By Kingsley Adegboye

The market value of your house can be greatly enhanced through renovation. Renovation will also greatly increase the beauty of the house in the eyes of the public.

A former chairman of the Lagos State chapter of the Nigerian Institute of Building (NIOB), Mr Kunle Awobodu said renovation in homes is aimed at giving the structure new and inviting look that would attract the attention of to prospective buyers.

Ronavated building

Awobodu who is also and chief executive officer, Reo-Habilis, a firm of building construction, added that before the value can be enhanced, all potential defects in the building must be taken care of. “All these (renovations) are to enhance the value of the property and give new look to it and the environment”, he said.

A simple example of increasing the property value as well as rent ability is adding a garage or car port. Investopedia, a publication on home interior design renovations noted that if the property has the space to add a car shelter and it does not have one, future buyers or tenants will see the added value. When you rent a property you can often recover the cost of the work from a tenant within two years.

“A good renovation of a house is identified by appropriate electrical fixtures in its interiors, better furnishings and right colour blends on the walls, among many other things. The whole concept of renovation is to improve the house such that both its usefulness and comfort level rises. Owners can even witness a value increase of up to 50 per cent on their house if the restoration has been an impressive one.

“Any good renovation must primarily aim at enhancing the appearance of a property. If the restored interiors wear a modern look, then buyers who are usually aware of the newest trends in interior design would be more tempted towards making a purchase.

“It is a good idea to engage the services of an experienced interior design specialist when you plan for the restoration. If complete renovation is not your intention, then the interior designer can recommend certain smart alterations on a few parts of your property that will fulfil the purpose of roping in buyers.

“For example, an interior design specialist can suggest to you some architectural improvements that can be both cost_effective and a feast for the buyer’s eyes. The design on the floor and the colours of the walls can make the room look dazzling and more airy. Suggestions on the edifice and the requirement for reinforcements can also be given by an interior designer.

Being widely experienced, he can recommend you the correct strategy, taking your spending capacity and requirements into account. “With an interior designer at your service, you can also be guaranteed of ready availability of durable refurbishment materials at affordable prices. They know where to procure these materials and appliances from the market at reduced prices. They are also the right people to estimate and predict the duration required for the completion of the make-over project.

“It is also advisable to consult a property broker who can inform you about the current trends in the real estate market with reference to the likes and preferences of buyers. After all, the entire objective of the renovation is to satisfy them to be able to draw a bigger price for the property”, the publication noted.