When it comes to property valuation, renovations are the most elusive quality. There’s no universally accepted way to decide which renovations are worth more or less, or by what dollar amount. But just as there are valuation companies that can factor in your renovations, there are rough guidelines.
The other instance is for floor plans where the maid’s room may have its own attached toilet and bath. If you don’t have a maid using the room, and you can’t rent it out , you might consider turning the entire space into a single larger toilet with a bathtub, bigger cabinets, etc. This may be useful for larger families, or for multiple tenants to share.Almost every buyer or tenant considers this to be an advantage, so long as the renovations stay well maintained .
These types of renovations pay off more than, say, putting in a new air-conditioner, or a fancier washer/dryer. Those appliances are more likely to depreciate or even go obsolete over time, whereas structural improvements last throughout. This is a real killjoy, we know; but if your emphasis is the resale value of your home, or improving it as a rental asset, you do lose some of the fun and personality.Better illumination almost always improves the way the property looks, so the light fixtures are a priority. It’s always a good idea to remove older ones that are clouded, flickering, or just too dim.
You don’t need very fancy doors or windows; but at the very least, your renovations should ensure they’re new and polished.One example of this are five-year old flats, which are bought right after their MOP. If you own property of this sort, chances are the renovations are very new. There’s probably no need to hack away everything and redo the place from scratch.
Likewise for flooring, which can be a big cost for homeowners to undertake. It’s good to invest in good quality flooring as experienced homeowners will be attracted to not having to spend additional sums to redo the floors. So unless you are just bent on having wood or cement screed floors, it’s best to stick to good quality vinyl floors or marble , as these stand a better chance of maintaining its look in the long run.
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: asiaonecom - 🏆 10. / 59 Read more »