select
|

Here’s why your home should always be ‘sale-ready’

It may sound unnecessarily pessimistic, but in times of economic upheaval, one of the best precautions homeowners can take against financial disaster is to keep their property in sale-ready condition.
 
That’s the word from Gerhard Kotzé, MD of the RealNet estate agency group, who notes: “Ratings downgrades, slow economic growth and rising prices are bad enough when you are employed, but they can also result in people losing their jobs or getting into so much debt that they can no longer afford their bond repayments and have to try to sell their homes before they get repossessed.
 
“Of course the banks all have “assisted sale” programmes for people who find themselves in this situation, and these can easily be accessed through our realRESCUE service on http://www.realnet.co.za/c/discover-realnet-realrescue/233 but by that stage it is too late for most owners to start thinking about repairs or improvements that could increase the sale value of their property.”
 
And if that is the case, he says, it is likely that they will get less than they had hoped for, while the few who did take the longer view and kept their homes in good condition before they fell behind will find that they sell relatively easily and at a better price.
   
“What is more, homeowners who make a monthly or annual investment in maintenance and upkeep will save money in the long run, even if they have no need or plan to sell. Repairing the damage done to paintwork, ceilings and carpets after a geyser burst, for example, is likely to cost much more than the timely replacement of an ageing geyser, before it bursts.”
 
Similarly, says Kotzé,progressive painting of say, the exterior of the house one year, the interior the next, the garage and outbuildings and the surrounding wall in following years will avoid the major cost of a big paint job all at once. Carried out in stages, it can probably also be paid for from current income rather than savings.
 
“All plumbing and electrical systems should also be regularly checked. Homeowners should scan all visible water pipes for cracks, leaks or severe rusting and repair dripping taps and leaking cisterns. A dose of drain cleaner will usually clear sluggish drains and a visual inspection of the geyser will ensure it is intact and undamaged.”
 
He says that on the electrical side, owners should check the distribution box and fuses for any signs of scorching and check all visible cabling for worn insulation and signs of shorting or exposed wires. “Check the wall plugs and switches, and remove all "temporary" installations with trailing wires and extension cords that could become a fire hazard. Don’t overload plugs and tidy up tangled connections behind TVs, music centres and computers.
 
“Then on the exterior of the house, clearing the gutters should be a regular task. Overflows can damage paint, plaster and brickwork and a blockage can cause the gutter system to collapse. Owners should also check for wind and storm damage to the roof, loose tiles, gaps in the flashing and damage around chimneys.
 
“Tree branches and shrubbery should be kept well clear of telephone and electricity cables, window putty should be checked for damage and window frames and doors should be regularly sanded and painted or varnished.”
 
Kotzé says that if owners can keep to a regular maintenance “schedule”, they will usually find that any repairs needed are small tasks that they can handle themselves and thus make further savings. “However, if outside contractors do need to be called in, it always pays to get competitive quotes, and to check references from previous customers before you give the go-ahead for the work to be done.”


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 22 May 2018
      Extreme weather appears to be the new normal, evident by the volume of insurance-related disputes reaching the industry watchdog’s desk. To avoid a situation in which your insurer refuses to pay up, you should proactively ensure that your home is well-maintained and ready for whatever winter has in store.
    • 22 May 2018
      As the impact of technology on the real estate industry becomes more significant, it is clear that there is a need for an objective look at not only traditional real estate models but also online and other alternative low-commission real estate agencies, to examine what they offer and what their impact might be.
    • 22 May 2018
      According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, dealing with some sort of neighbour dispute is an unavoidable part of life unless, perhaps, you choose to live on a remote small holding for the rest of your life.
    • 22 May 2018
      Buyers feel that they are getting value for money in the Northcliff area without having to compromise on aesthetics and amenities
    • 21 May 2018
      Secure living is one of the growing property trends in South Africa and Nooitgedacht Estate in Stellenbosch certainly ticks the right boxes for buyers who want a secure, exclusive lifestyle in one of the Boland’s most sought-after estates, says Pam Golding Properties.
    • 21 May 2018
      With sectional titles growing in popularity, an increasing amount of homeowners simply do not have the garden space to install a tool shed in their backyard.
    • 18 May 2018
      Home improvements are a great way to add value to your property, but not all of us have bottomless pockets for a full-on renovation. Lucky for us, there are plenty of affordable DIYs that can spruce things up over a free weekend.
    • 18 May 2018
      The need for large office spaces is slowly eroding as more and more employers choose to allow their staff to work remotely. As a result, the home business model has grown in popularity, with many new entrepreneurs choosing to start their business from home rather than in a business district. But, what are the legal implications of operating a business in a residential area?
        
    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