Renovation is, in our opinion, an essential step for anyone who wants to have real estate in their portfolio.
– improve your vision of your property in relation to your own expectations; even if you don’t want to rent or resell it.
– This is THE “anti-wear” guarantee.
– Renovation restores value to your property and allows you to sell or rent more quickly.
– Offers better rental or resale value.
– Brings a smile back to your bank because it allows an upward estimate of your property and leads your bank to grant you larger loans.
– Step into the big leagues. Renowned owners and investors frequently renovate their properties. After the departure of a tenant (3 years), they carry out partial renovations (painting, maintenance or changes of sanitary, electrical supplies, etc.) and every 8-10 years, they carry out major work to ensure a rental value for the increase and thus increase the profitability of their assets. This investment is also reflected in the loan-to-value ratio, ie over time the loan decreases while the property increases in value; which would allow the owner to increase the amount of the loan so the funds released can then be used to buy other properties and so on.
How much will this cost me?
It depends on the work to be done and your choices.
Important costs to consider are architecture and general contractors (contractors and project manager); in Geneva, these can represent up to 15% of the total amount of the project.
A conscientious contracting company will be able to advise you on the most relevant work and which will best suit your budget.
In the end, you know how much you want to spend.
What are the renovation option What kind of work can be expected in a renovation?
Renovation is actually turning a toad into a prince 😉
It can be refreshing an old-fashioned property into something really “trendy”, modernizing it, and incorporating home automation (home automation) for example.
This could be total renovations in all rooms of the house, involving major works or it could be limited to only certain rooms of the house such as just redoing a new kitchen or adding a fireplace in the living room, improvements in terms of decoration, add light effects, install separations, repaint, update electrical installations…
How long should I plan?
It may take a few weeks or several months. It obviously depends on the work you are planning, your budget and your availability.
Renovating can be stressful and time-consuming when not done properly, without careful planning, a clear idea of what needs to be done, a good team on your side, or knowing what materials to use.
Whether you want a simple refresh or start a complete renovation, without the right recipe, it could take you twice as long as expected. And as a result, it will end up costing you a lot more than you budgeted for.
- Because time is money. And that when your property is not rented or sold you lose dividends and/or investment opportunities.
- Because if you want to live there, you will have to readjust or change certain habits that inevitably make you spend more than just the cost of renovation.
How to finance the works?
You can request financing from your bank where you can self-finance it by injecting capital. Difficult decision to make but remember, that in the long term, you will recover a capital gain on your dividends.
We have solutions that will surprise you. Contact us!
What more can Rise Capital bring you in your renovation projects?
We can solve all the points mentioned above.
We put ourselves in your shoes and the first question that comes to mind is “what would we do if it was our good?”
We have a “step by step” approach and plan everything in record time and deliver you a clear, understandable, transparent project with the feasibility of carrying it out.
1. We listen to your expectations and the reasons inherent in your need to renovate, whether for your personal well-being or for commercial reasons.
2. We identify the needs of your property, define the priorities and adapt them by matching them with the wishes you have expressed.
- We study and research what best suits your property, in terms of location, market trends and demands.
- We develop a project and conceptual design to reveal the potential hidden in your property, both for rental and for sale with an upwardly revised evaluation, and guaranteeing a competitive and attractive price.
3. We will show you in advance what your property will look like when completed.
4. After your approval, we present to you the planning envisaged for the work, the deadlines as well as the final costs to be expected.
5. We help you solve the financial aspects.
6. We can help you furnish your property.
7. Finally, and even perhaps most importantly, we take care of renting it better or selling it at a better value.