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5 ways to boost the Resale Value of your Apartment
January 11, 2018
The main reason why home buyers invest in real estate is because of the long-term benefits including the capital appreciation over a long time frame. Apart from monthly rental, it also provides you with the option of reselling your property for a higher value due to the appreciation in real estate prices. Here are the top ways to boost the resale value of your apartment and get the best deal in the process.
1. Put yourself in the buyer’s shoes: While putting your apartment up for resale, it is always a good idea to see the property from a buyer’s perspective. Apart from the usual fresh coat of paint and essentials like the brand new bathroom fixtures, try adding more value to your apartment by revamping it. Get rid of all cracks in the walls and replace old-school mosaic flooring with sleek vitrified tiles. Try upgrading the kitchen with the top kitchen design trends to make the apartment look more appealing. It is also a good option to keep the property well ventilated and bring in as much natural lighting as possible. Give your main door a fresh new coat of varnish and make sure you do not neglect the entrance of the house as people tend to decide if they like the property or not in the first 5 seconds of the tour. Also, make sure you invest in good pest control and have all the security systems checked before putting your property up for sale.
2. Know your target audience: Thinking of the nature of the buyer plays a huge role in pricing your property. Start with a little word-of- mouth marketing and approach the potential buyers in your extended social circle first. You can also put up notices around your locality to get the word out there. Also, it will help to get minor adjustment or changes done in the property to help customise the pace to suit the taste of the potential target buyers.
3. Make sure there is no water seepages/leakages: Old properties and water seepage have always gone hand-in- hand. Damp patches and discoloured walls are not very inviting and can drastically bring down the resale value of your property. Rectify the water seepage problem in your apartment by replacing old and worn ou pipes with brand new ones. Also, make sure you check for ceiling leakages. The money spent on refurbishing your apartment will help you get a better price while closing the deal.
4. Price it right: Pricing your property right is the most crucial step to reselling an apartment. It is important to price it just right with a good margin of benefit for both the buyer and seller. Do your research on market trends and look up other property prices in your neighbourhood for a rough idea. You can check out online property portals and leading publications to get a closer insight into the appropriate values in your locality. If you are planning to sell your property quickly, opt for an early-bird discount to attract potential buyers. However, it is best to be open to negotiation and rate the property as per the value it provides.
5. Advertise the right way: To get the best resale value for your apartment, make sure you do the marketing and advertising right. You can cut down costs by keeping real estate agents at bay and putting your property up for sale on as many property portals as possible. It is also advisable to invest in a good photographer to take pictures of the property for the online posts. As the saying goes, a picture speaks a thousand words. High-quality pictures will attract a larger group of customers and help you in getting the best deal. Apart from the tips mentioned above, it is always a good idea to invest in a credible builder to get the best resale value for your apartment. Home-buyers give more priority to an old, ready- to-occupy apartment from a reputed real estate brand than a new apartment from an unknown property developer. Brigade is one of the most-preferred builders for stunning apartments with world-class amenities and top focus on privacy. Post RERA and GST, the real estate sector has shaped up really well, pushing first-time home buyers to rush to their favourite developers for the best properties at affordable prices. Head out to the Brigade Group today and upgrade your address.
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