Ravi Chandran
If you are selling you home, a nice kitchen and dainty bathrooms may increase your home value
By: Hitesh Khan/
Once a potential homebuyer gets inside you home, one of the rooms he or she will examine most carefully is the kitchen. Because of this, people often consider it a good move to remodel and renovate their kitchens to increase their home value — but they meet with different levels of success.
Two reasons for only ho-hum success for this is that a homeowner may personalise a remodel too much, or go too high-end with it. Installing a huge stove-top grill might be just what a fellow avid carnivore is looking for, but what about a vegetarian or someone who doesn’t like to cook? That person will not be interested in compensating you for the value of that addition.
Some renovations in the kitchen that typically meet with more success include the sink, counter-tops and cabinets. A sparkling new sink and modern cabinet design can really make people take notice. But if areas like your counter-tops or sink are outdated or stained, it can definitely detract from the value of your kitchen.
Think of it this way: People really don’t want constant reminders of past occupants in a home they buy, so if you’ve made any significant marks, you will want to start erasing them pronto to increase your home value.
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While a kitchen remodel can be challenging, and it’s a project you may not be able accomplish on your own. This is because you may not be exactly handy around a hammer or drill, you better call in a professional to get the job done. Getting quality improvements in the kitchen can really add some value to your home; paying for poorly done repairs and renovations will only burn a hole in your wallet.
After the buyers finish their examination of the kitchen, where are they likely headed to next? One of the other crucial rooms that can make or break a home value is the bathroom, so let’s hope they like what they see.
Bathroom renovations and additions can help increase your home value, but going overboard with items like gaudy faucets, and ill-chosen paint can be an easy trap to fall into. Sticking to mainstream and tasteful features will serve you better. If you do plan on moving, but not for several years, understand when that time rolls around, you might want to check out the current bathroom styles to see if yours is still in style or if it needs an updated look to increase your home value. If a gaudy paint was the route you took, you should probably expect it to take away some of the value from your home, unless you already intend on repainting it in preparation for the market.
New flooring can also be a good move, especially if there’s been any damage, but cement screed should generally be avoided, as should vinyl flooring. (This is true for the kitchen as well.) And while linoleum seem to be making a comeback, it’s best to avoid it; many people still cringe when they think of it and the glue that holds it down. Some good options would be marble floors or various type of tiles.
Last but not least, don’t forget to give some thought to the toilet. People can be pretty picky about toilets. As in the kitchen, they aren’t looking for reminders of past owners.
So if you are expecting a potential homebuyer to get inside your home and you’re ready to move, following these suggestions could get you more money for your house. And if you are planning on staying put, you’ll get to enjoy a classic, valuable home.
Do you know enough about how property valuation is done in Singapore?
Knowing how to calculate the property valuation is of paramount importance to a home owner. It can help you determine whether you are overpaying for a home, or whether you have gotten yourself a real bargain. Paying the right price is just one way you can avoid overspending on your property.
Another smart way to avoid overspending on your property is to get the right loan. Getting the right loan can be a much simpler task, but only if you get the right person to it for you. Get in touch with iCompareLoan’s loan consultant to help you get the best loan deal at the right price.
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