• Food
  • Family
  • Beauty & Health
  • Style
  • Great Women
  • Events/Win
  • Best Beauty Buys 2023
  • Food
    • Eating Out
    • Cooking Tips
    • Festive Food
    • Asian Recipes
    • Food
    • Celebrity Recipes
    • Dessert Recipes
    • Healthy Recipes
    • Quick & Easy Recipes
    • Western Recipes
  • Family
    • Family
    • Save Money
    • Parenting
    • Sex & Marriage
    • Travel
  • Beauty & Health
    • Beauty & Health
    • Skincare
    • Makeup
    • Hair
    • Awards
    • Diet & Nutrition
    • Fitness
    • Wellness
  • Style
  • Great Women
    • Career
    • Great Women of Our Time
    • Real Life
  • Entertainment
  • EVENTS/WIN
  • #SchoolForLife
  • Hair Awards
  • Great Escape
  • Explore Singapore
  • Also available at:
Privacy Menu
SPH Media

Copyright © 2023 SPH Media Limited. Co. Regn. No. 202120748H. All rights reserved.

  • Food
  • Family
  • Beauty & Health
  • Style
  • Great Women
  • Events/Win

Family

Expert Tips To Boost The Value Of Your Resale Flat

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Family

Expert Tips To Boost The Value Of Your Resale Flat

November 8, 2018

In recent months, HDB flat resale values have remained sluggish. Whether this is caused by fears of 99-year leases ending or by cooling measures, it is not a great sign for homeowners. Because these homeowners can’t affect the market’s trends or make their neighbourhood trendy overnight, we wondered how these individuals could actually boost the value of their homes. 

Expert Tips To Boost The Value Of Your HDB Flat

READ MORE:
12 Singapore Homes You Won’t Believe Are HDB Flats
Broke The Budget For Your Home Renovation? Here’s How To Fix It!
Home Renovation Ideas To Make Your HDB Flat Look More Expensive

Here, we examine three different ways that you can increase the value of your home, ranging from expensive to more affordable options.

https://www.womensweekly.com.sg/gallery/family/expert-tips-boost-value-resale-flat/
Expert Tips To Boost The Value Of Your Resale Flat
Clean it up
image

Make your home as presentable to potential buyers as possible. Real estate experts agree that clean homes sell quicker and may even sell for a higher prices.

In order to make sure that your home is ready to be seen by potential buyers, consider thoroughly cleaning your flat or even hiring a cleaning service. We found that the average cleaning service costs about S$117 for a one-time cleaning, although pricing varies depending on the size of your home and the scope of the cleaning service.

While cleaning may seem like an annoying task and cleaning services aren’t cheap, the small investment of making your home look as good as possible can make a big difference in terms of getting the maximum value for your sale.

READ MORE: 18 Last-Minute Speed Cleaning Tips And Kitchen Hacks For A Spotless Home

Purchase energy-efficient appliances
image

Having energy efficient appliances can make your home more appealing to prospective buyers. Beyond the visual appeal of purchasing new appliances, purchasing energy efficient air conditioners or refrigerators can offer significant cost savings over time.

For example, while energy efficient air conditioners cost approximately S$600 (or 19%) more than average air conditioners and energy efficient refrigerators cost about S$200 (or 18 per cent) more than average refrigerators, these energy efficient appliances “pay for themselves” over a few years due to their lower energy costs.

Therefore, if you don’t have enough money saved to pay for a full apartment renovation, you could purchase new, energy efficient appliances in order to make your apartment more desirable and ultimately increase its value.

READ MORE: Domestic Diva Awards 2018: The Best Kitchen Appliances For Fuss-Free Cooking

Got a bit more budget? Hire an interior designer
image

If you feel that your home needs a complete redesign and you have the funds to make a big investment, you may want to hire an interior designer. For those with a large renovation budget, an interior designer can help with everything from selecting materials to hiring contractors, to planning and seeing the renovation through from start to finish.

These projects often include services such as masonry, plumbing and ceiling and carpentry work. On average, interior design projects cost S$34,000 and S$44,000 for new HDB flats and between S$42,000 and S$62,000 for resale flats, which typically require more renovation work due to deterioration and damage. While these ranges may be too expensive for many homeowners, our research also indicates that smaller scale design projects can cost S$11,000 to S$15,000 for HDB flats.

For homeowners that desperately want to hire an interior designer, but do not have the funds to pay for this service, there are financing options available. Typically, individuals consider personal loans or renovation loans in order to finance their home renovation. We recommend that homeowners choose renovation loans for this purpose, as these loans generally charge lower interest rates than personal loans. We also strongly suggest that you compare renovation loan interest rates before you decide to borrow.

Finally, it is important to consider the total interest cost, or cost of borrowing, as as part of cost of your renovation project. For example, even renovation loans with the best interest rates can cost several thousand dollars for a full home renovation.

READ MORE: Stylish HDB Flats And Condos With Renovations Below $30,000

Parting Thoughts: Stick to an Affordable Plan
image

It is impossible to transform your neighbourhood or to literally double the size of your HDB flat. However, HDB homeowners do have options when it comes to maximising their home’s value. We suggest that you carefully consider these options with a firm budget in mind.

In particular, it is important to find choose an option that you can afford. For example, it is unwise to take on additional debt unless your home truly requires significant renovations. On the other hand, even small investments in your home can help you get the best price when it is time to sell.

READ MORE:
Everything You Need To Know About The November BTO Launch 2018
The Average Price Of A 4-Room HDB Flat, Ranked By Neighbourhood
Easy Ways You Can Make An HDB Room Look Bigger

Text: William Hofman
Photos: Unsplash

This post first appeared on Value Champion. 

  • TAGS:
  • BTO
  • flat
  • HDB
  • home advice
  • resale flat
  • singapore homes
SHARE THIS ON

What’s Hot

Family

18 Kid-Friendly Staycations In Singapore...

Family

How To Address Family Members In Mandari...

Family

Chinese Zodiac Forecast For The Year Of ...

Family

10 CNY Traditions That Are Disappearing

Family

Witty Comebacks For Nosey Questions At CNY

Family

15 Chinese New Year Superstitions And Taboos

Family

18 Family-Friendly Activities In Singapo...

Family

"My Child's Privacy Is More Important Th...

Family

Spring Cleaning 2023: Vacuum Cleaner Dea...

Family

The Best New Resorts In Southeast Asia T...

Family

How To Review Your Financial Goals For A...

Family

5 Ways To Reduce Your Income Tax In Sing...

Don’t Miss These
  • Hair Fight Frizz And Dry Ends: 3 Easy Tips To Keep Coloured Ha...
Editor’s Picks
  • Save Money 10 Things To Know About Giving And Receiving Ang Bao This CNY
  • Home Ideas 14 Kid-Friendly DIY Decorations To Make For CNY
  • Fashion 15 Best Places To Get Matching "Bunny" Outfits For The Family This CNY
  • Fashion Local Celebs & Personalities With The Cutest CNY Family Outfits
  • Entertainment All The Celebs Expecting Babies In 2023
  • Family 18 Kid-Friendly Staycations In Singapore The Whole Family Will Love
Don't Miss Out Ever Again!
Tips & tricks to stay sane + win invites to our events!

By signing up, you indicate that you have read and agreed with our Privacy Statement
Footer Menu
  • About Us
  • Contact
  • Conditions of Access
  • PDPA
  • Privacy Policy
?>">
SPH Magazine

Copyright © 2023 SPH Media Limited. Co. Regn. No. 202120748H. All rights reserved.