SHOULD YOU RENOVATE YOUR HOUSE BEFORE SELLING?

Selling a house is not only putting a property on the market with a price tag. The condition of it as well as the impression affects how buyers would approach the deal. One of the most common things property owners would do is renovate the property with hopes of pushing the property value higher.

The Buyer’s Perspective

Before going forward with any renovation, try to look at the property from the point of view. If any renovation that would successfully affect the property price, they would be it.

If the upgrades or renovations are seen by the buyer, it is much easier to convince the buyer to pay a higher price because of it.

Be Careful With Major Renovations

While major renovations such as a new kitchen or a bathroom may feel it might add a larger value to the property in general, it doesn't. The reason for this is that some buyers might have a different taste than the property owners’ and it might not matter if it was newly renovated. At the same time the buyers assume that the base and the foundational parts of the property to be present, renovating it would not add any additional value in their eyes.

What Should Property Sellers Focus On?

When it comes to renovating to impress buyers and increase the price tag of the property in the market, the sellers could focus on these.

• Fresh coat of Paint

• Better Lighting

• Landscaping

• Deep Cleaning

• Fixing of all visible damages

These would deliver a better impression to the buyer.

Check the Market Position

Sellers should be aware of their property’s market position. The Dubai Land Department offers insight into the property value of units that are in the same area. The Sale Index through Dubai REST app can offer property market information to compare property prices. This can help property owners to understand where their property value stands in the market.

Spend With Purpose

If a renovation is to be done, make sure that it has a purpose and adds visible value to the property, so it can help secure a higher price and recover the costs. While necessary renovations are obviously required, upgrades should be done with the sole purpose of presenting a better property to the buyer.

To understand what further improvements would impress buyers and what type of buyers are currently in the market, an expert who understands the market can be one of the best resources a property seller could have. Make sure to seek professional assistance from an experienced property consultant to sell your property at the best price in Dubai.