Monday, 27 November 2017

How much should you spend on renovation and which area should you be focusing on?


Many people think that renovating a home must cost an arm and a leg. Getting a dream home is already an expensive procedure but the cost of renovation should be kept within a reasonable amount in order to ensure that it is in line with the budget. In the past, there are people who had spent hundreds of thousands of dollars hacking walls, adding a certain design feature such as cascading waterfalls and whatnot, believing that all these will enhance their property values.

They had the impression that when they sell their property in the future, they can include all these renovation costs and recoup their spending. Guess what? Valuers do not take into consideration how much you had spent on your home renovation, unless it adds value to your property such as repairing beams and columns, leaking roofs, doing additions and alterations that add space (usually for landed homes) and such. Therefore, all this spending does not mean that the appreciation of the property would be affected. Especially for properties such as condominiums like Grid Residence Iskandar and others in the developing area of Iskandar Malaysia, competition between units would affect the resale value of the property. Having a decent renovation may increase the asking price but renovations are something personal. Not all potential buyers would enjoy the same design as what you might desire.

The rule of thumb when it comes to renovation is not to spend more than 10% of the value of your property. For example, if you had bought a property worth RM200,000, you should not spend more than RM20,000 on renovations. Let’s dive into these simple renovations that will make your home comfortable especially when you are considering to buy Grid Residence where you can customize your own space and layout as you dream of. 

1. Colors

Certain colours are easier on the eyes. From luxury hotels to bespoke residences, top designers and architects in Southeast Asia agree that some color schemes would be better compared to others. Pick neutral colours like black, white, beige and a hint of wood as they speak of luxury and sophistication. Neutral colours are also easy on the eyes and are generally easier to capture the attention of prospective buyer should you intend to sell or rent out your property. Check here out for the color schemes suitable for different types of properties. 

2. Feature wall

This refers to a wall that highlights certain areas of your home, such as where bed or paintings will be. The feature wall should be in a dominant colour to highlight your living space. For instance, if you chose light grey as your living room wall colour, you should opt for dark grey to highlight the area where you have a certain design feature. A feature wall could also have special treatment, such as wallpapers with interesting design, wood panelling, bricks, stones and so on to accentuate that particular space. 

3. Ceilings

To give an illusion of height in your space, your ceiling colour is important. You should opt for white or something a few tones lighter than your walls to accentuate a particular room White or pastel colours immediately have a lifting effect and give an otherwise small room an airy feel. In addition of colours, certain designs could be utilized in order to give a perceived increased in ceiling height. 

4. Indirect lighting

If you want to add dramatic effect or create an illusion of space, you can opt for cornices with indirect lighting. This trick is often employed in hotel lobbies and grand entrances. The cornice is built just slightly below the ceiling with ample space to put the indirect lights. The lights ‘wash’ the top of the ceiling and immediately have a ‘lifting’ effect. It also adds character to an otherwise staid room. This method generates a decent result without costing a bomb to the pocket.

5. Fittings

If possible, go for custom-made cupboards compared to loose cupboards that you buy at a furniture store. This is because custom-made cupboards are made to measure and will not result in wasted space. For example, it can fill up the entire height of your room and take up a certain corner of your bedroom, which will maximise your storage space. In addition, it will not collect dust compared to a stand-alone cupboard.

However, it costs slightly more as it is tailor-made to fit snugly into your space. When planning the location of your fittings, ensure that they do not obstruct a door or passageway. In addition, you should pick a design that is functional and cost efficient. Custom made fittings usually cost a lot more than loose furniture so you should consider the cost difference between them.

6. Space

A well-designed space means the area has good natural light and ventilation, flows from one area to another and takes into consideration the movement space that you will need. In interior design, it places great importance on natural light and ventilation. This is because it gives a ‘feel good’ effect on your sense of well-being and living space.

Before buying a home, it is best to get one that is exposed too plenty of sunlight. You should choose homes in the north-south orientation to avoid the afternoon heat and reduce heat gain in your house. This facing is the most ideal as it is cooling and reduces your utility bills.

4 comments:

  1. Good sharing abam kie . Tak semua aware tentang tips ya g di kongsi ni.

    ReplyDelete
  2. I like investing and renovating properties. Good read

    ReplyDelete
  3. Good sharing and agree with this article.

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