Adding value to your home

“What can I do to increase the value of my home” is one of the most common questions posed to real estate professionals. The answer, however, can be a little more complicated than homeowners expect.

What does value mean to you?

“When it comes to real estate, value can mean different things to different people,” says Klaradyn Stemmet, Sales Partner with Rawson Properties Somerset West. “There’s the objective, market-related value based on sales trends and buyer behaviour, and then there’s the subjective side of things – the value of the lifestyle and luxuries that homeowners enjoy.”

While subjective upgrades based on the current owner’s lifestyle preferences don’t always add notable value to a property’s eventual sales price, Stemmet says that doesn’t mean they can’t be worthwhile.

“If you’re happy in your neighbourhood and simply want a few extra home comforts, doing some upgrades can be very rewarding,” she says. “You may not recoup the full cost of adding that man-cave or jacuzzi when you sell, but the happy memories you’ll have using them in years to come are often well worth the financial outlay.”

Adding value before a sale

Of course, if you’re planning to move out of your home in the immediate future, adding upgrades that do little for your sales value may not be such a great financial decision. In this case, Stemmet recommends making use of the following five tips, instead.

Schedule a professional home valuation

A valuation is an essential step for anyone looking to sell a property, but it can also highlight potential areas for improvement before a sale.

“At Rawson, we always include a comparative market analysis that shows homeowners where their property fits in to the local market, how it compares to its neighbours, and what its strengths and weaknesses are,” says Stemmet. “We can then offer advice on whether fixing up those weaknesses would add material value to the property without overcapitalising, or if it would make more sense for the owner to just sell as is.”

Get on top of maintenance

“While proper maintenance doesn’t add new value to a home, poor maintenance definitely decreases it,” says Stemmet. “If you want to get the best price for your home, you need to make sure your walls, fascia boards, roofs, gutters and gardens are up-to-date and well-maintained.”

Improve first impressions

“Upgrading your home’s first impressions on visitors can be a very cost-effective way to improve its value,” says Stemmet. “Enhance your curb appeal with neat garden beds, planted pots or pretty paving, and make sure your entryway is uncluttered and appears to be attractive, welcoming and structurally sound.”

Spruce up your kitchen and bathrooms

It’s often said that kitchens and bathrooms sell houses, but a generally outdated home is unlikely to recover the cost of a full kitchen or bathroom renovation on sale. Rather, Stemmet suggests owners opt for inexpensive updates that offer more bang for their buck.

“Fix and paint any cracks and replace those dated handles and knobs in the kitchen,” she says. “A new toilet seat and a pedestal sink can also make a big difference in the bathroom, as can re-grouting grungy showers and baths, and replacing chipped tiles.”

Make the most of natural light and space

“Open space, light and flow are very important when it comes to a home’s appeal,” says Stemmet, “but that doesn’t mean you have to bash down all your interior walls before you sell. Simply cleaning out clutter like old books and boxes, and freshening up blinds and curtains can make a big difference. Add sparkling windows and spotless floors, and you’ll be well on your way to a more successful sale.”

Get the right advice

While the tips above are good, general ideas for increasing your home’s appeal to buyers, Stemmet reminds homeowners that there is no ‘one size fits all’ solution when it comes to property.

“So much depends on the specific details of your home and your neighbourhood, not to mention your own personal preferences and motivations,” she says. “A good realtor will be able to help you prioritise improvements based on your precise situation and needs.”

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 18 Oct 2017
      Submitted an offer and having it accepted by the seller is exciting, but it is certainly not the end of the property sales process. There are a few more obstacles that need to be overcome before the home can change ownership and the keys are handed over. Failing to overcome any of these hurdles could result in the deal falling through and you starting the journey from the first step.
    • 17 Oct 2017
      It is relatively straightforward to make a good property investment when the economy and housing market are booming. As the old saying goes - a rising tide lifts all boats. However, says Sandra Gordon, Pam Golding Properties senior research analyst, when the economy is struggling with low growth – as South Africa’s currently is, there are still opportunities for investments
    • 17 Oct 2017
      In recent years, residential property investment has been highlighted for its value as an income stream when the property is bond-free, especially for those owners in their retirement years.
    • 17 Oct 2017
      As technology improves, so does the level of property scams that do the rounds, and while every precaution seems to be taken, there will be yet another thing that fraudsters find to dupe people out of large sums of money, warns Johnny Henkes of law firm Henkes Nolte-Joubert.
    • 16 Oct 2017
      With Accelerate Property Fund owning a large portion of business right land and partnering with the Fourways Precinct, residents in this (and surrounding) areas can almost be assured that the plans for the improvement and development of the area will increase residential property values exponentially in the coming year
    • 16 Oct 2017
      You have done your homework thoroughly, researching the market and current trends in the area and gaining a clear understanding of the renovation process you have in mind. You are not discouraged by the time and dedication required nor the plethora of possible minefields, and you decide to take the plunge. What next?
    • 16 Oct 2017
      In the past, if a sectional title scheme appointed a managing agent, the trustees would still have to be actively involved in the decision making and management of the scheme. The Sectional Title Schemes Management Act (STSMA), however, makes allowance for a new type of managing agent – the executive managing agent - which could almost be seen as putting the scheme under voluntary administration.
    • 13 Oct 2017
      The violent storms that have swept South Africa over the past week have left many people with one question on their minds: “I wonder if my insurance will cover the damage?”
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us