There is a notable difference between putting an apartment up for sale with the renovation to be done and taking the reins and investing yourself before placing it on the market. Increase the sale price and reduce the wait to find a buyer. And something comprehensive is not needed: there are minor changes that weigh a lot. Even without the hassle of works like what they did at apartments for rent in apartments for rent in santa ana ca.
Miguel Ángel Vázquez, deputy director of Donpiso, points out that in a second-hand home that starts at 150,000 euros, with an investment of 40,000 euros in a reform, it does not revalue to 190,000, but goes to 220,000-230,000. “The square meter in a comprehensive reform is around 650 euros. It pays if you can do it,” he says. In addition, 80% of buyers are looking for a house that has already been renovated and "they have a faster exit". This would be for a general reform, but it is not necessary to put so much money to increase the value. Javier Torremocha, director of the UCI rehabilitation and reforms channel, states that a general facelift fixing small damage to floors and walls, painting, can be around 3,000 euros.
If you are looking to limit, kitchen and bathroom are the points that are reviewed the most when buying. An affordable reform of a bathroom starts from 3,000 euros, and in kitchens, from 5,000, details Francisco Morán, CEO of Aquí tu Reforma. "Although it will depend on the square meters and the qualities," he points out. A current trend is that of open kitchens. Pulling down the wall is not expensive, says Torremocha, but it is not usually done alone, without later intervening in the rest. "The kitchen is today an integrated element of socialization." A thorough reform of the stay can cost 12,000 euros, he says. Hence, if the kitchen is very outdated, the reform may not be worth it: "You don't know if you are going to like what you choose...". One way out may be to renovate just cabinets or sink and faucets.
By selling with the reform done, the buyer also wins because he will not need the liquidity to start the reforms, he is assured. "In the mortgage, the bank will appraise the house with the reform, it will go in the loan," says Morán. "There is benefit for seller and buyer."
These figures may seem high if the objective is to sell. “There are works for less than 1,000 euros capable of greatly improving the appearance. They are attractive because of the investment and the increase in value they generate”, responds Carlos Sanz, general director of the Habitissimo portal for professionals. 44% of customers who went to the platform in 2022 spent less than 1,000 euros. With this budget, he sees three major possible interventions. In kitchens and bathrooms, you can paint the tiles for around 280-450 euros. On the floors, in general you can put vinyl for 375-550 euros, with only two days of installation – stabbing the parquet is not cheap, they comment at UCI. And finally, you can install PVC windows for about 1,000 euros on a medium floor, with access to aid programs. “They are affordable for the impact they generate,” he insists.
In addition, they allow you to avoid financing. "In this environment of rising interest rates, interventions with less disbursement become more attractive," summarizes Sanz. Torremocha also highlights changing the bathtub for a shower tray and screen, which should not reach 1,000 euros.
A big concern in recent months was the constant increase in materials – up to 30% – and the wait for the backlog of work. Sources agree that the situation has been improving, with greater stability, but some materials continue to rise, such as ceramics, wood cladding, aluminum cladding or solar panels. "Once it goes up, it doesn't usually go down...", they comment from Donpiso. Nor should we rule out setbacks due to delays or a specific lack of product.
The great alternative can be to forget about major reforms and go to the decoration, furniture and coverings. For between 1,000 and 6,000 euros, depending on how old and big the house is, you can do a home staging. Interventions more linked to design to sell sooner: painting bathroom tiles and countertops, changing skirting boards, faucets and curtains, putting up rugs and flowers, removing furniture and ugly paintings. A staging: "It is not about making the house pass as new, it is about generating a pleasant feeling, presenting the apartment with a better face and avoiding bad impressions," says Gracia Cardona, CEO of the interior design firm Decotherapy. "It takes less time and increases the value by up to 10%."
