While showing a property over the weekend, a client remarked how certain properties turned him off.
Herein lies the mistake – many people have the wrong perception that renovating a home has to cost an arm and a leg.
For those of you thinking of doing some minor renovation work or sprucing up your home but want something timeless and cost-effective, here’s a tip: Make simple renovations to ensure everything works.
The rule of thumb when it comes to renovation is not to spend more that 10 per cent of the value of your property. A well-maintained property readily attracts tenants and increases the valuation report of your property. An overtly done interior may be harder to sell as different people have different tastes. In addition, the valuation report generally does not take into consideration how much renovation was factored into your property.
What about colours? In my course of work, I have had the privilege to pick the brains of some of the top designers and architects in South East Asia. From designing luxury hotels to bespoke residences, they all seem to agree certain colours are easier on the eyes.
So go for neutral colours like black, white, beige and a hint of wood as they speak of luxury and sophistication. Neutral colours are also easy on the eyes and are generally easier to capture the attention of a prospective buyer should you have the intention of selling your property. Investors generally tend to shy away from gaudy colours like bright red or purple, unless they are tastefully done.
This article first appeared in Property Report South East Asia.