Many people invest in the real estate sector with the sole purpose of selling their property in the future to quickly arrange a large sum of money when needed. This financial need could be for a child’s wedding, education, health, or medical expenses. However, two properties in the same area and with similar locations often have significantly different prices.
While one seller might get the asking price for their property, another might struggle to sell theirs or have to negotiate extensively. The primary reason behind this disparity is the maintenance of the property. If you’re looking to sell a property and want to get the desired price without much hassle, consider the following tips:
1. Repairs and Renovations
The first rule to getting your desired price for a property is regular maintenance, ensuring it looks as good as new. Think about it: would you want to invest in a property that looks dirty or shabby?
“Start with repainting the interior and exterior walls. If there are areas where the plaster, tiles, or flooring are chipped or damaged, don’t delay in getting them repaired, as this will make the property more attractive. If your balcony overlooks a common area garden or your property has a lawn or garden, pay attention to its beautification, as this can also increase the property’s value. Additionally, consider renovating the kitchen and bathrooms. Modern kitchens and bathrooms are significant factors in boosting a property’s value,” suggests Pradeep Mishra, CMD, ORAM Developments.
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2. Energy Efficiency
If your property is on the top floor of a multi-story building or is part of a plotted development, consider installing solar panels on the roof. Solar or renewable energy is much cheaper than the electricity supplied to homes. Plus, you can benefit from various government schemes related to this. There’s no doubt that a potential buyer will appreciate the prospect of reduced energy costs with solar energy. If the buyer isn’t interested in this feature, you can always remove the panels and use them elsewhere.
3. Additional Features and Expansion
If possible, you can increase the property’s value by adding extra rooms or converting a room into a home office. Since the COVID-19 pandemic, people have shown more interest in properties where they can work from home without any interruptions.
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