5 Reno Tricks to Enhance Your BTO’s Resale Worth after MOP, in accordance with a Property Agent

It was revealed by HDB that the proportion of BTO flats offered inside a yr of assembly the minimal occupancy interval (MOP) doubled between 2016 and 2020, from 6.5% to 13.4%. It’s a pattern that appears to proceed, as owners search to improve to personal houses and as delays within the development sector drive up demand for resale flats.

Picture: Ambient Strolling from Pexels

In case you are within the midst of planning your BTO renovations with the mindset to promote your flat after it reaches MOP, we thought it could be useful to learn to enhance your BTO’s resale worth by what a possible purchaser appears out for. And who greatest to grasp how a house purchaser thinks than a property agent?

We spoke with Kenneth Tan, a property agent with ERA, and requested him concerning the significance of house renovation in the case of the resale worth of a MOP BTO.

“There are lots of components in play when figuring out the resale worth of a house, corresponding to location, cardinal instructions, which flooring your unit is at, facilities, variety of items per flooring and even the hall house you might have,” explains Kenneth. “When in involves house renovation, it’s however one facet of it. Normally although, you’ll be able to go for a better asking worth than your estimated valuation if your own home renovation is comparatively new, or has a tremendous inside design.”

With this in thoughts, he shares a couple of ideas in the case of planning in your BTO renovation with the intention to promote after 5 years.

Tip 1: Don’t do an excessive amount of

Doing so much in your house renovation doesn’t essentially translate to a better promoting worth ultimately. It’s extra essential to keep up your own home in good situation within the 5 years, says Kenneth. Not everybody has the identical style or like the identical issues.

Design: Lemonfridge Studio

It’s greatest to stay with a impartial color palette that’s straightforward on the attention and is mostly accepted by most individuals. Scandinavian, Muji and minimalist themes are well-liked and may also help to maintain your renovation price range reasonably priced. “Normally, older people and retirees like clear and easy designs, whereas youthful consumers want to overhaul all the things so don’t do something too difficult that will be tough to take away,” advises Kenneth.

Tip 2: Focus your renovation on the kitchen and the loos

“The kitchen and loos are two areas of the house that consumers will have a tendency to have a look at, as any rectification work might be expensive and a problem,” says Kenneth. As such, focus your BTO renovations in these two areas.

Have a look at performance. Plan for sufficient storage and countertop/vainness house in each of those areas. Within the kitchen, having high quality built-in home equipment which might be maintained nicely can earn you some brownie factors when it comes the time to promote.

Design: Key Concept

When selecting supplies, go for sturdiness and straightforward repairs since you’ll have to be sure that they final and look good for the following 5 years. Quartz is an efficient possibility for counters since they’re stain-resistant, not susceptible to scratches and straightforward to scrub. For tiles, decide ones which might be smoother with fewer grooves and require fewer grout traces. Keep away from supplies like cement screed or marble; the previous cracks and the latter stains.

Tip 3: Keep away from hacking down all of your partitions

Pondering of mixing two bedrooms into one, or pulling down all of the partitions to create one massive open house? Don’t. Open idea could also be fashionable, however most individuals will nonetheless need a degree of privateness.

With earn a living from home, home-based studying set to remain because of the pandemic, privateness is extra essential than ever. Kenneth sheds gentle on this new phenomenon: “Extra consumers are searching for greater items, simply to have an space to earn a living from home.

Design: The Local Inn.terior

“Households in Singapore are on the typical of three.22 individuals, so you’ll suppose they gained’t want all that house. However that further house and by extension privateness retains them sane when everybody’s at house on the similar time.” You could possibly get a better promoting worth when you hold all of your bedrooms intact.

Tip 4: Stick with useful built-ins

Not all built-ins are essentially evil, though it’s possible you’ll wish to reign in on overly elaborate or unconventional ones. These could not sit nicely with potential consumers since they should consider the price of tearing them down if the built-ins don’t catch their fancy.

Design: Linear Space Concepts

Prioritise useful built-ins, particularly storage. Channel your price range to constructing correct kitchen cupboards and wardrobes, that are staples in a house and are typically expensive to switch for a purchaser.

Tip 5: Take note of your flooring

In accordance with Kenneth, one other facet of the house lots of consumers look out for is the flooring and skirting. It is smart, because it’s one of many largest floor areas of the house and it tends to make up an enormous bulk of a renovation price range.

Design: Ascend Designs

Having dearer flooring supplies like marble and timber can often fetch a better promoting worth, however they may must be maintained nicely e.g. no uninteresting spots, scratches or stains and so they aren’t the simplest to repairs. It can thus make extra sense to go for a extra economical flooring possibility like tiles or vinyl.

 

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