Skip to main content

What investment can get house better value

There are certain features that make houses more appealing to buyers. Go for these and enhance your house's value. They won't cost you a bomb either





   HAVE you ever wondered why there is a large variation in prices between two houses? Why an apartment is often considered a cut above the rest and also commands better value and rental returns?


   The location of your home and other factors like the floor that you are in are a given, but there are some features that make homes more appealing to buyers. These features are within your control and can be introduced by investing a small fraction of the house's value. Here are some tips:

CLEAN & SPACIOUS

This is one improvement that costs next to nothing. But a house that is spanking clean and is not cluttered with furniture or other household stuff gives an impression of space and warms the buyer to the property.

KITCHEN & BATHROOM

These two rooms are the ones where you can make investments that have immense utility value. According to experts, if you are not going for anything extravagant, you can expect a 200% return on the investment that your make in upgrading these two rooms.

ADDITIONAL BATHROOM

If you want to sell your house in the near future and have only one bathroom, then you may consider adding a second one. Homebuyers will want enough bathrooms to handle their family size. And you don't have to build an extension onto your house for this; simply use the space that isn't being used in your home. If you could add another room in the available space, there is nothing like that.

BUILT-UP SPACE

Today, a large component of the cost of the house is the cost of the land on which it is built. But buyers tend to focus on the cost per square feet of the built-up area. If you are having an independent house, you could look at creating more usable space. "Additional storage space, laundry space, multifunctional terraces are all great ideas to fetch better value and increase the total built-up area of the house.

CONTEMPORARY SOLUTIONS

Today's customers look for smart homes with innovative solutions, and anything short of their expectations won't be able to fetch a better price. Even if selling or renting is not your goal, then a thoughtfully-renovated house can always be your prized possession.

STRUCTURAL REPAIRS

With time, all buildings go through wear and tear and, therefore, there is a constant need for timely and proper upkeep. Similarly, reinvestment is sometimes required because of the need for upgradation. For instance, new materials are constantly being introduced in the market and replacing old finishes with better options may be the need for keeping up with the times.

WHITE ELEPHANTS

While makeovers definitely boost the value of your abode, there are certain changes that will not only cost you a bomb, but run the risk of putting off potential buyers.


   This can be the gardens, overspending on paints or wallpapers, extravagant kitchens, bathrooms and hot tubs, and swimming pools, among others. The taste of colour and the theme of designs may vary from person to person. Also, gardens and pools are a token of status symbol, but most buyers don't opt for any additional maintenance cost.


   Financial advisors, the world over, suggest to budget 1-2% of the home's purchase price per annum for home repairs and upkeep. In case of remodelling, the budget can go up to 10 to 15% of the home's value, depending on the location of the property. Anything beyond that should be for the sake of your own pleasure and comfort!

VALUE UPGRADE
   
DOS

PAY SPECIAL attention to kitchens and bathrooms

IF YOURS IS a single bathroom house, adding another one will increase appeal

SPREAD YOUR investment across the house

DO KEEP A check on time and cost overruns

ENSURE THAT renovations are in keeping with bye-laws of your local authority

DON'TS

DO NOT spend more than 1-2% of the value on repairs GET TO experimental and go for unusual colours & designs


DO NOT reduce the number of bedrooms DO NOT use wallpaper as it will look like a cover-up DO NOT make investment that are 'high maintenance'

 

Popular posts from this blog

What is Electronic Clearing Service (ECS)?

  As the name suggests, it's an electronic process through which money can be transferred from one bank account to another. According to RBI, this mode is usually used for regular payments and receipts, like distribution of dividend, interest, salary, pension etc. This mode is also used for collection of bills for telephone, electricity, water, various types of taxes, payment of EMIs , investments in mutual funds , payment of insurance premium etc. There are two types of ECS , like most other banking transactions, ECS credit and ECS debit. An ECS credit is used by a bank account holder , usually a large company or an institution for services like payment of dividend, in terest, salary, pension etc. If your mutual fund pays you dividend to your bank account, of all probability it is being paid through ECS credit.ECS debit, on the other hand, is used when a company or an institution is getting money from a large number of people. For example if you are investing in a mutual fund sc...

WEALTH TAX

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300 WEALTH TAX   WHAT CONSTITUTES WEALTH? For wealth tax purposes, "wealth" means property , urban land, car, jewellery , yacht, boat, aircraft and cash in hand in excess of Rs 50,000. CAUTION POINT | Do not think you will have an easy escape from wealth tax by transferring your `wealth' without consideration to your spouse or minor child. Such assets will also be considered as your wealth. HOW TO DETERMINE YOUR TAXABLE WEALTH Add the taxable value of the above assets (computed as per the detailed rules for valuation) owned by you as on March 31 (for FY 2014-15, it will be March 31, 2015). In case you sold your car during the year, it will not be taxable wealth. Deduct loans if any obtained by you to acquire any of the taxable assets from the value of gross tax out for at least 300 days in a...

Equity Savings Fund

Invest Equity Savings Fund Online   The best part about these funds is that they are subject to equity fund taxation and at the same time are structured like MIP like funds . This new category, equity savings funds , offer a little of everything. They allocate money to equities & equity related instruments, and fixed income. They aim to generate returns by diversification. Such funds invest in fixed income and arbitrage to protect the investors from short term volatility and equity for capital gains. The best part of these funds is that they are subject to equity fund taxation and at the same time are structured like MIP funds.   MIP funds however are subject to debt fund taxation. Investors Equity savings funds are suitable for the following: First time investors who seek partial exposure to equity with less volatility and greater stability Investors seeking moderate capital appreciation with relatively lower risk Those wh...

How to Pick Top Performing Mutual Fund Schemes

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300   How to Pick Performing Schemes  Funds that continue to stay in the top grade of performance over longer periods are the ones to bet on, advise investment experts   The mutual fund performance charts of the past few months make for an impressive reading. Funds across all categories boast of stellar returns. Sample this: The mid and small cap category has averaged 77 percent return over the past 12 months, with the best fund delivering a staggering 120 percent. The tax-saving funds also average an impressive 51 percent, including a fund which has soared 92 percent. Many of the table-toppers are funds of proven quality and track record. However, there are also schemes that are not that well-known. Some of these have rarely made it to the performance charts in the past, yet, of late, they bo...

Section 80CCD

Top SIP Funds Online   Income tax deduction under section 80CCD Under Income Tax, TaxPayers have the benefit of claiming several deductions. Out of the deduction avenues, Section 80CCD provides t axpayer deductions against investments made in specific sector s. Under Section 80CCD, an assessee is eligible to claim deductions against the contributions made to the National Pension Scheme or Atal Pension Yojana. Contributions made by an employer to National Pension Scheme are also eligible for deductions under the provisions of Section 80 CCD. In this article, we will take a look at the primary features of this section, the terms and conditions for claiming deductions, the eligibility to claim such deductions, and some of the commonly asked questions in this regard. There are two parts of Section 80CCD. Subsection 1 of this section refers to tax deductions for all assesses who are central government or state government employees, or self-employed or employed by any other employers. In...
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now