If you have been in Ubud in the last couple of weeks and have past our main office (the one near Arjuna Statue) you will have seen it: Ubud Property was under construction! The front had been completely taken out, no windows, no doors. Everything was open, dusty, and looked like it would never look presentable again.  A couple of days later, when the new and bright windows, solid doors, new paint and door knobs were installed, the office had the new and fresh look we were hoping for. It was time to renovate, not only because it was time for necessary maintenance work, but also because we feel like it is an investment in our image and branding. How does one know if this feeling was right?

That is what happens when you renovate: it starts with a dream, a vision. It ‘just’ seems possible and logical and then you take the necessary action to make it so.  Inspired by people who have turned it into a livelihood: finding old and broken stuff, only to take it apart and build it up to something more beautiful than it originally was. Other people love buying old, abandoned and semi-collapsed houses, and renovating it, and sell it for about 3-4x times the price they bought it. And then there is another group of people that buys a nice, complete house, and decides to renovate a bathroom and/or kitchen, because it suits their style better AND they think it will increase the selling price should they want to sell it later. The last group of people gets really disappointed when they don’t get the expected selling price. What usually happens? Well, they have overrated their chances and calculations and frankly haven’t made a renovation that was equal to an investment.

How do you know whether a renovation is a good investment?

Well, our experience, statistics and research shows that…

-when renovating a house, the basics are the most important. If you have a leaking roof, or broken drains, people will not likely be very interested in your house- not even when you have a beautiful kitchen and/or bathroom. Make sure the basics are fixed and solid!

-you really need to consider the value you will receive from the project of renewal over any cost recovery that may be available from sale. Research local real estate guides to determine which projects are most likely to pay for themselves. In Bali, new home owners love a pool! Adding this to your villa project will dramatically increase the total worth of your property.

-it pays to look at the area and its landscape, creating a unique garden atmosphere in a semi- concrete area will increase your worth like nobody’s business. Integrate beautiful architectural touches in your renewed living area (like adding a Javanese style ceiling) will give your villa the uniqueness and cozy atmosphere buyers might like. Be careful not to go overboard with wanting to be unique: if your house is too one of a kind it might be difficult to appeal to the general buyer’s market.

-it’s important to remember: bigger isn’t always better, and spending more doesn’t mean you are adding more value. Do your research, check what are the assets that will and what won’t add to the total sum. For example, buying exclusive door knobs can give the villa the luxurious feel you are looking for, but that 1 expensive plant might not. Think and choose wisely. Ask your local real estate agent what the most asked for assets are and that can help you make a considered decision.