At B&P we receive approximately 30 clients per week, 52 weeks of the year. From this volume of
clients we get a clear understanding of their wants and likes. These range from current fashions to standard features.
So what are these current trends and, if your property does not have them, what should you do?
The obvious ones are the same the world over. Modern stylish kitchens, smart bathrooms, good
showers and easy to take care of gardens.
Whilst most of these features are becoming standard in many of the new apartments coming to the
market, many of the older properties are still furnished in the dark solid wood fittings. Not only in the kitchens but throughout the properties including wardrobe doors and even main doors on the rooms. This style is one of the recent past where clients were looking for traditional Portuguese features. Be it the dark wood, the garish tiles or the old style extractor hoods, these are now seen as passe and the modern buyer looks at these properties with an additional bill to change if they buy the property.
Remember that following a 5 year recession the average buyer has changed by around 10 years. What I mean by this is the current buyer is around 45-55 years of age. We have almost lost a generation of buyers due to the crisis and the new buyers coming through have a much more
contemporary expectation on their purchase.
Smart modern laminate kitchens have replaced the dark wood or cherry wood finish. Induction hobs are preferred to gas in many cases. And light colours with neutral decor is a must for almost all clients these days.
So what do you do if your property is looking outdated or in need of a freshen-up? It will most
certainly have an effect on the time it takes to sell your property as well as the price you achieve. Many clients would neither want nor know where to start in refurbishing the property and tend to look towards a property where this work has been done or otherwise look at a new property. Just look at how all the new projects are selling out even before construction is complete.
Therefore you have three choices. One, you make the changes prior to selling and add to the price. You will certainly make the property more appealing but you need to take advice from your agent as the final price may not exceed your investment. Secondly, reduce the price to include the refurb cost or inform your agent that you would be negotiable based on your understanding that the property is looking dated. Or finally, do nothing and hope someone loves the property as you did when you bought it. This option could lead to a long wait.
In either event, speak with a professional agent and they can give you some sound advice. If you would like to discuss this subject in more detail and specifically about your property, either email me on email@example.com or call into the office.