select
|

Boost your sales price by renovating

Most sellers want the best possible sales price for their home and often invest money and time in renovations, expecting these to increase the value of their property. “Sellers aren’t wrong thinking that renovations can increase the sales price of a home, but it really depends on what the renovations are,” says Bruce Swain, MD of Leapfrog Property Group.
 
Installing a state of the art gym or home theatre at great cost could seem like a fantastic idea, but ultimately it won’t necessarily push up the sales price. “When it comes to renovating for the sake of resale, not for personal enjoyment, sellers would be better off considering more general improvements,” Swain advises.
 
Tackle the kitchen and the bathrooms
 
Swain says that the first thing most buyers look at in a home is the kitchen and bathroom as these are two of the most costly areas to renovate. Look at new appliances and fittings or a new coat of paint – preferably in neutral colour. “The trick to remember is that buyers don’t come to show houses to see how the seller lives, they come to envision themselves living there. If the furnishings are drab and the wall colouring too garish or faded the chances are they’ll opt for another property,” explains Swain.
 
Go green
 
Installing solar panels or grey water systems might not seem like the most attractive renovations, and can be fairly costly, but with increased water shortages and higher
energy costs demand is increasing. “The emphasis on going green is gaining traction and more and more buyers are willing to pay extra for the convenience and peace of mind of having these products already installed,” advises Swain.
 
Other eco-friendly additions to consider are double glazed windows, gas appliances and pool covers. 
 
Small things that make a big difference
 

It’s not necessary to spend hundreds of thousands of Rands adding on extra rooms and features as taking care of the little things are enough to boost a property’s sales price. Swain recommends;  “Make sure that the garden is well tended, the garage is neat and look at regrouting tiles in high use areas, making sure the window latches all work. Paying attention to the details shows potential buyers that the owner cares about the property – which likely means that the harder to get to areas like the pipes and wiring have also been maintained’.
 
Keep alterations in style with the rest of the house
 
“Whether you’re adding a porch or another bedroom it’s important to ensure that the new addition matches or blends with the building style of the rest of the property,” advises Swain.  Adding another room might seem like a great idea – but it if stands out like a sore thumb the chances are it will lower the overall aesthetics of the property and create the impression that the job wasn’t done well.
 
Swain has a final word of warning; “Owners need to bear in mind that the longer they live in the home post renovation, the less likely they are to recoup the investment for example; redoing the kitchen and then expecting redeem the entire cost when selling five years later is not realistic”.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 23 Feb 2018
      RE/MAX Property Associates’ Table View Office, which services property buyers and sellers along the Table Bay coastline and surrounds, has recently sold a home in Woodbridge Island for R11 million – the highest price paid for any home in the sought-after security complex.
    • 23 Feb 2018
      Choosing to invest in an overseas property can be daunting. But as more and more investors recognise the value of a diversified portfolio that includes property outside of their own country of residence, international property investment is growing in popularity.
    • 23 Feb 2018
      The positive change in South Africa’s political landscape is paving the way for an upswing in the local property market.
    • 22 Feb 2018
      An excellent credit score is one of the most priceless assets a potential home buyer can have. This tool has the power to secure favorable mortgage and refinancing rate, influencing everything from the size of the loan repayment to the interest rate on the home loan.
    • 22 Feb 2018
      What do you do if you love your home’s location and the area, but the home no longer fits your growing family’s needs? Do you stay and renovate your existing home or find a home that meets your developing criteria?
    • 22 Feb 2018
      While every owner wants to sell their property at the best possible price, overpricing a home can be the kiss of death for a sale.
    • 21 Feb 2018
      Given the hand they were dealt, government has performed a delicate balancing act which it is hoped will serve to reignite confidence in investment in South Africa, regain our global credibility and satisfy the credit ratings agencies, says Dr Andrew Golding, chief executive of the Pam Golding Property group.
    • 21 Feb 2018
      The real estate mantra, ‘location, location, location’ remains a strong market influence regardless of the prevailing economy, with suburbs like Rondebosch enjoying the buffering benefit of being ideally situated.
        
    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