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Renovation increases the price of a property!

Renovation increases the price of a property!

Renovation increases the price of a property!

On a frequent basis, MakaanIQ keeps suggesting its readers about various ways of timely and proper renovation. The upkeep of a property always yields higher returns at the time of sale. The renovations that can be brought about in the house are painting the walls, changing the flooring, adding new fixtures to bathrooms, changing the cabinets in kitchen, modernizing the heating and air conditioning systems, constructing an additional room, and much more. The idea of increasing home value through proper renovation techniques is very important in the present time of inflation and soaring property prices.

But what does the first hand experience of sellers say: does timely renovation increase the value of the property portal? Makaan.com researched around the theme and asked the end users whether they agree with its property sites suggestions regarding home renovation and improvements. 50% of the home buyers think that renovation can yield higher returns while selling property; they are also of the view that renovation gives the option of not leaving one’s comfort zone and not changing the home. Therefore, along with increasing the home value, renovation provides freshness.

With the positive intake, in the following article MakaanIQ elaborates on the 4 steps in which renovation can be done as renovation involves meticulous planning and detailing.

Find a contractor: The contractor, whom the home owner hires, should have a good experience. The owner should check the quality and the quantity of the projects that the contractor has previously completed. There should be clarity between the owner and the contractor regarding the budget and time in which the renovation has to be completed.

Plan the outcome: Prior to starting, the contractor should make a blue print of the new look of the house and should provide the estimate of labour and material costs separately. The blue print should be approved by the house owner and all the changes should be made at the outset. A contract should be signed between the contractor and the owner to finalise the deal.

Choose the material: The home owner should constantly take part in shopping for the material mentioned in the plan and get the best available goods in the market. This not only gives the house owner liberty to choose the materials that go into the renovation process but also keeps a check on the quality of the products.

Keep a check: House owner must pay regular visits to the site so that he/she knows the progress of the work. The house owner must see whether the construction is progressing as per the agreed time. Before the final payment is made and possession is taken, the house owner should make sure that the construction is done as per the plan. If not, the contractor must repair it as per the plan.

Last Updated: Tue Oct 29 2013

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