{"id":18007,"date":"2022-12-01T16:05:28","date_gmt":"2022-12-01T08:05:28","guid":{"rendered":"https:\/\/www.hometrust.sg\/articles\/?p=18007"},"modified":"2023-09-14T10:22:00","modified_gmt":"2023-09-14T02:22:00","slug":"how-to-renovate-your-home-to-increase-your-resale-value","status":"publish","type":"post","link":"https:\/\/www.hometrust.sg\/articles\/how-to-renovate-your-home-to-increase-your-resale-value\/","title":{"rendered":"How To Renovate Your Home To Increase Your Resale Value"},"content":{"rendered":"[spb_text_block animation=”none” animation_delay=”0″ simplified_controls=”yes” custom_css_percentage=”no” padding_vertical=”0″ padding_horizontal=”0″ margin_vertical=”0″ custom_css=”margin-top: 0px;margin-bottom: 0px;” border_size=”0″ border_styling_global=”default” width=”1\/1″ el_position=”first last”]\n

How To Renovate Your Home To Increase Your Resale Value<\/h1>\n[\/spb_text_block] [spb_divider type=”thin” text=”Go to top” top_margin=”0px” bottom_margin=”30px” fullwidth=”no” width=”1\/1″ el_position=”first last”] [spb_row element_name=”Row” wrap_type=”standard-width” row_bg_type=”color” color_row_height=”content-height” bg_type=”cover” parallax_image_height=”content-height” parallax_image_movement=”fixed” parallax_image_speed=”standard” bg_video_loop=”yes” parallax_video_height=”window-height” row_top_style=”none” row_bottom_style=”none” parallax_video_overlay=”none” row_overlay_opacity=”0″ remove_element_spacing=”no” row_col_spacing=”0″ row_col_pos=”default” row_col_equal_heights=”no” row_expanding=”no” row_animation=”none” row_animation_delay=”0″ minimize_row=”no” simplified_controls=”yes” custom_css_percentage=”no” custom_css=”margin-top: 0px;margin-bottom: 0px;” border_styling_global=”default” width=”1\/1″ el_position=”first last”] [spb_text_block animation=”none” animation_delay=”0″ simplified_controls=”yes” custom_css_percentage=”no” padding_vertical=”0″ padding_horizontal=”0″ margin_vertical=”0″ custom_css=”margin-top: 0px;margin-bottom: 0px;” border_size=”0″ border_styling_global=”default” width=”1\/1″ el_position=”first last”]\n

Here in Singapore, it\u2019s a common strategy for homeowners to sell off their homes as soon as they hit their Minimum Occupancy Period (MOP), so that they can earn some profit and upgrade to a better place.<\/p>\n

What has this got to do with renovations? Plenty!<\/p>\n

If you know that you\u2019re selling your home soon, you probably wouldn\u2019t want to sink too much money into renovating it.<\/p>\n

At the same time, you\u2019ll also want to plan your renovations strategically, to increase your resale value if possible.<\/p>\n

Read on to find out more!<\/p>\n

Principles To Keep In Mind When Renovating Your Home<\/h2>\n

If you\u2019re planning to sell your home soon, keep these in mind:<\/p>\n

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  1. Renovations only add value if potential buyers like them<\/li>\n
  2. Overly customised renovations or designs can turn off potential buyers<\/li>\n<\/ol>\n[\/spb_text_block] [spb_image image=”18010″ image_size=”full” frame=”noframe” caption_pos=”below” remove_rounded=”yes” fullwidth=”no” overflow_mode=”none” link_target=”_self” lightbox=”no” intro_animation=”none” animation_delay=”200″ width=”1\/1″ el_position=”first last”][\/spb_image] [spb_text_block animation=”none” animation_delay=”0″ simplified_controls=”yes” custom_css_percentage=”no” padding_vertical=”0″ padding_horizontal=”0″ margin_vertical=”0″ custom_css=”margin-top: 0px;margin-bottom: 0px;” border_size=”0″ border_styling_global=”default” width=”1\/1″ el_position=”first last”]\n

    First and foremost, it\u2019s not a given that a newly renovated home = higher prices.<\/p>\n

    Here\u2019s the thing – renovations only add value to a home if the potential buyers like them, and intend to keep the house as-is.<\/p>\n

    If your renovations aren\u2019t to the taste of a potential buyer, it doesn\u2019t matter how much money you\u2019ve spent on them – it\u2019s basically a sunk cost, and it won\u2019t increase your potential asking price or make the buyer more likely to purchase your home.<\/p>\n

    On the contrary: it may even dissuade potential buyers from purchasing your home! For instance, say your home is heavily customised to your taste, and you\u2019ve hacked down walls, combined rooms, and added plenty of built-ins.<\/p>\n

    If a potential buyer wants to completely re-do the place, it might be simpler (and more cost-effective) for them to purchase an unrenovated property, where they can start from a blank slate.<\/p>\n

    With this in mind, it\u2019s safer to opt for simple, basic renovations, instead of anything that might be subjective or polarizing.<\/p>\n

    Renovations That Will Increase Your Resale Value<\/h2>\n

    Now that you know the main do\u2019s and don’ts of renovating to increase your resale value, here are a few examples of renovations that are likely to boost your value:<\/p>\n[\/spb_text_block] [spb_image image=”18011″ image_size=”full” frame=”noframe” caption_pos=”below” remove_rounded=”yes” fullwidth=”no” overflow_mode=”none” link_target=”_self” lightbox=”no” intro_animation=”none” animation_delay=”200″ width=”1\/1″ el_position=”first last”]\n

    HDB BTO at Northshore Drive ($50,000) by De Style Interior Pte Ltd
    \n<\/a><\/h6>\n[\/spb_image] [spb_text_block animation=”none” animation_delay=”0″ simplified_controls=”yes” custom_css_percentage=”no” padding_vertical=”0″ padding_horizontal=”0″ margin_vertical=”0″ custom_css=”margin-top: 0px;margin-bottom: 0px;” border_size=”0″ border_styling_global=”default” width=”1\/1″ el_position=”first last”]\n