Ann Susan Paul | 27 August 2020
To increase home value is to better your chances of closing a fantastic deal at a time when property investors are looking for new opportunities in Dubai. If you are planning to sell your property, here are 5 ways you can improve your home and increase its value in the market.
The number of secondary property transactions has seen a steady increase in the past three months – May, June, and July, according to Data Finder. July saw a total of 1,590 secondary sales transactions in Dubai, which was worth AED3m. The latest figures signal that the market is gradually picking up and the time is ripe for an investment decision.
While property investors are hunting for the best opportunities, homeowners looking to sell in Dubai should think about making the most from the sale of their property.
In this article, we look at 5 ways you can increase home value and reap the best out of your property sale.
1. A clean and clutter-free home
The need to have a clean house and a healthy environment is more than ever before. Apart from that, one of the cheapest and the most effective ways to instantly increase the demand for your property is to thoroughly clean and declutter your home.
Potential buyers will certainly notice the cleanest properties they have viewed. Clean as you are expecting guests for dinner. Make it look orderly and welcoming.
Make sure that you sanitise your often-used areas as well, especially the day before your viewing. If possible, it would be better to have a professional cleaning service to make your house sparkle.
2. A beautiful landscape
The first thing your potential buyers are going to see is the exterior. And first impressions matter. You need not be a pro in gardening, but having a beautiful lawn and a small garden can improve the overall appeal of your property.
Invest in some low-cost flowering plants and line the edges of your house. Ensure that you do not overdo landscaping to increase home value. Visitors could easily notice it. The key is to make the landscape natural, giving the impression that the house is well-maintained.
Since Dubai is an arid land, greenery is more attractive here. If you are not confident about the plants suitable for Dubai’s climate, you might want to hire a professional lawn service company.
3. Bathroom and kitchen upgrade
Consider your bathroom and kitchen the most important rooms that are going to win you the most points. Investing in a good upgrade for your bathrooms and kitchen will certainly pay off later when you negotiate your selling price.
When it comes to your kitchen, you need not spend a large amount on upgrading. Little things can make a great difference. Fix leaky faucets, for example. Make your countertops shine. Tidy up your pantry and show them that you have enough space for storage.
The same applies to your bathrooms. Additionally, focus on creating a calm and soothing ambience. Invest in the flooring. It can make a huge difference to the overall appeal. Keep in mind that hygiene is paramount.
4. Energy-efficient home
Having an energy-efficient home automatically upgrades your property. Especially at a time when remote working is becoming the new normal, homebuyers will certainly find it as a plus point to choose your property.
Energy-efficient upgrades not only increase home value but also gives an impression that your property is easy to maintain. You could consider investing in solar panels. Although it is quite expensive, solar panels are great marketable assets for those looking to improve property value in the long run.
Even if you are not looking at expensive upgrades, you could consider investing in energy-efficient appliances to improve the property’s functionality and convenience. Take steps to lower your utility bills.
5. Mortgage management
Investors are looking for properties that have the highest returns. And having an active mortgage on your property might be off-setting for some. Managing the financial liability is, hence, an important aspect for enhancing property value.
However, it doesn’t mean you have to pay off the entire liability. Try to pay the principal amount or at least a significant part of your mortgage. This means potential buyers will see less financial liability, giving them room for future investments.
If you cannot afford to pay the loan on your property, consult with a professional or your bank to see if you can leverage any offers they have, such as lowering interest rates.
Other Tips to Increase Home Value
Apart from these major points, there are plenty of low-cost home improvement ideas that you can try to increase home value. Considering painting your rooms, if necessary. Make sure that you go for neutral colours, which means it will be easier for homebuyers to customise according to their taste.
Make use of lighting to attract potential buyers. Use natural lighting, wherever possible, to illuminate your rooms. You may also use subtle LED lights to decorate your bedrooms. Remember that the aim is to brighten up your rooms without being too harsh on the eyes.
Let the professionals negotiate
Professional real estate agents know the market value and can help you understand the demand and trends. Hiring a property expert means you will have access to reliable advice from the best in the industry.
When it comes to negotiating the price for your property, it is advisable to let your agent do the talking. They will know exactly what points to focus on to close the best possible deal for your property in Dubai.