IF you’re planning to list your home on the market, a large-scale remodelling project can boost its value and make it more appealing to buyers.
But you have to ensure that the amount you have allocated for renovation is money well spent.
Make sure you have an idea of how much you can afford before you start shopping for items you need as part of your renovation.
“The local property market is one of the industries Malaysians venture into as a source of investment. Over time, as the value of properties increases, many investors are on the lookout for opportunities with sellers — both independent and developers — on high alert to hopefully pocket some profit.
“Before sellers capitalise on this opportunity, it is always important for them to understand a property’s market value and how to find ways to increase its worth,” according to Akzo Nobel Paints (Akzo Nobel).
‘Market value’ defines the price point a typical property would fetch under normal situations. This value is usually determined based on four aspects — external characteristics, internal features, market outlook (supply and demand) and location.
“As such, sellers who wish to increase the market value of their properties ought to plan ahead before they contemplate listing or engaging an agent,” it said.
Akzo Nobel shares a few affordable and easy ways to increase the value of one’s property.
LIGHT UP THE FRONT LAWN
When walking through the streets of one’s neighbourhood, the external appeal of a property would be the first to catch one’s attention. An exterior that is warm, welcoming and structurally-sound forms a good first impression. The first step to exterior beautification is to make a list of simple renovation ideas such as decorating the walkway with flower pots or LED lights. Make the main door more visually-appealing with a catchy colour.
Repainting is one of the simplest and most affordable ways to charm passers-by.
UPGRADE YOUR KITCHEN
Everyone loves an amazing kitchen and believe it or not, it is the number one must-upgrade space for greatest returns. According to the latest cost-versus-value
report from Remodelling magazine, the national data shows that a minor kitchen project may yield up to 81 per cent returns on investment.
That means for every RM100 spent on the upgrade, the home value increases by RM83 on average. Keep the interior and colour scheme simple. Heart Wood, is a nice pinkish brown which adds sophistication and subtle elegance to one’s kitchen. Pair with surfaces and fixtures that are versatile, not busy or too loud.
Meanwhile, the key to remodelling is to appeal to the masses, so try to incorporate high-quality stainless steel materials into the kitchen instead.
The cold feel of steel is a hotcake for many buyers, and it will give a better return. Also, spruce things up a little to add that extra mile to one’s home. Consider hanging a pot rack with fresh greeneries, pans and a suspended wine bottle holder to create a modern look. Lighting, such as under-cabinet fixtures, will also add ambiance and show off the materials in the kitchen.
BEAUTIFY YOUR BATHROOM
The bathroom is the next spot to remodel, as a quick refresh can positively affect a potential buyer’s impression of a home. One way to do it is to switch up the tiles and play with textures.
A good budgeting tip is to limit the number of tiles used, and focus on high-impact areas only, such as flooring. A simple colour change on one of the walls could also greatly impact its overall design. By creating a feature wall with different tone, it captures the viewers’ attention almost immediately.
PLAY WITH COLOUR PSYCHOLOGY
Colours can alter a person’s mood, instil calmness, evoke happiness, and even promote appetite. By matching the right colours to the specific part at home, it can instantly increase a home’s appeal to buyers.
BLUE: This is by far the most popular colour out of the primary colours. According to science, blue slows down our metabolism and calms our mind. It is said that it helps with lowering blood pressure and slowing down the heart rate. As such, blue is often considered the ideal colour for many homes and offices. Lighter shades will promote tranquillity, whereas, darker blue is often associated with power, knowledge, and seriousness.
GREEN: This is the colour of nature. Considered the most restful colour for the eye, green transcend security and harmony in design. Paring grey with pastel-like green, such as Garden Haven or Midgetgolf Green from Dulux, would create a contemporary look for the room. The colour itself is very well versatile and can be suited for almost every room in the house.
PURPLE: Dramatic, rich, and sophisticated are common characteristic portrayal of purple. It is often included in design scheme build for luxurious, modern homes. Lighter hues of purple, such as lavender, add a restful quality to the bedroom. Based on research , about 75 per cent of pre-adolescent children prefers purple over other colours. As such, it is widely popular for teenagers’ bedroom.