Tips to improve resale value

Chennai’s secondary sale market or market for resale apartments is witnessing a steady uptick in demand. Home Buyers are willing to explore residential options in the city even though these homes are not brand new. Attributes are lesser cost and inheriting fixed furniture and electrical fixtures. It’s a great opportunity for owners wishing to sell their homes to cash on this demand. However, such properties being offered on a re sale basis must be attractive enough for buyers for their end use or as an investment. Important tips for enhancing the value of your property are as follows:

Repairs and renovations: A lived in home is subject to wear and tear. The seller should ensure that the home looks presentable. Flooring must be polished, leaking taps and closets to be replaced, fresh coat of paint to create a positive impact. Although this may mean spending some money on the property but the price realisation from the sale would more than make up for this nominal expenditure.

Property title report: The seller should consult a lawyer well versed in property documentation to ensure that a title report is prepared and all document copies and originals are put together in an organised manner. This ensures speedy transaction once the buyer and seller agree to move ahead with the sale.

Clear all dues : The seller must ensure that all statutory dues like property tax, water tax etc., and all other payment to the apartment maintenance association, electricity charges are paid up to date and there are no outstanding statutory payments.

Fair and marketable price: The seller must be prudent to research on the marketable price of the property through online tools, consult a goodproperty consultant to arrive at a fair price for the propery. Many a times, a property remains unsold for long as the price expectation is unrealistic.

Advertise: A communication to inform sale of a property is an important means to ensure timely sale. It must contain relevant information and advantages of the location, apart from the physical and social infrastructure in the neighbourhood. This communication could be advertised through print media, online portals and seeking services of a reliable property consultant who is well-versed with property valuations.