With the recent news about several resale HDB flats selling for over a million dollars, you might be wondering if you can sell your resale property above the price you bought it for. Is there a way to increase the property value or minimum resale price, especially if it’s not in a popular location?
When it comes to buying property, the first impression is what matters. Here are some effective ways to increase the value of your resale HDB!
If you are new to the world of HDB’s in Singapore, be sure to read our blogpost that tells you all you need to know!
1. Create Space
In a space-constrained Singapore, many prospecting homeowners are willing to pay higher prices for a HDB flat with a well-thought-out functional living space. Thus, creating as much storage space as possible is one of the easiest ways to increase your resale value. Throw out your old furniture, recycle your books and pack away your furnishings. The more you declutter, the more welcoming your home will be to prospective buyers.
2. Make Use of Lighting
If your home still feels cramped, make use of light to expand the look of your space. Consider installing a set of day and night curtains, like those in hotel rooms. Day curtains, which are composed of sheer fabric, let light in while also creating an inviting atmosphere. Mirrors and reflective surfaces also help to bounce light around the room, doubling the visual space.
3. Clean Up
Your goal is to have the buyer visualise themselves living in the home, not one they will end up cleaning in. No one likes a kitchen that is greasy and covered with dirt. Put in the extra effort to clean up, wiping down your backsplash and walls as well as mopping your floors will make a huge difference. This goes for the rest of the house also, scrubbing the mould and dirt from your bathroom sinks and shower areas will leave your home much more desirable than before.
4. Paint, Paint, Paint!
If your walls have signs of wear and tear, painting all your rooms is an inexpensive way to produce stunning results. Go for a safe colour such as white paint that provides a clean canvas, allowing future buyers to envision how they want to transform the apartment after they acquire it.
5. Incorporate Nature
Not only do indoor plants enhance the overall appearance of a space, but they’ve been shown to boost moods, increase creativity and reduce stress. Homeowners who don’t have the luxury of outdoor spaces can still green their property to boost the appeal. Important areas such as your front door, common area and windows can really benefit from that additional element of nature. If you are worried about the maintenance needed, artificial plants are an easy zero maintenance option!
6. Upgrade the Cabinets
The kitchen and bathroom cabinets are well-known deal breakers for resale property. If they are worn out, consider replacing the cabinet doors and handles for an updated look. Since it is expensive to do a complete overhaul, don’t worry too much about the look and try to keep it functional. Still feeling puzzled? Consider engaging the right Interior Design Company that can advise you according to your needs.
7. Check Your Flooring
The first thing visitors feel when they go for a home-viewing is the flooring. Having damaged and uneven flooring would be additional costs for them, which will definitely impact the negotiated resale price later on. Repair and upgrade your flooring to upkeep the overall look! A great option is to overlay with Vinyl Flooring that is budget-friendly, durable and easy to maintain.
Now that you know the tricks to increasing the resale price of your HDB flat, don’t hesitate to get started!
Additionally, here is a HDB resale price calculator tool for you to estimate your sale proceeds, and see how much of the cash proceeds you might need to use to finance your next purchase.
If you’d like some professional renovation help, our team here at D’Brain Studio can advise you on your renovation doubts, whether big or small. With our one-stop integrated project delivery, you can leave your renovation worries to us!
Looking for creative design inspirations? View our past projects as well.