Costa del Sol is one of the top global markets for holiday homes and luxury properties. Sellers should realise that they are competing with new developments, most of which are modern and come with the latest appliances, fixtures and specifications. There are many ways to improve your property to increase its value or to sell it easier and quicker.
1. Focus on “value-for-money”
There are many renovations that considerably increase value without necessarily costing much. These simple improvements can be paired with other cost-free solutions, such as reorganising rooms and removing excess furniture.
The key idea is to give the property a fresh, modern and impersonal look without spending much.
The best cost-effective home improvements are:
- Painting – It is better to use a mate white paint to depersonalise spaces, increase brightness and give a feeling of space. Older properties in Costa del Sol built before the early 2000s have “gotelé” textured walls which should be smoothed to give a modern look, this could be achieved by sanding or applying a specialist coating materials.
- Polishing floors – It is very common for homes in Costa del Sol to have marble flooring due to the warm climate. Many local contractors provide floor polishing services. It is a very cost effective method to make the flooring look new and make your house shine.
- Changing light fixtures - Older properties can look modern by changing light switches and sockets. This is a much cheaper option than rewiring the whole house.
- Decluttering – Removing excess furniture and personal items, as well as tiding-up generally, will make your home more appealing to potential buyers. This applies to interiors, gardens and terraces. There are numerous local charities and second-hand furniture stores in Costa del Sol which can remove excess furniture free of charge.
2. Adding instead of subtracting
When renovating, it is generally not advisable to reduce the number of bedrooms, bathrooms and guest toilets, unless there is an overwhelming architectural reason.
As a general rule, the more rooms a property has, the more desirable and easier to sell it becomes. Most buyers have a minimum bedroom requirement when searching for a property (instead of a maximum), so a reduction of a room type will have an adverse effect on the number of visits and interested buyers.
The same logic applies to separate laundry rooms, garages and so on.
3. Light & space
Reforms should focus on increasing light and space. The most common methods to achieve this include: painting, decluttering and installing new LED lights, as well as implementing white and light colours in the kitchen and bathrooms.
4. Views are very important in Costa del Sol
Costa del Sol offers breath-taking views of the sea and mountains. Unlike other regions, buyers are happy to pay a premium for views. Typical reforms to improve views include enlarging windows, positioning mirrors effectively, clearing obstacles and installing glass curtains/railings.
5. Home office
Many buyers now look for an office space. This is particularly the case in Costa del Sol because many second-home owners to work remotely during their holidays, whilst others even live in Spain full-time and commute to places like London and Gibraltar on a weekly basis. There is a growing sector of professionals, investors and entrepreneurs who work entirely from home. This trend has increased considerably in 2020 because of the Covid-19 pandemic.
In addition to having a separate room or area for a home office, it is also vital to install high-speed internet. This is not a problem in Costa del Sol because high-speed fibre-optic infrastructure reaches most areas.
6. Kitchen renovations
If a kitchen is older than 10 years, it is generally advisable to upgrade it. A cost-effective solution could be to simply lacquer kitchen doors and cabinets, change handles and install LED lights.
If the installation of a new kitchen is required, it is recommended to opt for white and avoid coloured themes. Modern materials like silestone (synthetic quartz) and highlights with other elements like granite or wood also are highly desirable, especially in luxury kitchens.
The cost of a new kitchen should be proportionate to the value of the property. For example, it is not cost effective to install an expensive kitchen in a small holiday apartment, neither to install a basic kitchen in a luxury villa.
Bathrooms should generally be light, modern and bright. Many buyers are now transforming bathtubs to showers, especially because of safety concerns. If a property only has bathtubs, it is advisable to have at least one shower in the house.
If the space is available, adding an extra bathroom or guest toilet is a good way to increase value. Another alternative would be to increase the ensuite bathroom in the master bedroom by having both a shower and bathtub.
8. Avoid expensive reforms that are not noticeable
Unless necessary to safeguard integrity, expensive reforms that are not noticeable should be avoided. These include installing new exterior windows and glass doors, waterproofing terraces, installing high quality glass curtains (unless it is a luxury property), installing top end heating systems, solar panels and so on.
9. Finish it!
If you have a pending reform, such as unfinished basement, it is recommended to finish it before putting your home in the market. It is not necessary to have specific facilities finished (such as a home cinema, wine cellar or gym), but all walls and flooring should be completed. Most buyers are put off by the prospect of purchasing a worksite.
In summary, reforms are a good way to increase your property value; if done correctly, up to 30%. Reformed properties are much quicker and easier to sell as they stand out from the competition.
There are excellent contractors in the region of Costa del Sol, but owners are advised to choose wisely and deal only with reputable companies.
We work with a comprehensive team of builders, decorators and specialist contractors and can supervise reforms to ensure the best results. Moreover, as we are with buyers 365 days a year, we know what improvements will sell your home quicker and with the greatest return on investment.
Before undertaking any reforms, please give us a call and we would be glad to provide input and advice free of charge.