Is your outdated house tiring you with all its piling maintenance tasks? Is your home not suitable for your needs? If your response to these questions is a ‘yes’ you need to consider renovations for your house. Renovating your home is a constructive and beneficial way to customize your house according to your current and future requirements, but is it worth it in terms of pay off at the time of resale? Read further to find out more about how home renovations can attract buyers to your residential property in Dubai and if this investment has a great return.
Buying a New House V/S Renovating the Current House?
Buying a new house in Dubai sounds exciting, especially when you have just moved to Dubai, but the prices of residential properties in Dubai are soaring high; rising mortgage rates further increase the cost of new house.
On the other hand, remodeling the house you own can cost much less than buying a new one. If you have a growing family and need more rooms, you can opt for an extension and hire Renovation Experts to remodel your house/apartment. Renovations can be heavy on the pocket too, but you have a wide margin to play with; you can always decide on a budget first or keep the scope of renovation limited to refrain from splurging.
Renovations can give excellent Return on Investment (ROI)!
As per various researches, renovations can add value to your house by 10%- to 15% of the total worth of your house. Whether you choose to stay in your house and protect your investment, or you want to sell it, renovating and redesigning your home are the answers to increasing the market value of your residential property in Dubai. More and more people are inclining toward renovations as they have a high Return on Investment.
What Increases the Saleability of Your House in Dubai?
For maximum pay off over your investment, it is crucial to emphasize on the factors that make your house more appealing to the buyers. A modern and fresh kitchen, that is mostly the center of the house, is one feature buyers consider before buying any house. Other than that, your HVAC (heating, ventilation and air conditioning) system needs to be in optimal conditions as it influences the everyday life. Adding extra rooms also increases square footage of your property, which in turn adds value to your property. According to our experience, buyers tend to focus on the ceilings and flooring; shabby roofs and dull flooring can really put off a potential buyer. Ideally, you should not spend more than 10% of the value of your house on renovations. A professional renovation company like Renovation Experts can guide you in depth about the features of your house that can be improved to give you great returns on your investment.
High Rental Yields
In Dubai, the population has been growing more than ever. The expats coming to Dubai look for affordable yet functionally practical and visually appealing houses/apartments to look in. Once you have renovated your house, you can rent it out to generate a passive income. Dubai is known for its high rents; the average rental yield in this city if 6-10%.
The Effect of Flourishing Real Estate Industry in Dubai
Dubai is a popular destination for investors to put their money into businesses like real estate and generate more wealth. Thus, the Real estate industry in Dubai is booming and set to experience a massive high time by the end of this year. The property prices are rocketing with every passing day as more international investors continue showing interest in the upcoming projects.
In these circumstances, renovating your house is an opportunity to improve your financial standing. With stunning architectural changes and change in the interior of your home, you can get great value for your property in the already flourishing real estate market of Dubai.
Final Thoughts
Renovations are a step forward in increasing the value of your property in Dubai. Your renovation goals can be easily achieved if you hire a professional company like Renovation Experts to renovate and remodel your house. Our team is always up to date about the market trends and guides you thoroughly about the best options available for you. Reach us out at to schedule an appointment today!
