5 ways to add value to your apartment quickly
28 May 2020
Are you planning to sell your house? What are the tweaks or improvisations you included to increase its value?
The goal of any property investment is to increase the value. After you make some investment in your apartment, you are maximizing the value of it. Some renovations are expensive, but there are ways to increase your apartment value on a budget.
So which home improvement projects should you invest in, and which projects should you avoid? While you may not be able to remove walls, add windows, or raise ceilings in your apartment, there are a number of quick but very effective fixes you can do to turn your property into a magnet for buyers. With a few simple exterior and interior touches, you can give your property a boost in value without a hefty renovation or costly overhaul.
If you are planning to sell your flat, then the kitchen is one of the aspects that will drive money. Most people consider the kitchen to be the heart of the home, and because of this, updates in this room pay off. Prospective buyers are looking for kitchens that are ready to use, offer comfort and convenience. Investing into kitchen updates offers one of the best ROIs.
Without the budget or time for a kitchen wide renovation, start with an assessment of your storage space and refresh your cabinet doors with new knobs and handles, add shelving options or apply a bright new finish. Check for the sink, replace it if it is rusty or get it cleaned if it stinks. Refresh the look of your stovetop and oven and replace any appliances older than ten years. Small tweaks can bring about a huge turnover.
After the kitchen, the bathroom is the next most important room to tackle when it comes to adding value. It’s an important and frequented room of the house so it’s no surprise that your bathroom can play a pivotal role in affecting a buyer’s decision. However, when you’re on a budget a complete renovation usually isn’t required. Small meaningful touches such as replacing a rusty old faucet with a slick, modern tap can go a long way in modernising an apartment. Along with a new faucet, consider a dual toilet flush or versatile showerheads to ensure your bathroom is water efficient, an important consideration for potential buyers.
You don’t need mega-bucks to transform your bathroom into a relaxing, cool space. There are plenty of ways to renovate and redesign on a budget.
Nice floors are very important if you are looking to get some good offers. Buyers will walk away from homes with bad flooring the same way they’ll walk away from homes that smell bad, or have little to no curb appeal. It’s extremely important that you consider the return-on-investment (ROI) of any home renovation, especially flooring. And while there are kinds of flooring that increase home value more than others (like hardwood versus carpeting), the real challenge in selling an imperfect home is knowing which remodelling projects will increase value, and which will not.
It’s no surprise— hardwood flooring has long been the top choice for buyers, and remains so in today’s market. According to the National Wood Flooring Association, 99% of real estate agents say homes with hardwood are easier to sell, with 90% saying they sell for more money. Also, based on real estate experts, new hardwood floors could increase the asking price of an apartment by as much as 5%. A rule of thumb when installing any new flooring material is to select light and bright colors. These will create the appearance of more light and space throughout the apartment.
Smart home features especially appeal to younger buyers, but they are becoming increasingly popular across all demographics. If you can add a home automation system like Google Home or Amazon Echo to your home, you could attract buyers in droves and decrease the time your house spends on property listings. Based on surveys, people find voice control to be more intuitive and practical, specifically in its user friendliness, hands-free control, and location flexibility. Also, things like smart entertainment systems, smart lighting options, and smart security elements are fairly trendy right now and could easily increase property value.
Lighting is a tool that can completely transform a room. Consider replacing old-fashioned ceiling lamps with simple, contemporary lights. Lighting is really important when selling your home, as no buyer is going to want to live in a dark space. Down-lights look good in most environments and lighting can be used to play up other pieces of decor in the home. Energy efficient lighting can also boost a property’s appeal.
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Nicolas Gavriel
