One might need to sell an apartment for so many reasons. A new job in a new city, starting over in life in a new city or moving to a new place for business. Whatever the reason might be, you need to sell your apartment. But you are not sure whether you will get a good deal on selling it.
Such cases are unfortunately not very uncommon. Many property owners face issues with reselling their property. According to real estate experts, the property can lose value under some circumstances like a hospital or a crematorium within its vicinity or if a public toilet is built near a particular property.
But property builders in Chennai have some basic guidelines for prospective homebuyers so that they can ensure a good resale value for their property.
Let us take a look at some of the tips and tricks that can help you secure a good price when reselling your apartment.
Hire a Real Estate Agent
Before putting your property up for sale, get a real estate agent. A real estate agent is a licensed professional. He or she has sound knowledge of the real estate sector, knows how to negotiate, and has great contacts. This is an added benefit for homeowners if they want to get a good deal out of the resale. Although an agent needs to be paid a commission for their service, you can negotiate the amount quite easily. Experts strongly suggest this move because a real estate agent has been taught to negotiate which is important when you are trying to resale any property.
Make your Kitchen Compact and Remodel Bathrooms
When you are reselling a property, put yourself in the shoes of a buyer. You would not want to buy a flat that lacks a good kitchen or a functional bathroom. When buying a second-hand property, prospective buyers judge it on the basis of how compact the kitchen is and how it looks. If there isn’t much space for all the modern equipment and needs a lot of renovations to be done, they might give it a hard pass. To achieve a modern look, you can consider investing in a modular kitchen as it makes the space look bigger. With some basic woodwork and fixtures, you can expect a 5 to 15 per cent hike in the price. Similarly, bathrooms too must be remodelled and kept neat and tidy for a good price.
Get the Repair Work Done
Never put your property up for sale without getting the repair works done. According to property builders in Chennai, keeping any repair work pending for the prospective buyer is a bad move. This will only create a bad impression for you and lead to a significant drop in the resale value of your flat. A homebuyer would rather buy a new flat for sale in Mogappair than a resold one. Plumbing, a change of electrical wiring and a leaky tap might cost you around Rs20, 000-Rs.30, 000. But you need to get it done.
Consider Upgrading the Interiors
People mostly spend a good deal of money on beautifying their homes. While hiring an interior designer and spending lakhs might not be necessary to ensure that your flat has good resale value, you can consider getting some basic work done. Disposing unwanted items and broken furniture that occupies space is the first step. Consider getting a fresh coat of paint and a thorough cleaning of the house. Your goal is to make your space look attractive and worth investing in. No one wants to buy a shabby property and bear the extra expenses of getting the basic work done.
Keep Your Documents Ready, Organised and Updated
For properties bought on a loan, the loan papers need to be kept in a good condition. A potential buyer might want to take a look at those when buying the property. Get a no-objection certificate before putting the house on sale. It states that the house is ready to be sold and there are no dues from the seller’s side. You also need to keep a file of all the taxes related to property for a buyer to save the stress of poor documentation in the later stages of a sale.
Look at Your Property From the Perspective Of a Buyer’s
In order to get a good resale value for your apartment, you need to think like a buyer. Before putting your apartment for sale, property builders in Chennai want you to add more resale value to your apartment. Fix all the cracks in the walls and rip out the old tiles on the floor. Instead of mosaic, choose a modern floor tile to give it a sleek look. Paint the old doors and window frames and give them a fresh layer of varnish. Buyers tend to like a house within the first few seconds of touring the property. Pay attention to the entrance and remove any old nameplates on the door. Invest in reasonable pest control to eliminate any underlying issue like termites. Check the security systems and replace any non-functional units. If you are leaving behind any appliances like a refrigerator or an AC, have it checked out and serviced.
To sum up,
A home is closely associated with safety, security and warmth. If your property emulates these basic factors and some more important tips, you can easily claim a good value when reselling it. We hope with the help of this blog, you are now informed about the actions that need to be undertaken before putting your property on sale.