by By Zohaib Azhar, head of operations at smart & green home maintenance specialist, Hitches & Glitches
It is almost 21 years since foreign nationals were allowed to buy properties in the UAE and as such many properties during the initial wave of handovers are now reaching the ripe old age of twenty years.
Upgrades, renovations and retrofitting if carried out by professionals, will undoubtedly increase the value and marketability of a property. Moreover, in many cases, house prices in Dubai for example have risen by over 400% over the past 20 years.
The smallest houses in the Springs development were initially launched at around AED 500,000, the same properties today, improved and well presented, would be on the market for up to two million dirhams. Proving that investing in a well maintained and upgraded property is a sound long term investment strategy.
Furthermore, retrofitting the UAE’s housing stock will be an integral part of the UAE government’s efforts to achieve net zero by 2050. Dubai alone will retrofit 30,000 public buildings by 2030, which will save 1.4 Terawatt hours of electricity, 4.9 billion imperial gallons of water and reduce carbon emissions by one million tonnes.
With many homeowners and tenants now aware of the impact their lifestyle is having on the environment the trending growth in retrofitting older houses will continue unabated, especially as savvy consumers realise that reduced energy and water consumption means lower utility bills as well.
Estimates vary, but in a 2022 UK survey, 39% of homebuyers considered energy efficiency as an important factor in their decision to purchase a particular property. In my own experience, a similar figure would be recorded in the UAE, especially when buyers consider A/C bills over the long hot summer months. On average most homeowners should achieve a return on investment, within 7-8 years.
Exterior
Cracks to exterior coatings, faded paintwork, worn roof tiles and ill-fitting window and door frames, hinges and locks, are some of the more common signs of wear and tear to the exterior of a house.
These issues can be addressed by applying heat reflecting paint, which can reduce indoor temperatures by up to ten degrees Celsius in the summer in addition to protecting the exterior of your home. Windows too can be replaced with low emissivity glass windows that works by reflecting the sun’s rays, or by fitting heat reflective film to your existing windows. Window and door joints and seals can easily be refitted or replaced.
Interior
Indoor air quality became a massive issue during lockdown. By simply addressing ventilation and ensuring that doors and windows are airtight, indoor air quality will be improved and should also eliminate any signs of condensation.
Trends in home décor and layout, particularly in kitchens and bathrooms is a major consideration for homeowners too. The latest eco-friendly white goods have become so advanced that older kitchens often struggle to accommodate them seamlessly, which will invariably necessitate an upgrade, of some description.
Technology
Smart home technology has advanced rapidly over the over the past 20 years in particular and take-up has accelerated in the wake of the pandemic. Today we have a plethora of smart home products, that can be operated through a smartphone such as smart switches and NEST thermostats. Remote controlled RING video doorbells and security cameras are another great way to improve security, especially when you are away from home.
The latest IOT smart valves can identify excess consumption, leaks and breakages and allow the control of water and airflow remotely, as and when needed, without having to physically access them. This also prevents further damage to property, especially if it is left vacant for any length of time.
Investing in a deep renovation or a more substantial energy-efficient retrofit, is money well spent. Not only in terms of direct ROI, increased resale value or rental income, but also in respect of lower ongoing utility costs, a better quality of life and a reduced carbon footprint.