Home renovation is an excellent way to boost your property’s worth if you want to put it up for sale. According to Architectural Digest, renovating and remodeling one’s home can increase its ROI by 69%. This survey has also shown that with rising property prices and unstable economies in many developing countries, buyers prefer renovated homes to new ones.
You can make various improvements, repairs, and fixes to your Dubai home that will accentuate it. A lot goes into determining the market value and demand of your house. Buyers are attracted to homes with more storage space, fine finishing details, spacious bedrooms, floor fittings, and low maintenance. This article discusses various aspects of your home that you can alter to enhance your living space and home value.
Top 5 Home Renovation Ideas To Increase the Resell Value
The real estate market in Dubai is doing better than in its formative years. This credit goes to major developers like EMAAR, Deyaar, and DAMAC properties. They have given the city an unprecedented makeover in the last few decades. Therefore, residents want to sell off their old homes and buy properties in Dubai’s luxurious villas and townhouses.
However, these houses must also undergo a metamorphosis to attract potential buyers from the market. The following points can help sellers understand how to go about their home renovation process.
Upgrade the Kitchen
The kitchen is one of the most important parts of your home and one that buyers will specifically look into. No matter how well you decorate the rest of the house, the kitchen, in most cases, will decide its fate. Kitchen renovations in Dubai in 2023 can start from AED 150 per sq foot and go up to AED 250.
Moreover, if you want to replace old appliances and outdated pipes with energy-efficient and power-saving gadgets, the price will increase. A modular kitchen with trendy fittings and cabinets can cost between AED 2000 – AED 5500. Furthermore, if specific flooring needs to be altered, then the price may vary with high labor costs. Changing the titles, faucets, countertops, and paint will help attract the buyer’s eyeballs.
Renovate the Bathroom
Right after the kitchen, turn your focus towards the bathroom, which is the next important part of the house. Leaky faucets, worn-out pipes, and outdated sinks can put off a potential buyer. Thus, begin by hiring a professional who can assist in selecting the right layout, design, tiles, and materials.
Renovating the tiles, sanitary ware, and pipe fittings can cost up to AED 15,000. Moreover, a luxurious touch, an aesthetic color scheme, shower heads, toilets, and waterproof fittings can cost up to AED 50,000. Add more storage space and decor to complete the renovation.
Replace the Flooring
When a buyer enters your home, the flooring is the first thing among others that will catch their eyes. You cannot expect the buyer to return if your flooring is old, dirty, and outdated. Thus, if you are serious about reselling your house, take a good look at different flooring options to uplift the overall appeal of the home.
According to sources, hardwood flooring in Dubai costs between AED 200 to AED 400 per sq meter. You can also opt for tile flooring and vinyl plank flooring, which costs AED 80 to AED 250 per sq meter and AED 70 to AED 150 per sq meter, respectively.
Paint Walls Before Listing
According to MaryBeth Harrison, an expert real estate professional from Dallas, repainting the walls automatically attracts more buyers. It will not only amp up your interiors but also lend your house a breath of fresh air. Painting your Dubai may cost between AED 1,000 to AED 5,000. The price range can go up depending on the quality of paint you use.
Moreover, real estate experts suggest staying away from fancy, bright colors with trendy designs and patterns. Furthermore, this discourages prospective buyers from indulging in your property as they cannot picture themselves there. Therefore, avoiding too much personalization and keeping the colors to a simple Beige and Off White is beneficial.
Get Energy-Efficient Appliances
UAE has developed tremendously in the past few decades and has become a thriving business, tourism, and real estate hub. And with that, it has also increased its carbon footprint leading to the government taking steps towards an environment-friendly setup. Therefore, getting energy-efficient appliances will automatically increase your home’s worth.
You can install energy-saving dishwashers, air conditioners, refrigerators, and lighting to reduce their effect on the bill. All of this can come up to AED 2,000 to AED 5,000 and can go up if you select premium brands and features. Additionally, to make homes more relaxed, you can replace old window panes with double panes.
What is the Cost of Home Renovation in Dubai?
Depending on the purpose of your home renovation, the cost will vary from home to home. If you want to renovate your house to upgrade your lifestyle, it is more likely that your renovation will require premium and luxurious fittings and appliances from big brands. On the contrary, if the purpose of your renovation is to put the house on sale, then the cost will come down.
In that case, you can choose mid-range products and furnishings. According to experts, the cost of renovating your Dubai home can start from AED 70,000 and can go up to AED 400,000. Therefore, you have to determine your budget and check for financing options.
How Long Does Home Renovation Take in Dubai?
Your home renovation can take a month to a year depending on the repairs and fixes. The best way to determine the time is to get a contractor on board who can give an accurate estimate. If the renovation is minor and is limited to basic home decor, it will be over in a couple of weeks.
Top Luxury Property: Giving the best Value to Your Home
After the renovation and remodeling of your home is complete, it’s time to find a suitable buyer and get a fair deal. However, navigating the real estate market in Dubai is somewhat tricky. Top Luxury Property can help list your property so there is no shortage of buyers. Moreover, you can also check the price range in which other properties similar to yours are quoting.