WAYS TO INCREASE THE VALUE OF YOUR CONDOMINIUM UNIT | Do you have properties for listing and hoping to rent out or sell your properties as soon as possible? There are many properties that you can check them out from PropertyGuru Singapore.
With so many properties in Singapore, the competition is strong. Moreover, with so many competitors out there, it seems like nobody is viewing your posting of your rental.
WAYS TO INCREASE THE VALUE OF YOUR CONDOMINIUM UNIT
Worry not, this article will guide you through the tips to increase your property value to attract potential buyers or potential renters.
1. Bathroom makeover
Bathroom is an essential part of every home. Make sure the shower head, towel racks and toilet paper holders are still in working condition. Is the heater still working? If not, service it. Are the light bulbs still working? If not, change a new light bulb.
Service them all while the problems are still minor. Do not wait until it becomes a major problem and end up being a damage where you cannot repair and the only way is to replace a new one. That will then cost you a whole lot more than just servicing and maintaining.
In addition, position matters as well. Nothing annoys people more than having a fixture placed at a very odd and inconvenience location, for example, toilet paper holders located at an unreachable location. You can also consider putting a large mirror in the bathroom if the space allows, as most people get themselves dressed in the bathroom.
2. Get rid of bad odour
Bad odour is a major turn off for people as nobody likes bad smell. Therefore, you should always clean your property. Go through thorough cleaning for your condominium unit and change the carpets whenever it is dirty or dusty.
If you really cannot get rid of the bad odour in your unit, seek for professional help in eliminating the bad odour in your unit. Make sure the bad odour disappears before you show your unit to potential buyers or renters.
3. Go green
Over the years, people have been more conscious about our environment. Most people are getting more and more environmentally friendly. Therefore, you should make an effort to make your unit more environmentally friendly so possible buyers will know that your unit will be a good investment in the long run.
You can go green by changing your existing lights to LED lights, use only energy efficient appliances and use low flow shower head instead of the normal ones to save on water.
4. Create storage
Getting a right storage is essential to all homeowners. By having a right storage, things can be kept in an organized way instead of having things scattered all over the place. You can get enough storage by choosing a right size for your closet and wardrobe to have enough compartments for storage. You can also opt for build in shelves and closet to maximize space for storage.
Do bear in mind that the potential buyers or tenant’s needs should always be prioritised. Take into account little factors such as the weather and humidity of Singapore. Since the weather in Singapore is hot and humid, naturally you will need to install ceiling fans and air conditioners in your property in order to score extra brownie points that will greatly result in higher rental.
Other electrical appliances such as refrigerator, washing machine and dryer are also essential in your property that helps in increasing your rental yield or property value. Therefore, you will always need to keep up with maintenance and check on the conditions of the electrical appliances in your home.
During the lease, there will be some unexpected wear and tear that happen, such as light bulb goes out, leaking faucets and sinks, clogged sinks and so on. Whilst good tenants will just fix the minor problems on his own, you as a landlord bears the responsibilities of fixing major problems. If the shower head is spoilt, fix it. If the refrigerator or washing machine is not working, fix it.
6. Organize your furniture
Furniture plays an important role in increasing your rental yield as well. That being said, a fully furnished property is definitely more attractive than a partly furnished or unfurnished property. Therefore, the rental yield for a furnished property will be higher than a partly furnished or unfurnished property.
Basic furniture such as sofas, dining table, chairs, beds, and wardrobes should be readily available when the tenants visit your property.
It is actually not a hard job to increase your property value if you follow all these tips. Make some simple improvements to your unit and make your potential buyers or tenants feel like it is more than just a house but a home sweet home.
You will also need to make an effort to constantly maintain your house as only a well maintained house will boost the property value. Most importantly, these tips are mostly low cost. You will be blown away on how much of a huge difference it can make if you follow all these tips and at the same time, boost your property value in Singapore.