12 Simple and Budget-Friendly Ways to Increase Your Condo Value

Whether you’re getting ready to put your condo for rent in Singapore or just looking for simple ways to add value to your home investment, it’s important to consider upgrades.

As you probably know by now, not all upgrades, renovations, and remodels are created equal — some will offer great returns (sometimes you can even recuperate more than 100% of what you spent) while others will ultimately cost you more money in the long run.

Even on a tight budget, it is possible to make improvements to your condo that will add value and your condo for rent in Singapore will probably yield a better value. Using these inexpensive and easy ways, you can stand out from the competition!

1. Paint, paint, paint
One of the simplest, most cost-effective improvements of all is a fresh coat of paint! Paint keeps your condo looking its best while protecting surfaces from wear, tear, and the elements. If you’re getting ready to rent out your unit, don’t blow thousands repainting every square inch of your property. Instead, focus on the high traffic areas, such as the kitchen and bathrooms.

When selecting paint colours, keep in mind that neutrals appeal to the greatest number of people, making your condo more desirable. On the average, a gallon of paint costs a little over 20 dollars, leaving you plenty of money to buy rollers, painter’s tape, drop cloths and brushes.

2. Add storage
Storage is an important part of your condo’s desirability in the eyes of tenants. So, expanding a closet, adding a closet where one is clearly needed, and remodelling a space that’s awkward (like a reading nook that’s too small for use) are all good ideas that bump up your condo’s value.

3. Give your kitchen a facelift
The kitchen is the heart of your condo and is a big draw card to many tenants. It’s possible to give your dated kitchen a cosmetic facelift on a small budget. Here are a few suggestions:

• Switch out your old knobs or pulls for something more modern or decorative. This can really transform the look of your cabinets, particularly if they’re bland contractor-grade.

• Try adding more storage space with small wire shelves and under-cabinet baskets. These ensure you’re using all the space available in your cabinets.

• Replace the top portion of your worn counter top with a big, handsome cutting board. It’s functional and good-looking!

• Have your cabinet and entry doors realigned and repaired. You can also update the overall look by having the doors repainted. Choose a white or grey shade for this.

• If budget permits, instal patterned tiles for your kitchen backsplash. This will instantly make the area look more appealing.

4. Modify your bathroom
Just like in the kitchen, bathroom upgrades also provide solid returns, but only if you do it right. If you’re working on a limited budget, stick to classic features that will appeal to more tenants or buyers. You can glam up your bathroom with affordable new features such as pull-out shelves to keep necessities in order, glass for that ‘wow’ effect, and accessories like a new shower curtain and matching towels.

5. Let the light in
Outdated light fixtures or poor lighting can take attention away from your condo’s most attractive features. Spending as little as a hundred dollars on new fixtures can give the condo a more modern feel and keep tenants focused on its best attributes. Because lighting is a permanent fixture, it needs to complement the look, feel, style and colour scheme in each space. Also, it needs to match the hardware that you’re using.

6. Replace the doors
Enhance the appearance of the condo by replacing the entry doors. Aside from looking stylish, new doors make your home more energy efficient and leads to more affordable running costs as well as a more environmentally-conscious property, that many tenants are attracted to.

If you can’t afford to replace the whole door, upgrade the hardware. Even that minor change can make your doors look like new. So, if you have flimsy little knobs on your doors, spring for substantial looking handle-and-lock sets. This signals to newcomers that they are renting a solid home.

If your doors are in great shape, give them a good power washing or a nice coat of paint to freshen them. Also, if you’re stuck with basic steel doors, faux-finish them for more eye appeal.

7. Get rid of clutter
Cluttered, over-accessorised spaces can look messy and disorganised, rather than chic and sophisticated. Make the condo look more spacious by getting rid of junky items. Get rid of any battered furniture, decaying knick knacks and paper – or, if you can’t stand to part with anything, throw your stuff in a storage unit until after it is rented out or sold.

Simplified spaces will enable the remaining elements to really shine. Remember that it’s better to show a somewhat barren house than one that’s filled to the brim with clutter.

8. Clean every inch of the condo
You think the condo is clean, but it isn’t. There are little pockets of dirt and grime throughout your place. They only become apparent when tenants come and peer into the cabinetry, or look behind the toilet.

So, before you put up your condo for rent in Singapore, have it professionally scrubbed to make it shine! You can also do it yourself. Clean the walls, toilets, showers, kitchens, cupboards, nooks, cracks and crevices. Next, scrub baseboards, wax floors, paint trim if necessary and Windex the inside and outside of your windows.

Tenants want to feel like the condo is sterile and it is your job to make it look like no one has lived there before.

9. Odours and smells
How the condo smells makes a lasting impression. Imagine a tenant walks into the condo and smell stench. You will be lucky if he still checks your place out. So, ensure the couch is looking and smelling fresh. And that the kitchen does not smell like a microwave oven left unclean for a month. Also, grind some lemon rind into the disposal. Fresh flowers, pretty soaps, candles and other odour devices are also a great investment.

Make it a habit to keep the condo smelling nice to raise its value in the future. You can eliminate kitchen odours by pouring hot salt water down the drain. Try using baking soda and other pet cleaning devices to remove any odd smells from furniture and carpeting.

10. Change out fixtures
One of the most inexpensive ways to make an impression is well-chosen fixtures and fittings. Examples of fixtures that need replacing are:

• Door handles that stick
• Outdated ceiling fixtures
• Toilets that constantly run
• Lighting older than 1990
• Cabinet hardware that has lost its finish
• Mini-blinds with missing slats
• Faucets or tubs that drip

These inexpensive fixes will help update the condo, appeal to potential tenants, and reduce after-the-fact maintenance.

11. Pathway to your unit
If the hallway leading to your unit is messy, cluttered, foul-smelling and in need of paint, work to improve its appearance. Also note if the elevators are in good working order and if the interiors are up to date. Do what you can to improve all the paths that lead to your front door.

12. Exterior maintenance
The appearance of the condo development itself is important to the value of individual units. Clean, attractively landscaped grounds, well-lighted hallways, a well-kept swimming pool and tennis court, security gates and other amenities are all taken into consideration by prospective tenants (or buyers), so be sure that you are maintaining the development’s value.

Renovating your condo will increase its value and make it more appealing to today’s condo tenants and buyers. Even if you’re not putting your condo in Singapore for rent (or sale) right away, new and modern upgrades will make it a nicer place for you to live in. Use these budget-friendly projects as discussed above to add beauty, value and selling appeal to your condo without breaking your bank account.

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