Are You Thinking About Selling Your Home or Investment Property?
Knowing which factors truly influence a property’s value can save you money and help you sell faster. In the latest episode of our podcast Café con INCANTO: Properties with Purpose, we spoke with professional appraiser Carlos Xavier Vélez about smart renovations, pools, solar panels, and the impact of the real estate market in Puerto Rico.
Key Factors to Increase Your Property’s Value
1. Curb Appeal
- First impressions matter: façade, landscaping, and harmony with the neighborhood.
- It’s not enough for the exterior to look good; the interior must match the same level of quality.
2. Renovations That Add Real Value
- Kitchens and bathrooms: should be updated every 10 to 15 years.
- Adding livable square footage usually adds more value than building a pool.
- Avoid “over‑improvement”: upgrading too much may not reflect in the sale price if the neighborhood doesn’t support it.
3. Pools and Terraces: Are They Worth the Investment?
- Their value depends on the market and demand in the area.
- Small “plunge pools” are trending due to their lower maintenance cost.
- You won’t always recover 100% of the investment when selling.
4. Solar Panels and Generators
- They only add value if they are owned by the homeowner and not leased.
- The equipment’s condition, capacity, and maintenance influence the appraisal.
- Traditional generators remain attractive, especially in areas with frequent outages.
5. The Market Decides
- Value doesn’t depend on what you invested, but on what buyers are willing to pay at that moment.
- Buyers evaluate the property as a whole, not as a sum of individual components.
Expert Tips to Prepare Your Property
- Plan your renovation: define your budget and priorities before starting.
- Analyze the neighborhood to avoid over‑investing in improvements that won’t reflect in the sale price.
- Seek professional consultations (appraisers, architects) to maximize your return on investment.
- Verify solar panel contracts if they are leased: only owned systems add value in an appraisal.
Watch the Full Episode
This article is just a preview. In the full episode of Café con Incanto, you’ll find more details and real examples to help you make better decisions as a homeowner or investor.
