Nowadays, many people acquire an apartment for themselves but have to sell it when they relocate to another location. In contrast to an independent villa or a plot of land, the monetary worth of a flat reduces with time due to the property’s shorter ownership. The lower the price, the older the apartment. There are numerous second-hand 4 BHK flats in Adyar for sale at half the price of freshly constructed ones. The primary reason house purchasers invest in real estate is for the long-term rewards, including capital gain over time. Aside from monthly rental, it also gives you the option of flipping your house for a better price owing to real estate market appreciation. However, there are several ways to increase the value of an apartment; you only need to choose the ones that would complement the interior of your home. A minor refurbishment might go a long way when securing a price for it.
This article has provided some suggestions for increasing your flat’s resale value.
Put yourself in the buyer’s shoes
When listing your flat for resale, like luxury apartments in Adyar, it is usually a good idea to look at the property through the eyes of a buyer.
- Aside from the standard fresh coat of paint and requirements such as brand new bathroom fixtures, try remodelling your flat to add more worth.
- Remove any wall cracks and replace old-school mosaic flooring with modern vitrified tiles.
- It is also advisable to maintain the home well aired and allow as much natural daylight as possible.
- Give your front door a fresh coat of varnish, and don’t overlook the entry of the house because clients tend to judge whether or not they like the property in the first 5 seconds of the tour.
- Before listing your home for sale, make sure you invest in effective pest treatment and have all security systems reviewed.
Understand your intended audience
The buyer’s personality should be considered while pricing apartments in Chennai. Begin with some word-of-mouth marketing, initially approaching potential consumers in your wider social network. You may also distribute flyers in your neighbourhood to spread the information. It will also be beneficial to have modest adjustments or alterations made to the home to tailor the pace to the preferences of the possible target purchasers.
Check for any water seepages
Water seepage and old homes have long gone hand in hand. Damp spots and discoloured walls are unappealing and can significantly reduce the market value of your home. Replace old and worn-out pipes with new ones to solve the water seepage problem in your flat. Also, keep an eye out for ceiling leaks. The money you spend on renovating your apartment can help you receive a higher price when it comes time to close the sale.
Set the correct price
Setting the right price for your home is the most critical stage in reselling apartments in Chennai. It is vital to price it correctly, with a reasonable profit margin for buyers and sellers. Do some market research and look at other home prices in your area to get a general idea. To better understand the suitable values in your area, consult online property portals and major magazines. If you want to sell your home quickly, offer an early-bird discount to entice potential buyers. However, it is preferable to be flexible and price the property based on its value.
To receive the highest resale value for your flat, make sure you perform your marketing and advertising correctly. You may save money by avoiding real estate agents and listing your house on as many property websites as possible. It is essential to hire a professional photographer to take photos of the property for web postings. High-quality images will attract a more significant number of clients and assist you in obtaining the best offer. Homebuyers choose an older, ready-to-move-in apartment in Chennai from a reputable real estate brand over a new flat from an unknown property developer.
Increase curb appeal
A few strategically placed decorative things such as plants, a corner table, a statue, or exterior lighting may make your house appear more welcoming. You may quickly revitalize your area with a doorknob, light switch cover, and cabinet handle. These minor architectural details may not only provide an unusual and eye-catching appeal.
Remodel the kitchen or bathroom
You won’t believe it, but remodelling the kitchen and bathrooms may increase the value of your apartment. Simply change or add cabinets, worktops, ceramics, flooring, lighting fixtures, and electrical appliances to transform the area thoroughly.
Design a more functional floor plan
A few tweaks to the floor plan can improve the functionality of your home. It might be anything as simple as rearranging a kitchen to provide extra useable space or adding a bathroom to the master bedroom.
Don’t go overboard
Many individuals overpay to raise the value of their homes several times over. However, this does not work effectively for significantly newer houses. Also, individuals often overdo the furnishings, resulting in a mismatched effect. Fitting high-end, opulent furnishings and appliances into a property in middle-class neighbourhood property would be an over-improvement. Contact an interior designer or carry out the entire procedure after extensive study to avoid making these blunders.
In a nutshell,
To increase the monetary worth of your property, simply give it a new look since a new homebuyer would not want to dwell in a house that reflects your lifestyle. Cleaning and painting the home is essential in this case. Aside from that, you may also include some creative touches and remodel a couple of shabby rooms.