Renovations can increase a home’s value by up to 30%, according to the Mexican Association of Remodeling and Improvement Specialists (Amermac).
Paying attention to small details such as painting and cleaning the property can be key factors for potential buyers.
Real estate is itself a smart investment, as it can generate income both in the short and long term. For this reason, some people decide to invest in properties to resell or rent them, often making a series of adjustments to secure a higher profit. According to the Mexican Association of Remodeling and Improvement Specialists (Amermac), a renovated home can increase its appraised value by as much as 30%.
However, maintenance should be a constant if you aim to keep the property in good condition, especially if you plan to sell it, as this can influence potential buyers’ decisions. But it’s not all about renovations; there are other measures you can take to increase its value. Below are five tips to help you sell it at a higher price.
• Repair and Renew:
Before listing a property for sale, it’s crucial to take the time to assess it. Determining whether there are areas that need maintenance to ensure they are functional is essential. This will also help you improve specific details, such as the flooring. While these upgrades may not always be necessary, they can significantly enhance the look of rooms and make them more appealing to potential buyers, especially in areas where aging is more noticeable, such as bathrooms and kitchens.
• Ensure All Services Are Functional:
Whether you previously lived in the house, it was rented, or it has never been occupied, before putting it on the market, make sure all basic services are working without issues, and there are no outstanding debts that might affect their future use. While you can list the property even if it lacks certain utilities, it’s best to offer it with no complications for new occupants. A property with problems will not only be less attractive but will also have a lower value compared to others.
• Optimize Space:
A new trend in real estate is minimalist homes, which arose from increasing demand and limited space. However, this doesn’t mean cramming people into tight spaces; it’s about improving the layout. For example, utilizing corners or the space under stairs to add shelves and cabinets can make a significant difference. This way, you’ll go from offering a cluttered home to one where every inch is maximized. Additionally, smart design can help reduce energy consumption, which is a bonus.
• Bring in Technology:
Another suggestion is to integrate technological tools for the functionality and convenience of the new owner. Examples include digital access doors, security cameras, motion-sensor lights, and air conditioning, among others. Although this may require a significant initial investment, it will allow you to target a luxury market, where you can negotiate a higher price without losing potential buyers.
• Make a Good First Impression:
Lastly, before publishing the listing, ensure the property looks presentable. Beyond necessary repairs or aesthetic upgrades, pay attention to small details. Avoid leaving forgotten items when emptying the house, repaint the walls if needed, and consider things like scratches on windows or unpleasant odors in rooms. Remember, someone will be starting a new life there, so offer them the same quality you would want when forming your own home.
These are the main aspects you should consider before selling your home for better profits. However, as an additional tip, you can research urban developments in the area, such as potential commercial, cultural spaces, or public transport expansions, as these changes within the community can also influence property values. Always consult a professional before making any changes, to avoid setbacks and ensure you achieve your goals successfully.
https://www.inmuebles24.com/noticias/tips/como-aumentar-el-valor-de-tu-casa-antes-de-venderla
https://www.revistaad.es/espacios/articulos/aumentar-valor-casa-vender-consejos
https://www.inmuebles24.com/noticias/sabias-que/cuanto-cuesta-remodelar-una-casa
https://www.flat.mx/elliving/remodelacion-de-casas-plusvalia
https://www.buscandocasa.com.mx/blog/5-factores-que-incrementan-la-plusvalia-de-una-casa