By Yamalie Rosario
El Inmobiliario
SANTO DOMINGO –Yahaira, a pseudonym, invested hundreds of thousands of pesos in remodeling her property, located in a neighborhood in a sector of the capital city plagued by crime and unreliable public services such as drinking water and electricity. The buildings in her area are also in a state of disrepair.
He decides to move and that's when he realizes that his expenses didn't contribute to the profitability of the property because he couldn't sell it for a higher price than he had projected, but he also couldn't find any potential tenants who would pay more than the average rent in the area.
This is precisely a utopia for many Dominicans, as appraiser Claudia Castillo explained to the newspaper El Inmobiliario , because sometimes the renovations of properties cannot necessarily be compensated at the time of a sale because the area or the general conditions of the property "cannot withstand it".
"Imagine you have a property in the Miraflores area or in the Los Restauradores area, which are two areas that are not so central and you put a first-class finish on it, they are not necessarily going to pay you the fair price for those finishes and materials because the area itself cannot perhaps be compared to areas like Ensanche Piantini or Paraíso, where properties have a higher price," he explained.
In that regard, the real estate business advisor recommended that if property owners wish to resell their property, they should make certain improvements and focus their budget on painting, remodeling bathrooms and kitchens, and if necessary, flooring, but avoid such invasive expenses.
The appraiser, with more than 35 years of experience, also suggested, in the case of individual houses, the renovation of patios and social areas, which could have an impact when selling a property.
"You can remodel an apartment and have it perfect. If the condominium is neglected, it's worthless, and when a building is very poorly maintained, even if your apartment is in excellent condition, it won't make that connection with the client," he analyzed.
He reiterated that the most complex or invasive renovations of buildings that are many years old or are not located in highly profitable areas are ineffective.
