Most people looking for a property are more likely to choose one that has been refurbished than one that has not, so depending on the state of the property, its location and its characteristics, a market value can be determined.
In general, experts say that renovations can increase the value of a property by 20% for mid-range properties, and up to 65% if it is a well-located luxury property that has undergone a complete renovation.
At Lasose Properties & Investments we tell you which renovations can increase the price of a property.
Some of the most important reforms that will increase the price of a home are:
Completely renovating the bathroom and kitchen.
Buyers value these two rooms the most and are therefore looking for them to be updated. It could be a good idea to swap the bathtub for a shower, change the toilet or the fixtures and fittings if they are too old-fashioned, renew or paint the tiles, as well as to replace the kitchen worktops and switch out the cupboards for more modern and newer versions.
Storage capacity is also very popular with buyers, and taking advantage of the building work to increase storage capacity without taking up space in the room, i.e. with built-in wardrobes, will increase the value of the property.
Changing the floors
Flooring suffers a lot of wear and tear in a home, and together with bathroom and kitchen renovation, it can be one of the best investments to increase the value of a home. Updating the flooring gives the property a completely new and renovated look, and contributes to improving and updating the overall feel of the decor.
Improving the lighting
If it is a small flat, the best thing to do is to improve luminosity by adding glass doors or glass walls that serve to divide rooms whilst still allowing light to pass through.
These are the best renovations to make, although the ideal thing to do is to go to a professional who can help us to get the most out of our home so that we can revalue its price and sell it sooner.