These Expensive Features Might Not Add Value To Your Property
Talking about prerequisites of selling a property, many suggest a well-constructed and well-staged home. But, there are some who go beyond the limits and add expensive features to the property, expecting to fetch a better return on investment when compared to its ordinary counterparts.
Many real estate experts suggest that every new feature you add to your saleable property is viable only when it fetches you thrice of what you have invested in. MakaaniQ lists expensive features that sellers add to their property, but, rarely get the value of the same when selling.
Adding a swimming pool to the property is considered to be a luxury. For a seller who plans to fetch a high price on the property he owns, swimming pool is not the feature to add. An addition which costs you somewhere between Rs 5-10 lakh, depending on the size, may not be well-taken by the buyers. You would raise the price of the property for this feature while a homebuyer would see it as expensive to maintain. Moreover, they would prefer a less priced counterpart in the locality to a home with a feature that they might not need and comes as an additional burden when buying and also, after the purchase.
Technologically advanced fixtures and fittings
A kitchen with new-age appliances and bathrooms equipped with an in-built sauna might sound enticing, but, it is not the choice of many homebuyers. Fancy additions to the kitchen including high-end modular equipment and appliances that make your property expensive can also be a turn off for many homebuyers who are not well-versed with such advanced equipment. On the other hand, adding expensive bathing equipment to the bathroom can also be a bad idea. Many of these fancy additions, not used on a day-to-day basis, become a liability that needs to be maintained rather than becoming useful for the homebuyers.
A well-maintained garden and a highly-landscaped garden are two different things. While the latter has a cost involved, it might turn off the homebuyers, thinking the maintenance that they will have to do on a day-to-day basis. A basic makeover that makes the outdoors look neat and clean is a better prospect. Avoid going overboard by adding fountains, claddings, seating area or fancy pavements to the garden. Also, avoid adding a kitchen garden. Not everyone would want to maintain an addition like that.
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