We are Wealth Clinic Team
Want to sell your house but not getting the price this piece of real estate deserve?
Focus on raising its perceived value rather than attracting more buyers. A house can fetch a higher price tag when you add value to it and remove the shortcomings visiting buyers often complains about.
Like most things we buy, we buy first with our eyes and then with our wallets. And same is true for real estate as well. House can be made more appealing and functional if you have the money and taste to work on it. And there is no limit to things you can do or money one can spend to hike its value and popularity. However, it doesn’t make sense to spend more than you are destined to earn as profit.
Then there is another looming problem to address. Will what you find appealing appeal to prospective buyers as well?
For a house that is undervalued, every penny spent on beautification has to be justified and work for most of the buyers. Herein we present incredible tips to increase the value of the house you have put on sale – efficiently and universally.
Neat & Clean Property
The property must be neat, clean, organized, and presentable to leave a great first impression on visitors. A poorly kept property – however large – is a put-off. Hire a cleaning service if you can’t do it yourself.
They’ll clean everything up and make it all shiny and nice for around Rs 4,000 to Rs 6,000. They even use special chemicals to make sure everything is super clean and they’ll take away all the junk.
Take special care of the kitchen and washroom
Oh, and guess what? Buyers really care about the kitchen and the washroom. So, if you don’t have a cool modular kitchen, it might be a good idea to get one. Make sure it comes with a fancy chimney and a cool gas stove. It might cost around Rs 2-3 lakh, depending on what you want and how big your kitchen is. Having a nice kitchen will make the buyers think they won’t have to do much work when they move in, and that’s a big plus for your house!
Speaking of the washroom, make sure it’s deep-cleaned with all fixtures fully functional. Repaint the walls if it appears faded, discolored, or simply not like new. Have seepage on the washroom roof or the wall? Get the underlying pipe fixed. Seepage looks terrible and is one of the greatest deal-breaker. It reflects poorly on construction and plumbing quality. Even a relatively new house can appear like a beat-up property with seepages. Undo these at all costs!
Repaint the whole property if you can
It’s strongly recommended! Remember how a house – any house – looks fresh and new after we get it painted? And while you are at it, make sure to use quality paint from a quality brand to get the best finish.
As for color, go for white, off-white, or any lighter shade to make the space appear larger than they actually are. It might cost you anything between Rs 70,000 – Rs 1 lakh for a property spread across 1,000 sq ft to 1,200 sq ft.
Before you develop cold feet having heard the cost, allow us to tell you that an investment of Rs 2-3 lakh into fixing your house can add up to Rs 5-8 lakh to its final price.
Houses with furniture sell faster
Have an empty house? Fill it up with furniture, carpet, and curtains to make it inviting in the eyes of buyers. A homebuyer envisions living in every house they visit. And if you can make him/her feel like it’d be fun living there, you have won.
Ask for Professional Help
If you are seriously thinking of renovating your house to get a better deal, you might as well hire a professional. That way, you’ll not only get your money’s worth but also accountability from the vendor. If money has to be spent, why not spend it professionally?
In addition, there are professional agencies cut out for the job of selling your property faster and at a better price. Do give them a try if you don’t succeed on your own.
Factors outside your control that control your property’s perceived value
These are some of the stuff you can try to make your property more popular and more premium. But there also are factors beyond your control that can take the prices soaring high or crashing-down. Let’s have a look at them as well.
Demand and Supply Equation of the Area: What price your property may end up fetching also depends on where it is located. If the area is in demand, people will line up for your property irrespective of its condition. However, the better the property, the higher offer it will receive.
One reason why an area is in demand is the status of infrastructure – present or prospective – there. Connectivity like access to roads, railways, and metros; Utilities like electricity, water, drainage, and civic amenities such as schools, hospitals, hotels, malls, and multiplexes make a location popular for home buyers.
Happy house selling!
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