Simple and effective ways to boost your property’s value

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.

“If your property includes a garage or covered parking space, ensure it is clean and well-maintained. Also, ensure proper lighting throughout the home, check that no faucets are leaking in the bathrooms, and ensure all electrical switches, fans, and exhaust fans are functioning correctly. This will show potential buyers that you have taken a professional approach to maintaining the property,” says Mishra.

4. Property Security

Security is a top priority for any buyer in today’s market. Potential buyers will want to know how safe the area is, including the crime rate, and what security measures have been implemented in the property. Modern security systems now include electronic surveillance. CCTV cameras are commonly used to monitor the movement of people or any unwanted elements, and burglar alarm systems notify both you and your neighbors if someone attempts to break in. Additionally, smart locks at the main entrance that open with a key, biometric, or code are also in demand. If your property includes these features, it will undoubtedly contribute to its value.

5. Pricing

Setting the right price is crucial for a quick sale. If you ask a fair price, you’re more likely to achieve it. “You can assess the average price in the area by visiting or asking someone you know to visit properties in that locality. After talking to a few dealers, you’ll get an idea of the average price. You can then add the cost of any interior work and additional features to set the appropriate price for your property. Alternatively, you can seek the help of an experienced real estate agent to determine the property’s value, as you may need their assistance to sell it in the market,” advises Mishra.

If you prefer not to use an agent, there are many online platforms where you can list your property. By keeping these tips in mind when bringing your property to market, you’ll ensure maximum profit and increase your chances of getting the best return on your investment.