{"id":25019,"date":"2023-01-02T11:50:31","date_gmt":"2023-01-02T03:50:31","guid":{"rendered":"https:\/\/www.99.co\/blog\/singapore\/?p=25019"},"modified":"2024-11-21T18:51:47","modified_gmt":"2024-11-21T10:51:47","slug":"should-singapore-homeowners-renovate-before-selling","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/should-singapore-homeowners-renovate-before-selling\/","title":{"rendered":"Should Singapore homeowners renovate before selling?"},"content":{"rendered":"
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Renovation is supposed to be a form of “asset enhancement”. But does that mean you should renovate before selling<\/a> your house?<\/p>\n

Understanding how renovations affect sales<\/h2>\n

The impact of renovations is not the same across all properties. Here are four broad situations to consider.<\/p>\n

The ‘worst house in the best place’ scenario<\/h3>\n

The property is old and run down, but is in a prime area (e.g. District 10, next to the neighbourhood mall, or right next to the MRT station<\/a>).<\/p>\n

\"landed<\/a>
Buyers can be attracted to an old property if it’s in a prime location.<\/figcaption><\/figure>\n

In these situations, buyers are attracted to the property because of its location. There’s to be a less<\/i>\u00a0return on renovation costs<\/a>, as buyers are interested regardless of how pretty (or hideous) the house looks. For example, before it’s sold en bloc for redevelopment, Peace Mansion<\/a> may have appeared old and worn, but the property was highly desirable to many, given its location near Dhoby Ghaut and Little India<\/a>.<\/p>\n

The ‘best house in the worst place’ scenario<\/h3>\n

A reverse of the above. This is when the location is not very desirable, so the property has to be extra nice to make up for it. In these scenarios, renovations can have a better payoff, but you still need to control the spending carefully.<\/p>\n