Tips to increase the value of your home

Photo: Tips to increase the value of your homeFrom renovating the kitchen to adding the right kind of lights, there’s a lot you can do to increase your apartment's appeal, says Lakshmi KrupaWhether you are looking to sell an apartment or just living in one, it always helps to have add-ons that will not only enhance your lifestyle but also add to its market value. So plan ahead and make wise moves. Experts opine that it is better to spend a little extra right at the beginning to reap rich benefits later on.Check for seepage"Address seepage issues," says Sumitra Vasudevan, associate, Aprobuild architects. This is among the biggest concerns of potential buyers. "Whether it's because of rains or water from the bathroom or balcony of those living above your home, seepage issues need to taken care of ," she says. This is of more importance because you need to persuade your neighbours to make changes to their home. "If it goes uncheked, water leakage can cause damage to the building's structure too," she says.Let there be lightKeep your apartment well ventilated. Homes that let in a lot of light and air are undoubtedly more appealing than ones that are closed up and seem claustrophobic. “A lot of old apartments have closed kitchens. These days people prefer open kitchens,” says architect Anupama Monhanram of Green Evolution. It would be a good idea to open up your kitchen and maybe even add a few bar stools across a counter, giving it a contemporary look. “You can also add mesh doors above your bedroom doors. It will bring in a lot of light and aid cross ventilation,” Mohanram adds. Add mesh doors to your wardrobe too and let your clothes breathe.Renovate a little“Renovating the house to add better tiles (vitrified tiles are in now ) and the toilets in particular will also go a long way,” Mohanram says. Adding water-saving flush systems in the toilet, creating wet and dry areas and even adding a glass enclosure to the shower can help. But most importantly, make the living space appealing. “Don’t paint the house in any off-beat colours if you are looking to show your apartment to potential buyers,” warns Mohanram. Lakshmi adds, “It’s best to go with off-white or beige for wall colours as these are neutral.”Wire it rightWiring is another important area when it comes to home improvement. “Upgrading all the electrical wiring in your home will certainly add to its value,” says Lakshmi. Adding appliances that save electricity such as star-rated air-conditioners and geysers may also help. “Be sensible about lighting,” Mohanram says, “Most often, if you keep your home ready-to-move-in, its appeal increases.”Consider replacing large tubelights with LEDs or CFLs. "These days even CFLs come in yellow colour. These enhance a room's look while offering long-term savings."Focus on façadeDon’t leave the exteriors of your home out of the equation. A coat of paint on the exterior walls, a little bit of work on the main door and floors, and even some bright lights on the corridor can go a long way in enhancing its image.Furnish thoughtfullyIf you are thinking of leaving behind furniture for your buyer ensure that the house is thoughtfully furnished. “Don’t overcrowd the space and add furniture that is both functional as well aesthetic,” Mohanram says.Buy furniture which will also increase in value over time, such as rosewood and teak cupboards or tables. You can even invest in a good carpet such as hand-made Kashmiris that will gain value over the years.It’s in the woodsAdding woodwork to your apartment will reduce the burden on the next buyer and in turn, increase its appeal. Says Lakshmi, “Since this a one-time investment, those buying the home from you will appreciate not having to spend on woodwork.” Decide on the wood, laminate, etc, based on your budget but choose something that will require low maintenance. Add wardrobes and close all lofts in your bedrooms as well as the kitchen.But spend wisely. While these additions can increase the appeal of your home it may not always be possible to recover all your costs.Source: The Hindu Chennai

                                                                                             Tips to increase the value of your home

From renovating the kitchen to adding the right kind of lights, there’s a lot you can do to increase your apartment’s appeal, says Lakshmi Krupa

Whether you are looking to sell an apartment or just living in one, it always helps to have add-ons that will not only enhance your lifestyle but also add to its market value. So plan ahead and make wise moves. Experts opine that it is better to spend a little extra right at the beginning to reap rich benefits later on.

Check for seepage

“Address seepage issues,” says Sumitra Vasudevan, associate, Aprobuild architects. This is among the biggest concerns of potential buyers. “Whether it’s because of rains or water from the bathroom or balcony of those living above your home, seepage issues need to taken care of ,” she says. This is of more importance because you need to persuade your neighbours to make changes to their home. “If it goes uncheked, water leakage can cause damage to the building’s structure too,” she says.

Let there be light

Keep your apartment well ventilated. Homes that let in a lot of light and air are undoubtedly more appealing than ones that are closed up and seem claustrophobic. “A lot of old apartments have closed kitchens. These days people prefer open kitchens,” says architect Anupama Monhanram of Green Evolution. It would be a good idea to open up your kitchen and maybe even add a few bar stools across a counter, giving it a contemporary look. “You can also add mesh doors above your bedroom doors. It will bring in a lot of light and aid cross ventilation,” Mohanram adds. Add mesh doors to your wardrobe too and let your clothes breathe.

