Buying an apartment in Mumbai to later sell it is an amazing investment plan. Houses in Mumbai generate high rent and yield even greater resale value. However, if you have lived in the same house for some time or have rented it out for a few years, the appeal of the house goes down. Even though you will be making a profit, the potential ROI is much higher if the house looks as good as new.

Hence, to help you with this problem, we have compiled a list of ten essential home renovation tips for resale value appreciation. But before you begin your renovation, there are certain things that you need to check.

A] What To Check When Renovating Your Home

• Government And Society Policies: You may need certain government permits and society NOC to renovate your home; especially if you want to incorporate structural changes. There might be certain government and society policies for adding additional structures like balconies or remodelling the drainage systems.
• Potential Expense: Home renovation expenses can vary depending on the scale, materials, and labour involved. Before you begin your renovation project, create a budget and consider the potential return on investment. This will give you a clear idea of how much money you should put in.

B] Essential Home Renovation Checklist

1. Fresh Coat of Paint

A fresh coat of paint is the most effective, efficient, and affordable home renovation technique to improve the appearance of your home. A freshly painted house looks almost new, appears cleaner, and masks any other problems to an extent. This always translates to more value while reselling. While choosing the paint, make sure to choose one of decent quality that repels dirt and dust and is water resistant. The colour should not be too bright or too dull. Choose neutral colours that appeal to the maximum number of potential buyers.

2. Kitchen renovations

Kitchen remodelling always spells money. A newly renovated kitchen makes the place look lively and homely. The choice of granite and cabinets can also help to give a certain feel to the kitchen. You can make the house look old-school aesthetic or ultra-modern. However, you don’t need to build everything from scratch. Start with replacing old tiles, sinks, and faucets. Even small kitchen renovations can vastly improve the value.

3. Bathroom Remodelling

Similar to the kitchen, even small bathroom updates can immensely boost the value of your home. Once the house has been lived in, the bathroom loses its new charm the fastest due to the constant flowing water, soap, and other products. Replace the rusted taps and shower heads with new ones, ensure the tiles are clean and hygienic and there is no damp damage. You could also install a new showerhead and bathtub to attract clients looking for an urban dwelling. This is also the right time to take care of any leaks and piping faults.

4. Invest In Energy Efficient Solutions

Making the place energy-efficient helps to make the place more desirable. According to studies, EPC (Energy Performance Certificate) ratings of the properties influence its value. The place not only becomes eco-friendly but also helps to reduce energy costs for those who live there. You need to access the most energy-consuming areas in the house and install an eco-friendly alternative. For example, you can install solar-powered applications or install a window that maximises natural light inflow.

5. Declutter and Clean

If you are planning to sell the place full or partially furnished or if you are currently residing in the apartment, you have to ensure the apartment does not look cluttered and unhygienic. Making the place look clean, and decluttering helps to enhance its area. A potential buyer will also feel confident to buy a place that is well-maintained. Throw away anything that you don’t need and organise the rest in shelves and closets.

6. Add A Touch Of Nature

A low-maintenance balcony garden can enhance the house’s aesthetics. Start planting colourful and exotic plants like Rio and Snake Plants. Have plants that do not need much maintenance and can survive in the local climate. Adding small hanging pots on the balcony grill also makes the house look pretty from the building compound. A house with plants looks more attractive and attracts more potential buyers.

7. Focus On Improving Air Quality

Improving indoor air quality helps to make the place look well-maintained. Invest in an air filtration system to keep the air clean and safe to breathe. This may not seem as important but potential buyers will notice the dust and contaminants in the air. Air-borne allergens may irritate buyers with sensitive noses. Investing in a quality air filtration system and anti-allergen wall paint is a cost-effective home improvement idea.

8. Flooring And Carpeting

Next, take a look at the flooring and carpeting. If the floor is made of wood, make sure the material is not faded and splintered. Apartments in Mumbai often have tiles, so this is not a big problem. However, if you have carpets lined on the floor, make sure they are clean and dust-free before buyers come to inspect the house.

9. Increase Visual Space

You can make the house look bigger than it is with some small changes. A bigger-looking house can be sold for a higher price. Place the furniture optimally to utilise the entirety of the remaining place. Replace heavy drapes and bulky shutters with lighter ones. Redesigning the interiors to have a minimalistic design helps to make the space look bigger.

10. Create Storage Space In Spare Areas

If you have an unused area of the house, like the space between a column and a wall, you could turn it into a storage area. Storage spaces are hard to come by in apartments in Mumbai; hence, creating small closets can raise the appeal of the house.

Conclusion

If you are looking to sell an apartment, making some changes before listing it can help to raise the resale value. However, you need to consider the cost you will incur to renovate your home and ensure everything is done through legal means. To make your house look more appealing to buyers, you can start simply by applying a fresh coat of paint, remodelling the bathroom and kitchen, and cleaning the place. Adding plants and a closet and improving the flooring also helps to make the place look aesthetically pleasing. You can also improve the visual space of the area by optimising the furniture’s positioning.

If you are looking to buy an apartment in Mumbai as an investment, get in touch with Harsh Group today! We are reputed and top real estate builders In Mumbai.