Homes, no matter how big or small, do not only serve as a primary place for shelter. It is also a place where we can truly be ourselves as well. After all, it has been widely believed that your home would either reflect who you are or how you want to portray yourself to the world. In this regard, the sentiment that our growth and maturity should run parallel and in congruence to our homes rings true. Whether we live in mansions, lofts, flats or condo units, it is imperative that as we evolve, so should our homes. Apart from the result being a reflection of who we are or conveying how we wish to be perceived, a home renovation is paramount if you wish to sell it in the future.
In today’s competitive real estate market, ensuring that your property would sell is already a challenge by itself. However, having your property sell at an attractive price is another thing and would make selling it even more of a challenge. With all these in consideration, updating our homes would not only be recommended but necessary as well. Condo units are ever more of a challenge than regular homes as you would have to conform to the association’s standards and board restrictions. Selecting the right kind of renovations would not only be approved by the board but would enable you to yield better revenue should you choose to rent it out or sell it. In any case, if you are planning to do some significant work in your condo in Makati Philippines or elsewhere, be sure to ask the board of director’s first then consider these renovation projects as they will yield a better return on investment:
1.) Update light fixtures
Lighting contributes to the overall aesthetics of a space—so much so that investing in the right kind of light fixtures would do wonders in enhancing and improving your interiors. Furthermore, updating your light fixtures is an avenue for renovating the look of your condo without it being intrusive. Take note; diminutive spaces look better when they are complemented with well-thought-of lighting to open the area with brightness. To bring out a space’s true potential for beauty, go for light fixtures that do not just add light but add to the aesthetics as well.
2.) A fresh coat of paint
Affordable and practical, applying a fresh coat of paint is easily the best avenue for improving your ROI with home renovation investments. It would instantly improve the appearance of your unit and can indeed change and redefine a room’s mood and ambiance. Instead of simply painting your walls, step it up and boost aesthetics by giving it modern finishes such as accent walls. This will give your unit a contemporary look that would appeal to both buyers and tenants.
Condominiums are centered on urban living with most of their slogans advocating the live, work and play scheme. In this regard, you can expect most prospective tenants to be young professionals or small families who are looking to start out. With this in consideration, your design should be geared towards modern finishings and furniture. However, do not overdo it as you would also want your potential tenants or homebuyers to have room for giving the unit their very own personal touch. As contemporary and modern interior design appeals to a wider set of audiences, it would be a lot safer to take this route than approaching the design traditionally.
4.) Complete Amenities
Let us face it, a condo unit that comes with a washer and dryer and most appliances would entice more buyers than the one that comes only with the basic amenities. In fact, it has been widely considered for a condo unit to be obsolete (not to mention inconvenient) if it comes sans a washer and dryer. Ensuring that you have all the essential and proper amenities would show your prospective tenants and homebuyers that you care. Furthermore, your unit would be a lot more liveable which consequently means that you would be able to leverage the rental or buying price.
So there you have it, 4 simple foolproof tips to renovate your space that will hopefully give you a slightly better guarantee when the aim is to gain that essential return on investment when selling you property in the future.