Answers - Real Estate

It is time to sell your home. You take a good hard look and realize that there are a few things you need to

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

do to make your home a showcase. But now you wonder…..what things are the best? You certainly don’t want t

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

fix your home in a way that doesn’t get you any return on your investment. Why waste money, right?

Here a

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

e five things you don’t want to do:

1. Adding high-end appliances to a modest home. Unless you live in an

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

rea where every home on the block has high-end appliances and a granite countertop, don’t add them to yours

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

You will spend a lot of money and see none of it in return. If you need new appliances or countertops, con

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

ider refinishing either or buying nice but less costly versions.

2. Adding hand painted tiles in the bath

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

r kitchen. Sure, they look lovely. And, if you were planning to live there for years, you might want to do

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

hat for your own enjoyment. But adding a hand painted tile reflects YOUR tastes and you are trying to sell

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

he home to others. If they want hand painted tile, they will add it!

3. Adding a central vacuum. These are

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

a great feature. But, once again, only do this if you plan to live there and enjoy it yourself!

4. Replaci

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

g windows with newer models. Windows are very expensive and will not increase the value of your home at all

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

People expect a home to have windows and they don’t expect to pay more for a house just because they have

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

hem!

5. Adding a swimming pool. This is true even if people in your neighborhood do have them. It is true

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

hat a homebuyer likes the idea of a pool, but they are not willing to pay more to get it.

Just be sure tha

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

you check to see if a permit is needed before starting any new project. Many departments require permits,

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

ven for things as simple as changing a dishwasher.

There are other projects that are often part of home st

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

ging, such as replacing old or worn carpeting, painting the walls, refreshing the kitchen with new cabinet

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

r freshly painted cabinet doors, or even putting in a new kitchen floor will give your home added value. Th

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

t is what home staging is all about – adding value so that you can sell your home faster and for more money

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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Answers - Home Staging and Renovations - The 5 Don'ts

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