Whether you are seeking to improve an apartment complex to sell in a tough economy or to entice renters in a competitive market, there are a number of key improvements you can make to increase the value of your leedon green Singapore property. If the complex was built before the 1990s, it is very likely that the building and interiors look a little dated. Evaluate what design improvements you can implement to modernize the look of the apartment complex and the units. Then, assess the property amenities and determine what enhancements can be made to increase the appeal of the property.
If the buildings haven’t been painted in over five years, then it is long past time to do so. A fresh coat of exterior paint always serves to liven up a property and improve curb appeal. This is a good time to consider the color scheme as well. If the buildings are awash in muddy browns or pink stucco, a different color scheme could be a welcome change.
Kitchens and Bathrooms
If the counters and cabinets in the apartment kitchens and bathrooms haven’t been updated since the 1980s, it is very probably time for a design overhaul. However, if counters and cabinetry are classically appealing, updating simple design elements like cabinet knobs and light fixtures could really modernize the look of the unit.
Gone are the days of the neutral vinyl flooring that probably lined the kitchen of every household across the nation. Vinyl flooring now comes in an array of patterns that mimic more expensive flooring like wood or even granite. For apartment complexes that cater to a higher income bracket, laminate flooring may be an option.
Yes, it’s trendy, but it’s also good for your pocketbook. If the water utility bill is incorporated into the rent, outfitting the apartment units with low-flow toilets and showerheads could see hundreds of dollars worth of savings annually in smaller apartment complexes and thousands in larger properties. You can take it a step further by installing solar panels to power lights in the carports and pathways.
Re-asphalt and Assess Parking
Aside from a fresh paint job, nothing really rejuvenates a property’s look like clean black asphalt. This also gives you an opportunity to assess the parking options. Can new parking lines be drawn that would be more advantageous to the residents? Are the current parking stalls too small or too big? Do they utilize space in the best manner? Would building carports be reasonable? Parking in apartment complexes is often at a premium so any improvements you can make in this area would definitely increase the property value.
Particularly true for older apartment complexes, storage is an issue for apartment renters. Can the patios or balconies be redesigned to accommodate an outside storage area? Are there carports where storage lockers can be installed? Any complex that offers storage options has a decided advantage in winning tenants.
With more families renting in the midst of the current housing crisis, family-friendly apartment complexes become more appealing. If there are any open spaces, consider installing a tot lot. With new types of ground cover like rubber safety tiles, maintenance is minimal.
Flowers are beautiful and add a splash of color to an apartment complex. However, few properties take the area’s climate into consideration when designing the landscape. Consult with a professional landscape designer to determine whether or not the plants you are using are best suited to the area. Changing a few plants may save you in water and maintenance costs.
Upgrade Community Areas
The trend in the last few years is to create a community atmosphere in the newer apartment complexes. While it is impractical for smaller, older apartment complexes to invite a Starbucks to open a business on the property, there may be other options to enhance a community atmosphere. What improvements to implement would largely depend on the area demographic: picnic tables in a green belt area for those with a large concentration of families; a small community library and reading room for an apartment complex near a college or university; or a business center for those properties near major business districts.
Redesign the Front Office
The first view of the interior most potential residents and property buyers have is the front office. And first impressions tend to last! If the carpets are worn and the chairs in the waiting area lumpy, it’s time to refurbish the front office.
Today’s renter is increasingly discerning about where they live. No longer do they see an apartment as merely a roof above their heads, but a place that they can call home.