Factors That Increase The Value of Property

You must keep in mind that there are some things you can do to increase the value of your property. In the current market, where there is an overstock, eliminate the usual complaints made by purchasers during negotiations.

There are particular steps you may take to add to the increased value of the property. And impact the buyer’s decision in your favor rather than the other one when comparing two houses.

Among these elements are:

• Neat and clean presentation – So that purchasers can grow to like it and are not turned off by its current state, the property should be neat, clean, and presentable. Hiring a deep cleaning service for your property, which typically costs between Rs 4,000 and Rs 6,000, is highly recommended. These cleaning teams completely clean the house with specific chemicals while removing any clutter and trash.

Prospective buyers may think it will be easier to move because of how clean it is, which can benefit your property’s sale.

• Work on the kitchen and washroom – The kitchen and bathroom are the two rooms that buyers inspect closely. when evaluating a resale house, according to brokers are adept at understanding and addressing the demands of buyers. It may be wise to spend money on a modular kitchen. if you don’t have one so that the cooking space looks modern and attractive. Ensure that the modular kitchen package includes a chimney and hob (a contemporary gas stove). Depending on the size and the kind of materials you want, this work could run you between Rs. 2 and Rs. 3 lacks.

You should make sure that the restroom has been well-cleaned and that all of the fixtures are operational. It would be quite advantageous to fix the underlying pipe and then repaint the wall. if there is seepage on the bathroom roof or wall (costing between Rs 5,000 to Rs 10,000). See pages can give the impression that a building was poorly constructed, and because potential purchasers worry that these issues could recur in the future, they are less inclined to buy the property.

Applying New Paint

It is best to have the home painted throughout before you list it for sale. Real estate agents also reaffirm, without a doubt, that a freshly painted property gives off a pleasant and favorable impression. Home purchases, even in the resale segment, are substantial transactions in the eyes of buyers.

White is a good color to choose. since it gives the impression that a room is larger. Consider using a reputed paint company as well because the appearance and quality of the paint job matter. For a 1,000–1,300 square foot property, this task may cost between Rs 80,000 and Rs 1 lakh.

As a result of the perception of quality and high standards that are fostered in the minds of potential purchasers. an investment of Rs 2-3 lakh into fixing and enhancing your house can add a financial value of up to Rs 5-8 lakh to the ultimate price of your property. Therefore, carrying out these tasks may be quite advantageous.

The value of property can, however, also be favorably impacted by some uncontrollable variables. These include the current demand and supply relationship. And the infrastructure’s current state in your local real estate market. Sometimes there may be considerably greater demand for homes in a place than there are available. It’s a seller’s market right now. In contrast, a buyers’ market exists.

You can think of infrastructure in terms of transportation (access to important highways, railroads, and metro service), social amenities (close proximity to schools, hospitals, shopping centers, etc.), and public amenities (such as water, electricity, drainage, and sewerage). Spend some time studying each of these separately because they are made up of numerous variables. Click here to read more about this.

After researching the elements that can raise a property’s value, there are others that act in the opposite direction to lower it. Again, you have some control over some of these and not others. To research these elements, Click here 

Disclaimer: The opinions shown above are mainly for informational reasons and are based on market research. Deal Acres is not responsible for any actions made as a result of relying on the provided material and makes no representations as to its accuracy, completeness, or reliability.