select
|

Smart renovations that add value to your home

Whether adding a new room to your house or giving it a new coat of paint, renovations can add huge value to your property.  The entrance, which often sets the tone for the rest of the house, and the state of the kitchen and bathroom, can impact a potential buyer’s decision.
 
“Renovating the inside of your home can add value, but it needs to be functional,” says Vivienne Cox, ooba’s Regional Sales Manager. She goes on to add that revamping the outside can also help sell homes faster. “If you are hoping to make a significant return when selling your home, make sure that the exterior is on par with the rest of the neighbourhood by making minor improvements to create maximum appeal,” she adds.
 
When planning a renovation project, the first step is to check the value of the homes in the area to give you a good feel of your home’s value and how much you should spend on the upgrade.  The last thing you want to do is overinvest or price your home out of the neighbourhood.
 
Furthermore, if you are renovating to sell and apply for a new home loan then Cox recommends that you get prequalified first. Ask a Prequalification Expert to give you an indication of what the bond and registration fees will be.  When selling your home, factor in the costs of obtaining your electrical, beetle and plumbing certificate together with the advance portion you need to pay for your rates clearance certificate from the Municipality.
 
Cox, who recently successfully renovated her own home, provides smart tips on how to make sound financial decisions when renovating your home to increase the resale value:
 
Tip one: Enhance the aesthetic appeal

The most effective way to improve your kitchen is to paint old cupboards or to simply replace the doors and add new modern handles. This will give it an instant facelift.                                                   
 
Tip two: Replace anything that is outdated

Install flattering lighting in your bathroom and replace old or outdated taps, basins and toilet seats. Re-glaze the bathtub to save costs rather than replace it.
 
Tip three: Redo the floors

Replace old carpets with laminated flooring or tiles, this instantly adds a modern spin to your home.
 
Tip four: Use good quality paint

Repaint your home in soft, light and neutral colours to create the illusion of space; this will in turn give the home a well-maintained feel. Also ensure that you use good quality paint to achieve a polished finish. Pay special attention to detail, repaint anything that is looking tired, including gutters, fascia boards, balustrades and gates.
 
Tip five: Invest in your garden

A well-manicured garden won’t necessarily increase the value of your home, but the beauty of a hassle-free, green lawn is attractive to home buyers.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 20 Apr 2018
      Whenever changes in the political ecosystem of a traditional property market create uncertainty, smart investors begin to look elsewhere for new opportunities. Property experts at IP Global have analysed the trends and crunched the numbers to find new markets to explore in Europe and the United States.
    • 20 Apr 2018
      Energy and water self-sufficiency are increasingly important factors in home buyers’ choice of property – especially in Cape Town where the extreme drought of the past few years has made municipal supply costly as well as uncertain.
    • 19 Apr 2018
      During the last decade, rampant development has progressively transformed Cape Town’s property landscape with densification being the order of the day, but there are still one or two hidden gems like Scarborough which have retained their original character, offering an inimitable lifestyle and an attractive investment opportunity.
    • 19 Apr 2018
      The rental market is a cut-throat sector of the real estate market that waits for nobody. According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, first-time renters need to be fully prepared before they even start the process of looking for a place to rent in order to avoid the disappointment of losing out on their ideal property.
    • 19 Apr 2018
      Choosing to buy your first home instead of continuing to rent is a big decision that will usually take some time to put into action, but the sooner you can save up a sizeable deposit, the closer you will be to reaching your goal.
    • 18 Apr 2018
      Selling your home is no small task and as you will quickly find out, there are a lot of misconceptions about the process. Gerhard van der Linde, Seeff's MD in Pretoria East lists the top 5 misconceptions when you are selling your home.
    • 18 Apr 2018
      The Cape Town municipality is now installing water-management devices at properties that have been non-compliant with the new level 5 water restrictions and there are talks of fines between R5,000 and R10,000 for households that use too much water.
    • 17 Apr 2018
      The recent interest rate cut has stoked the coals in the first-time buyer’s market. At least for the next two months until the next interest rate announcement, homeowners are guaranteed lower monthly instalments than in the previous quarter. But, is it wise to take out a 100% bond just to enter the property market while interest rates are low?
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK