Buying real estate has always been a popular form of investing “surplus money” in our society, and estimates say that about 40,000 apartments were sold last year. A small investor, with five to ten thousand euros at his disposal, cannot buy a property on which he could make money without expensive investment but can invest in his apartment or house and thus significantly increase their value.
Moreover, an investment of about two thousand euros in the renovation of the bathroom increases the value of the apartment by about five thousand euros, says one of our real estate experts.
Several factors influence the market value of the property. The expert points out that some of them are entirely “local” in nature, such as the fact that many houses and apartments are not registered or legalized.
Therefore, if it is a property worth investing in, it says that it should be borne in mind that renovating certain parts of an apartment or house increases their value significantly. “For example, sanitation affects the final cost of a residence by about five percent. The old, messy bathroom especially rejects potential buyers because they know that repair requires significant resources and the involvement of quality masters, and also makes a living in the apartment very uncomfortable until completion. That is why it is ideal to invest about three thousand euros in a bathroom in an apartment and arrange everything: installations, tiles, bathtubs, electricity, water.
“Usually, however, about two thousand euros is invested, and the price of the apartment instantly rises by five thousand euros. Few options offer such a high return on investment in such a short time,” explains our source.
According to him, the value of the house is significantly influenced by the condition of the joinery and locksmiths, i.e., windows, doors, and floors. “We make a lot of use of cheap PVC joinery and repaired plastics. That, unfortunately, does not contribute to a considerable increase in the quality,” the expert says and hopes investors will return to wood, a material they believe is the best option for increasing value.
The importance of the outdoors is as important as the indoors if the house. Having a nice front yard is a necessity because that is first things buyers see when they come to look for a house. Imagine having a messy yard with darnel, dry flowers and uncut grass. Does that sound appealing to you? Guss not. So it is important to have a nicely done for yard to increase the value of the property. You can check Australianpaving.com and find the tips how to make your yard look more beautiful.
Mistakes in renovation steps
The renovation has gained in popularity in recent years thanks to numerous series on popular cable channels, in which skilled designers and artisans turn even the most neglected homes and apartments into dream properties. Shows like “Property Brothers,” “Going Yard,” or “Kitchen Cousins” are based on the calculations that it pays to invest in your own home or apartment to sell them better and buy and sell new and better real estate. On the other hand, it is precisely such shows that often point to situations where the owner spent a lot of money on renovations and failed to increase the value of the property.
Asked what are the most common mistakes owners make when renovating, the expert replies that resorting to inferior quality materials is the worst thing that can be done. “If you are renovating the exterior of the property, work with quality wood and vacuum all-wood windows. For the interior, choose a more durable oak or a slightly more favorable letter.
He also draws attention to the fact that wooden elements should be arranged in color, especially the color of the door with the color of the parquet.
Lastly, it is imperative to consider whether the apartment or house is energy efficient. “Any investment in better insulation and reduction of energy dissipation pays off. When we buy cars, we ask how much fuel it consumes. I am convinced that in the future, the question of what is written in the energy passport of the property will be crucial to its value,” said the expert.
Home Selling Tips
Selling a property does not go the way you planned? Do potential buyers give up your property? You seem to be leaving your home unhappy, and you don’t know why this is happening? When you sell real estate, many things can go wrong. In this article, we have explained some important things that you should do before you advertise your property. But the best thing you can do is hire a professional agent who can guide you through the whole process and sell your property as soon as possible.
The house is worth as much as the other side is willing to pay
In the end, the property is worth as much as the customer is willing to pay for it. Maybe the buyer believes that the investment does not fit that price. Perhaps they would change something else in that home, and the amount you are looking for is too high since they want to invest more money in it.
Investing may not add value, but it will increase your chances of selling
It is reasonable to expect and hope that every dime you spent on renovations will be returned to you. Well, generally, you only get back a certain percentage of what you invested. Sometimes it doesn’t affect the price. Different investments have different outcomes, and this can vary a lot. The area where you live is a significant factor too. Other factors include the quality of the artistry and the personal taste of the customers.
Purity is essential
There is no perfect property, especially if you have pets. However, you must keep your home clean while advertising it. You want potential customers to get the best impression, not to talk about what a mess it was.
The appearance is the first (and most influential) impression
This part is more about homes, though it can also go for apartments.
We are all aware of how significant the first impression is. It’s tough to change anyone’s minds after a wrong first impression. Get out and look at your house outside. As a foreigner, would you buy it? In case you are biased, look in your neighbor’s yard. Would you buy it? If not, think about what would make you buy it and change it. Take toys out of the yard, hide trash bins, mow the lawn, arrange hedges, especially when painting house ads! But keep it all while you advertise the house, in case someone accidentally walks past your house and wants to take a look.
Neutral colors are always advisable to use
Get rid of the dark colors and light purple walls! That will bounce around a lot in your ad images before the prospect even schedules a tour. The first thought that goes through their heads is, “How many layers of paint does it take to break this disgusting color?!” It is neutral, “and.” Neutral is always “in.” And as for decoration, minimally the best. Feel free to pack excess ribbon that is unnecessary while trying to sell a home.
Cheap repairs and investment results don’t pay off
If you can’t afford the whole house renovation, don’t wash it. Attempts to cover everything will end in inexpensive repairs that the potential buyer will likely repair again. If nothing else, as noted above, at least turn it around. A fresh coat of paint throughout the home, as long as it is a natural color, is never wasted money.
Everything is negotiable
Really! The refrigerator may look like the most significant thing the buyer wants, or the seller includes in the offer. Still, many other things can be negotiated, such as curtains, furniture, shutters, and so on. Anyways, you need to make sure that the negotiations are done correctly and that everything is put in the contract.