn and well-kempt garden creates an illusion of a dream or fantasy home. Applying a coat of fresh paint on the exterior as well as interior also livens up the overall ambience or atmosphere of the residence itself. In addition, the cost-saving features found in modern green homes are also an added advantage or selling point amongst prospective owners.

Optional upgrades

When it comes to additional accessories and other paraphernalia, home buyers would readily pay a premium especially if the items are included in the sales package. Amenities such as swimming pool, badminton court, wine cellar, solar panels and jacuzzi are sometimes considered a luxury than a necessity in landed homes and high-rise residences. They typically cater to a niche demographic that usually prefers a fancy home. Luxury homes also contain custom fixtures and fittings that can cost a fortune to upkeep or maintain over time.

Investing for the future

Irrespective of whether you choose to make over your home for own stay or future investment, it is worth to consider or keep in mind that the resale value of your house is never idle or stagnant. As with other homes within immediate communities or adjacent neighbourhoods, property prices are often changing and seasonally-variable. With new residential developments in a matured township, house prices tend to rise or skyrocket. Also, the impact of new projects on local properties is quite significant or rather substantial indeed which is truly good!

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