Guide to increase the value of your home
Your home is most likely the largest investment you will make in your lifetime, so it’s advisable to make the most of this investment by looking for ways in which to increase the value of your property.
Determining which improvements will increase value can be tricky, so here are some tips to guide you:
Avoid these common mistakes
- Don’t overdo it: Before setting a budget for your improvements, establish the average value of homes in your area. If this is around R500 000, you will never see a return on a R1 million kitchen upgrade.
- Don’t cut corners: If you’re planning on making major changes, contract with people who know what they are doing, are reliable and understand the municipal planning processes required. A major project that goes wrong could significantly devalue your home, resulting in structural damage and costly repairs.
- Don’t get too creative: Fashions come and go, so think twice before getting too outlandish.
Remember the necessities
- Maintenance matters: Before considering upgrades, examine your home for any maintenance requirements or damage that needs repairing. Peeling paint, cracked walls, sagging gutters and paving defects can do significant damage to your property value and get worse as time goes by.
- Get a grip on your garden: An unruly garden detracts from the appeal of a property, and weeds allowed to take root will spread quickly and become very difficult to remove.
Low-cost gloss
- Spit and polish: Many elements of a home are often neglected, building up grime and losing their sparkle. Get your scrubbing brush, cleaning materials and polish out to give new life to door handles, light fittings, fencing, interior and exterior decorative features and bathroom and kitchen fixtures.
- A lick of paint: A painting project can be done yourself and the visual impact is certainly worth it. Focus on areas of the home that need work first, such as paint that has started to bubble, peel, splotch, fade or colours that have gone out of fashion.
- Refresh your fixtures: Update fixtures such as door handles and knobs, taps and other bathroom and kitchen fittings, giving your home an upgraded feel at a relatively low cost.
- Light up your life: Take a look at the variety of new fittings available that can enhance the look and feel of your rooms. Be sure to ask about the energy-efficient options, your bank balance will thank you.
-
Enjoy the outdoors: Make the most of your balcony or garden with seating and add a splash of colour with water-wise plants.
Medium priced marvels
- Give cabinets a new look: If you’re dying for a change, but can’t afford to start from scratch, consider changing the doors of your cabinets and cupboards.
- A new feel underfoot: Flooring has to deal with a lot of use and cleaning chemicals and can begin to look really grubby after a few years.
- Step up security: Prevention is better than cure they say, so take a look at the security features of your home including walls, fences, lighting, and burglar bars.
- Automate access: Gate and garage door automation will save time and add convenience to your life while improving security too.
- Get it while it’s hot: You may not be able to fork out for a full solar installation just yet, but installing a solar geyser is not just affordable but could drop your electricity bill by as much as 60%.
- Cool living: Fight the heat with an energy-efficient air conditioning system.
- Make it work: The Covid-19 pandemic has resulted in many people working from home. Create the ideal home office with clean colours, sound insulation, furniture, window coverings and stable internet access.
Go big on your home
- Killer kitchen: As the heart of the home, a full kitchen revamp can do wonders for your quality of life and push up the value of your home. Make sure to choose a style that will age well and consider updating your appliances too.
- Bathroom bliss: Bathrooms are the second most impactful area of the home and are less expensive to upgrade than the kitchen. Adding an en-suite or guest washroom to your home can also make your home more attractive to buyers.
- Space out: Increase the square footage of your home by building up or out to make the most of your property. Make sure to use accredited companies who will ensure the structure of the home remains stable.
- Apartment living: Whether it’s for a family member or you’re thinking of benefiting from rental income, building a garden cottage or flat can be a valuable addition to your property. Remember to find a balance between over-investing and cheap and flimsy.
Related articles: