Getting a new property that fits your needs is as important as being able to sell your own home at the best possible price. And the same applies if the idea is to rent your own property. There are some determining factors that put a value range per square meter to which the property is quoted, such as the area, the age and the quality of the construction. But there are others in which we can intervene: tips to achieve your property are worth more.
But within that band a better sales result can be obtained, either in price or in the quality to which the operation is specified. The first thing we have to make sure is that the property is at the right price. From there, at the same value between two houses or apartments,
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Rule #1: The kitchen remains being the queen of the house
Buyers of all kinds have always paid attention to the kitchen, but she is particularly attractive to the new wave of buyers of their first home. A “modern and up-to-date kitchen” topped the list of ideal household characteristics of our survey conducted among the millennium generation, and proved to be the most important for more than 1/3 of the respondents. If you plan to sell, don’t throw your kitchen down; A smaller investment can cause great impact. For just $ 5,000, you should be able to add a new set of appliances, as well as change the floor and counter so everything looks bright and harmonious. Applying a coat of fresh paint to the walls or cabinets, and updating the hardware can also rejuvenate the space.
Stainless steel. Although it has existed for decades, this electrical appliance finish expresses a clean and contemporary design, so that it will light an “updated” signal in the buyer’s mind. If you want the latest fashion shout in stainless, look for the new black stainless-steel versions of KitchenAid, LG, and Samsung, each with a softer and less reflective finish, but with the same style as the original.
Potential increase in the sale price: 3 to 7%.
Rule # 2: Take better the house plan
Bigger is not necessarily better in today’s market, but strategically increasing the amount of living space in a house certainly adds value. An “open floor plan with flexible living space” was the second feature in the list of characteristics desired by millennials, surpassed only by the modernisation of the kitchen.
Remodeling a basement is the most common way to add more usable square feet to a house. Most homeowners spend approximately $ 10,000 to $ 27,000 to transform a basement, based on the size of the space, according to HomeAdvisor calculations, a website that connects homeowners with shortlisted service professionals. Another option is to transform the attic or attic.
Many young buyers dream of additional habitable spaces such as a dedicated office, especially if they work from home. And on the other side of the spectrum, a lot of my customers of the baby boomer generation take care of their grandchildren during the day. They want a game room where they can close the door once the children leave, so they don’t have to deal with toys on the floor.”
Multipurpose rooms. Also known as multipurpose rooms, you will see that the ads promote the multipurpose room as an additional habitable area that serves several functions, from a guest room, through a game room or gymnasium to a study room for children.
Apartment for old people. These spaces have several names, including “departments for grandmothers”, little houses, and the most technical, accessory housing unit. They can accommodate one more member of the family or provide income for rent, which allows baby boomers to continue facing the expenses of their home once they retire, or so that they can help those of the millennium generation to pay the mortgage. More and more municipalities, particularly in western cities, are amending zoning standards to allow modifications.
Laundry rooms upstairs. Young shoppers say they want a separate laundry room, possibly outside the kitchen or even near the rooms on the second floor. The manufacturers of clothes washers and dryers are designing them of a size and with a finish that integrates them perfectly into the living space.
Rule # 3: don’t let your house consume so much energy
Reducing the energy costs of your home will allow you to save money while living there and will be one of the favorable points of sale. Actually, “energy efficient use” was second, second only to “a safe community” in the list of features that would most influence a purchase decision, according to a survey conducted by the National Association of Home Builders in 2015
Older owners, who have suffered in their own flesh the rising costs of energy, are those who tend to drive this point. But there are also some pioneers among young buyers, especially in regions of the country with more extreme climates. They want to know the R value of thermal resistance in insulation and if the windows are coated with low emissivity layers.
And don’t forget about water heating, which represents 16% of the energy costs of a typical home.
Buzzwords that add value
High efficiency windows. Windows with the Energy Star certificate can reduce your home’s energy bills by 7 to 15%.
This will be a selling point for buyers, although replacing all the windows of a house anywhere can cost $ 8,000 to $ 24,000, so you probably won’t get back the entire investment if your plan is to sell it now.
Led lights. Some property publications emphasize green credentials by mentioning that they have LED lighting. Choose to replace the 60-watt bulb of Feit Electric with a 9.5-watt LED bulb, which costs $ 7, provides unsurpassed light quality and has an expected life of 23 years.
Potential increase: 1 to 3%.
Here at Conveyancing in Melbourne we offer all the services related to assistance required for the process of buying a new property. Contact us!
