Whether you’re a property investor and want to make your next purchase, or you’re looking to buy your first home, there are plenty of reasons to consider a new build apartment. For first-time buyers and investors alike, apartments are generally cheaper to purchase than houses. New-builds are also likely to encounter fewer maintenance issues, will have better insulation and ventilation, and are prone to attracting a lot of buyers and renters.
One area that leaves buyers and investors stumped, however, is how to boost the value of a property that’s already in good shape. Here are some ideas on ways you can increase the cost of a new build apartment.
One of the most popular ways to boost the value of a property is by redecorating. Even if the new build property is decorated in an attractive style, it can still be worth doing a few touch up’s to make it look as presentable. Re-paint any walls with scuffs or marks, and add new flooring — even if this means keeping the same colors.
If you own a new-build apartment that could do with a complete redecoration, this can be an excellent way to increase the value. Specific color schemes tend to work better when it comes to selling or renting a property. For instance, an analysis revealed that home’s that have been painted in shades like pale blue or grey sell for a higher amount. Correctly when used in rooms like the kitchen, bathroom, and bedroom. Other colors like light taupe may also boost value, while bolder shades like red should be avoided. The popularity of these colors highlights the fact that minimal shadows rank above busier color schemes in properties. The property investment company RW Invest recognise the appeal of a more neutral and minimal color scheme, decorating their buy to let properties in shades like white, beige, and grey.
In terms of flooring, the best option, if you’re considering a redecoration, is hardwood flooring which is regarded as a luxury. In rooms like the bathroom and kitchen, water-resistant laminate is seen as the best choice.
Update The Fixtures And Appliances
Just because you own a new build property, that doesn’t mean that it will have been built with the most high-quality facilities. A good idea could be to replace old, damaged boilers with the newest and most up to date models. Sufficient central heating and plumbing is an essential factor that buyers will look at as they don’t want to deal with expensive maintenance and replacements.
Another area you should focus on is the kitchen, equipping the area with stylish and modern worktops, cupboards, and white goods. Having a new kitchen can add around four percent value to the home and attract new interest. So it’s worth considering if your new build’s kitchen could do with a refresh.
Create An Inviting Outdoor Space
One of the most significant downsides to owning an apartment is the lack of outdoor space. An apartment seldom comes with a private garden. Instead, most apartments either have a communal garden area or a balcony. If your new build apartment does have its private balcony, then it’s definitely worth using this to your advantage.
Properties with outdoor space tend to sell for more significant amounts. Therefore, making the most of your apartment’s balcony and transforming it into an inviting outdoor space is likely to work in your favor. There are lots of different ways to give your gallery a makeover. But some of the most popular options like bringing plants into the area, adding some stylish garden furniture, laying down artificial grass, and hanging accessories like fairy lights. The more that your balcony feels like a place to sit out and relax, the better.