Renovate a little

“Renovating the house to add better tiles (vitrified tiles are in now ) and the toilets in particular will also go a long way,” Mohanram says. Adding water-saving flush systems in the toilet, creating wet and dry areas and even adding a glass enclosure to the shower can help. But most importantly, make the living space appealing. “Don’t paint the house in any off-beat colours if you are looking to show your apartment to potential buyers,” warns Mohanram. Lakshmi adds, “It’s best to go with off-white or beige for wall colours as these are neutral.”

Wire it right

Wiring is another important area when it comes to home improvement. “Upgrading all the electrical wiring in your home will certainly add to its value,” says Lakshmi. Adding appliances that save electricity such as star-rated air-conditioners and geysers may also help. “Be sensible about lighting,” Mohanram says, “Most often, if you keep your home ready-to-move-in, its appeal increases.”

Consider replacing large tubelights with LEDs or CFLs. “These days even CFLs come in yellow colour. These enhance a room’s look while offering long-term savings.”

Focus on façade

Don’t leave the exteriors of your home out of the equation. A coat of paint on the exterior walls, a little bit of work on the main door and floors, and even some bright lights on the corridor can go a long way in enhancing its image.

Furnish thoughtfully

If you are thinking of leaving behind furniture for your buyer ensure that the house is thoughtfully furnished. “Don’t overcrowd the space and add furniture that is both functional as well aesthetic,” Mohanram says.

Buy furniture which will also increase in value over time, such as rosewood and teak cupboards or tables. You can even invest in a good carpet such as hand-made Kashmiris that will gain value over the years.

It’s in the woods

Adding woodwork to your apartment will reduce the burden on the next buyer and in turn, increase its appeal. Says Lakshmi, “Since this a one-time investment, those buying the home from you will appreciate not having to spend on woodwork.” Decide on the wood, laminate, etc, based on your budget but choose something that will require low maintenance. Add wardrobes and close all lofts in your bedrooms as well as the kitchen.

But spend wisely. While these additions can increase the appeal of your home it may not always be possible to recover all your costs.

Source: The Hindu Chennai

Chennai Tenant Information Forms

There has been a trend among anti socials elements and criminals to gather information required by them and settle in Chennai by taking a rental accommodation and carry out their unlawful and criminal activities. People from the extremist’s organization also take rental accommodations to carry out their sinister activities. To avoid this happening in Chennai the Police department has proposed a plan that all the rental occupants should register themselves in the nearest police station. The system has been designed in such a way that is it very extremely simple. People need not fear about this. The house owners who are renting out their property should inform the nearest Police station within 15 days of renting out. As a step towards creating a database of tenants in Chennai, the city police issues tenant information forms to house owners. Completed forms with tenant details, including a passport-sized photograph, should be submitted by owners at police stations within 60 days.  This process has come into effect from December 1st 2013. Other details like rental particulars, duration are not required. All the details will be registered and will be available in the Assistant Commissioners offices. Read more

Why You Should Hire a Property Manager

Why You Should Hire a Property Manager

So you’ve invested in some property and are thinking of handling the property yourself. Are you sure you want to or are ready to do that? Before you shun the idea of hiring and investing in a property manager, here are some of the most valuable reasons for having a property manager take care of your real estate for you.

Current and Up-to-Date      

A real estate manager makes it his business to be up-to-date and current when it comes to landlord and tenant laws as well as state, municipal and federal laws. This way, you are ensured to avoid the hassle and worry of potential lawsuits or scams. Some of the federal laws cover areas such as lease termination, rent collection, lease addendums, inspection, evictions and so forth. Your real estate manager will be fully aware of all these and can discuss these with you, should the need arise.

Liaison Between Tenant and Owner

With much experience under his belt, a well seasoned property manager can easily weed out the problematic applicants from the viable ones. The screening process therefore is left in their hands and you are shielded from possible rental scams that are targeted towards owners. This is also one of the most tedious and time consuming part of handling a property as it involves a lot of interviews, background checks and follow ups. This time saving and headache shielding service is already a great reason for hiring a property manager.

In addition to the property manager handling the screening of potential clients, he will also act as a buffer should there be any tenant and landlord disputes in the future. These disputes may include timely payment of rent, eviction, and maintenance problems.

Keeping the Tenant Happy

If there are problems or concerns with the property, your property manager will be the one approached to handle the issues. He will, of course, bring them up to you for consideration and approval before carrying out any repairs or renovations, but at least you do not need to deal directly with the tenants or with the contractors and repairmen.  All of that is taken cared of for you. And if you keep your tenants happy, the likelihood of them renewing their lease will certainly increase, making you happy as well.

Preventive Maintenance

A good property manager will make sure repairs are done in a timely manner. A great property manager will be proactive and ensure a regular maintenance check is done on the property to address potential problems that could result in bigger and more costly repairs down the road. This ensures that the value of your company does not decrease due to deterioration or lack up upkeep. The way a property is maintained can determine how much you will be able to charge for rent as well as how much insurance you will have to shell out.

More Time for Yourself

As simple as it sounds, not having to deal with so many issues for one property, let alone several, is a strong reason to consider having a professional property manager handle your real estate investments. When you are not saddled with the hassles of listening to a disgruntled tenant or worrying about a trivial lawsuit, you will have less stress in your life. And doesn’t everyone want that?